Morgan Stanley Reaffirms Equal Weight Rating for ACADIA Pharmaceuticals (NASDAQ:ACAD)

Morgan Stanley reiterated their equal weight rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a report published on Friday morning,Benzinga reports. The brokerage currently has a $20.00 target price on the biopharmaceutical company’s stock.

Several other equities analysts have also recently weighed in on ACAD. Deutsche Bank Aktiengesellschaft assumed coverage on ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They set a “hold” rating and a $22.00 price target on the stock. Guggenheim cut ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their price target for the company from $23.00 to $20.00 in a report on Friday, January 3rd. HC Wainwright restated a “buy” rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Finally, Needham & Company LLC restated a “buy” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

ACADIA Pharmaceuticals Price Performance

NASDAQ ACAD opened at $17.56 on Friday. The business’s fifty day moving average price is $18.49 and its 200-day moving average price is $16.91. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 22.51 and a beta of 0.37. ACADIA Pharmaceuticals has a 1-year low of $14.15 and a 1-year high of $24.27.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 4,919 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total transaction of $89,673.37. Following the completion of the transaction, the director now owns 17,595 shares of the company’s stock, valued at $320,756.85. This represents a 21.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 6,167 shares of company stock valued at $114,583 in the last 90 days. Insiders own 28.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Phocas Financial Corp. lifted its holdings in shares of ACADIA Pharmaceuticals by 79.0% in the 4th quarter. Phocas Financial Corp. now owns 107,811 shares of the biopharmaceutical company’s stock valued at $1,978,000 after acquiring an additional 47,596 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at about $2,106,000. Mackenzie Financial Corp lifted its holdings in shares of ACADIA Pharmaceuticals by 180.1% in the 4th quarter. Mackenzie Financial Corp now owns 51,065 shares of the biopharmaceutical company’s stock valued at $937,000 after acquiring an additional 32,833 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at about $64,000. Finally, CTC Alternative Strategies Ltd. bought a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at about $1,012,000. Institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Company Profile

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.