ACADIA Pharmaceuticals’ (ACAD) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a research note released on Thursday morning,Benzinga reports. HC Wainwright currently has a $27.00 target price on the biopharmaceutical company’s stock. HC Wainwright also issued estimates for ACADIA Pharmaceuticals’ Q4 2024 earnings at $0.14 EPS and FY2028 earnings at $2.54 EPS.

Other analysts have also issued research reports about the company. Royal Bank of Canada dropped their price objective on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. UBS Group dropped their price target on ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Cantor Fitzgerald reduced their price objective on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, September 13th. Finally, Morgan Stanley cut shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $28.00 to $20.00 in a research note on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $25.56.

ACADIA Pharmaceuticals Trading Up 2.4 %

Shares of ACADIA Pharmaceuticals stock traded up $0.41 on Thursday, reaching $17.61. 888,829 shares of the company were exchanged, compared to its average volume of 1,687,000. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 95.56 and a beta of 0.38. ACADIA Pharmaceuticals has a one year low of $14.15 and a one year high of $32.59. The company has a 50-day moving average of $15.43 and a 200 day moving average of $15.97.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The company had revenue of $250.40 million during the quarter, compared to the consensus estimate of $248.83 million. ACADIA Pharmaceuticals had a net margin of 3.43% and a return on equity of 6.89%. The company’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.40) EPS. Analysts predict that ACADIA Pharmaceuticals will post 0.51 earnings per share for the current year.

Insider Activity at ACADIA Pharmaceuticals

In other news, CEO Stephen Davis sold 31,747 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $485,094.16. Following the completion of the transaction, the chief executive officer now owns 186,555 shares of the company’s stock, valued at approximately $2,850,560.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Stephen Davis sold 31,747 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $485,094.16. Following the completion of the transaction, the chief executive officer now directly owns 186,555 shares in the company, valued at $2,850,560.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Brendan Teehan sold 9,534 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $145,679.52. Following the completion of the sale, the chief operating officer now owns 52,177 shares in the company, valued at $797,264.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,014 shares of company stock valued at $779,494 over the last three months. 28.30% of the stock is owned by insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Large investors have recently bought and sold shares of the company. Park Place Capital Corp bought a new position in shares of ACADIA Pharmaceuticals during the third quarter valued at $25,000. Values First Advisors Inc. bought a new position in ACADIA Pharmaceuticals during the 3rd quarter worth $27,000. Covestor Ltd lifted its holdings in ACADIA Pharmaceuticals by 70.5% during the 1st quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 840 shares during the period. Headlands Technologies LLC bought a new stake in shares of ACADIA Pharmaceuticals in the 1st quarter valued at about $48,000. Finally, Quest Partners LLC increased its stake in shares of ACADIA Pharmaceuticals by 42.3% in the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock valued at $54,000 after buying an additional 1,047 shares during the period. 96.71% of the stock is currently owned by institutional investors.

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.