ACADIA Pharmaceuticals (NASDAQ:ACAD) Reaches New 12-Month High – Should You Buy?

by · The Cerbat Gem

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Get Free Report) hit a new 52-week high on Thursday . The company traded as high as $26.76 and last traded at $26.55, with a volume of 1810325 shares trading hands. The stock had previously closed at $25.88.

Analyst Ratings Changes

Several research firms recently issued reports on ACAD. JMP Securities boosted their price objective on ACADIA Pharmaceuticals from $37.00 to $38.00 and gave the company a “market outperform” rating in a report on Thursday, August 7th. TD Cowen lifted their target price on ACADIA Pharmaceuticals from $35.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, September 11th. Needham & Company LLC increased their price target on shares of ACADIA Pharmaceuticals from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft set a $29.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, September 25th. Finally, UBS Group reaffirmed a “buy” rating and set a $35.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.89.

Read Our Latest Stock Analysis on ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Stock Up 2.6%

The company’s fifty day moving average is $22.48 and its two-hundred day moving average is $22.97. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 6.73 and a beta of 0.67.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) last posted its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.14 by $0.28. ACADIA Pharmaceuticals had a net margin of 24.94% and a return on equity of 14.61%. The company had revenue of $278.63 million during the quarter, compared to analysts’ expectations of $276.52 million. During the same quarter in the previous year, the business posted $0.20 EPS. The firm’s revenue was up 11.3% on a year-over-year basis. Sell-side analysts predict that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, insider James Kihara sold 4,084 shares of the firm’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $23.69, for a total value of $96,749.96. Following the sale, the insider directly owned 25,058 shares in the company, valued at $593,624.02. This trade represents a 14.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark C. Schneyer sold 10,262 shares of the company’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $23.69, for a total value of $243,106.78. Following the transaction, the executive vice president directly owned 53,338 shares of the company’s stock, valued at approximately $1,263,577.22. This represents a 16.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 47,844 shares of company stock valued at $1,093,684 over the last quarter. 26.50% of the stock is owned by insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. raised its holdings in ACADIA Pharmaceuticals by 113.0% during the third quarter. Geneos Wealth Management Inc. now owns 1,425 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 756 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of ACADIA Pharmaceuticals by 107.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 885 shares during the last quarter. USA Financial Formulas acquired a new stake in ACADIA Pharmaceuticals during the 3rd quarter worth $41,000. Banque Transatlantique SA purchased a new stake in ACADIA Pharmaceuticals in the first quarter valued at $31,000. Finally, Federated Hermes Inc. boosted its stake in ACADIA Pharmaceuticals by 231.5% in the first quarter. Federated Hermes Inc. now owns 2,317 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 1,618 shares in the last quarter. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

About ACADIA Pharmaceuticals

(Get Free Report)

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.

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