ACADIA Pharmaceuticals (NASDAQ:ACAD) Research Coverage Started at BMO Capital Markets

BMO Capital Markets started coverage on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a research note published on Thursday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $31.00 price objective on the biopharmaceutical company’s stock.

A number of other brokerages also recently issued reports on ACAD. Royal Bank of Canada reissued an outperform rating and issued a $29.00 price target on shares of ACADIA Pharmaceuticals in a report on Tuesday, June 25th. Robert W. Baird decreased their target price on ACADIA Pharmaceuticals from $31.00 to $28.00 and set an outperform rating on the stock in a research note on Thursday, May 9th. JPMorgan Chase & Co. decreased their target price on ACADIA Pharmaceuticals from $29.00 to $25.00 and set an overweight rating on the stock in a research note on Monday, March 25th. Mizuho cut their price target on ACADIA Pharmaceuticals from $25.00 to $21.00 and set a neutral rating on the stock in a report on Thursday, May 9th. Finally, Bank of America dropped their price objective on ACADIA Pharmaceuticals from $26.00 to $22.00 and set a neutral rating on the stock in a report on Friday, May 10th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $28.71.

ACADIA Pharmaceuticals Stock Down 0.7 %

Shares of ACAD opened at $16.25 on Thursday. The company has a market cap of $2.68 billion, a PE ratio of -1,623.38 and a beta of 0.40. The business has a fifty day moving average of $15.65 and a 200 day moving average of $21.35. ACADIA Pharmaceuticals has a 52-week low of $14.55 and a 52-week high of $33.99.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.04 by $0.06. ACADIA Pharmaceuticals had a negative return on equity of 0.41% and a negative net margin of 0.21%. The firm had revenue of $205.83 million for the quarter, compared to analyst estimates of $208.31 million. During the same quarter last year, the firm posted ($0.27) earnings per share. The business’s revenue for the quarter was up 73.8% on a year-over-year basis. As a group, research analysts anticipate that ACADIA Pharmaceuticals will post 0.58 earnings per share for the current fiscal year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, COO Brendan Teehan sold 2,568 shares of ACADIA Pharmaceuticals stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $17.87, for a total transaction of $45,890.16. Following the sale, the chief operating officer now directly owns 38,796 shares of the company’s stock, valued at $693,284.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Stephen Davis sold 26,574 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $17.87, for a total value of $474,877.38. Following the completion of the transaction, the chief executive officer now owns 144,267 shares of the company’s stock, valued at approximately $2,578,051.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Brendan Teehan sold 2,568 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $17.87, for a total transaction of $45,890.16. Following the completion of the transaction, the chief operating officer now directly owns 38,796 shares of the company’s stock, valued at $693,284.52. The disclosure for this sale can be found here. Insiders have sold a total of 54,356 shares of company stock worth $949,987 over the last three months. Corporate insiders own 28.30% of the company’s stock.

Institutional Trading of ACADIA Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Empire Life Investments Inc. grew its position in ACADIA Pharmaceuticals by 0.3% in the 4th quarter. Empire Life Investments Inc. now owns 174,815 shares of the biopharmaceutical company’s stock worth $5,473,000 after purchasing an additional 467 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in shares of ACADIA Pharmaceuticals by 2.3% during the 4th quarter. Handelsbanken Fonder AB now owns 31,633 shares of the biopharmaceutical company’s stock valued at $990,000 after buying an additional 700 shares in the last quarter. Swiss National Bank lifted its stake in shares of ACADIA Pharmaceuticals by 0.4% during the 1st quarter. Swiss National Bank now owns 210,604 shares of the biopharmaceutical company’s stock valued at $3,894,000 after buying an additional 800 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of ACADIA Pharmaceuticals by 1.6% during the 4th quarter. Franklin Resources Inc. now owns 50,405 shares of the biopharmaceutical company’s stock valued at $1,578,000 after buying an additional 803 shares in the last quarter. Finally, Covestor Ltd lifted its stake in ACADIA Pharmaceuticals by 70.5% in the 1st quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 840 shares in the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization innovative medicines that address unmet medical needs in central nervous system (CNS) disorders and rare diseases in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for treatment of Rett Syndrome.