Stifel Nicolaus Issues Positive Forecast for ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Price

by · The Cerbat Gem

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) had its price target raised by equities researchers at Stifel Nicolaus from $24.00 to $25.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the biopharmaceutical company’s stock. Stifel Nicolaus’ price objective suggests a potential downside of 6.75% from the stock’s previous close.

ACAD has been the topic of a number of other reports. Cowen reaffirmed a “buy” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, September 11th. Citigroup began coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, October 21st. They issued a “buy” rating and a $33.00 target price on the stock. UBS Group reiterated a “buy” rating and set a $35.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, December 4th. JPMorgan Chase & Co. reduced their price objective on shares of ACADIA Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, November 17th. Finally, Deutsche Bank Aktiengesellschaft set a $29.00 price objective on ACADIA Pharmaceuticals in a report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $28.68.

Read Our Latest Research Report on ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ ACAD opened at $26.81 on Thursday. The business has a 50-day moving average of $23.05 and a two-hundred day moving average of $23.15. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 17.30, a price-to-earnings-growth ratio of 7.22 and a beta of 0.67. ACADIA Pharmaceuticals has a 1 year low of $13.40 and a 1 year high of $27.73.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) last issued its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.28. The business had revenue of $278.63 million for the quarter, compared to analyst estimates of $276.52 million. ACADIA Pharmaceuticals had a return on equity of 14.61% and a net margin of 24.94%.The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the company earned $0.20 EPS. As a group, equities research analysts expect that ACADIA Pharmaceuticals will post 0.7 earnings per share for the current year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, insider James Kihara sold 4,084 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $23.69, for a total value of $96,749.96. Following the completion of the transaction, the insider owned 25,058 shares of the company’s stock, valued at $593,624.02. The trade was a 14.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mark C. Schneyer sold 10,262 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $23.69, for a total transaction of $243,106.78. Following the sale, the executive vice president owned 53,338 shares in the company, valued at approximately $1,263,577.22. This trade represents a 16.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 47,844 shares of company stock worth $1,093,684. Corporate insiders own 26.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of ACADIA Pharmaceuticals by 9.0% in the first quarter. Vanguard Group Inc. now owns 15,203,234 shares of the biopharmaceutical company’s stock valued at $252,526,000 after purchasing an additional 1,255,594 shares during the period. Geode Capital Management LLC boosted its stake in ACADIA Pharmaceuticals by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 3,024,097 shares of the biopharmaceutical company’s stock worth $65,238,000 after buying an additional 69,584 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in ACADIA Pharmaceuticals by 16.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,798,134 shares of the biopharmaceutical company’s stock valued at $59,712,000 after buying an additional 402,534 shares during the period. Fred Alger Management LLC increased its stake in shares of ACADIA Pharmaceuticals by 2.0% during the 1st quarter. Fred Alger Management LLC now owns 2,769,828 shares of the biopharmaceutical company’s stock valued at $46,007,000 after acquiring an additional 54,899 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of ACADIA Pharmaceuticals by 2.8% during the 2nd quarter. First Trust Advisors LP now owns 2,434,376 shares of the biopharmaceutical company’s stock worth $52,509,000 after acquiring an additional 65,914 shares during the period. Hedge funds and other institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Company Profile

(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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