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

by · The Markets Daily

Research analysts at BMO Capital Markets began coverage on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) in a report issued on Thursday, Marketbeat reports. The brokerage set an “outperform” rating and a $31.00 price target on the biopharmaceutical company’s stock. BMO Capital Markets’ target price would suggest a potential upside of 90.77% from the stock’s current price.

Other analysts also recently issued research reports about the company. 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. JPMorgan Chase & Co. cut their price target on ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, March 25th. Bank of America cut their price target on ACADIA Pharmaceuticals from $26.00 to $22.00 and set a “neutral” rating on the stock in a report on Friday, May 10th. Stifel Nicolaus cut their price target on ACADIA Pharmaceuticals from $26.00 to $21.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $37.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, May 9th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.71.

Check Out Our Latest Stock Analysis on ACAD

ACADIA Pharmaceuticals Stock Down 0.7 %

NASDAQ:ACAD opened at $16.25 on Thursday. The business’s 50 day moving average is $15.65 and its two-hundred day moving average is $21.35. ACADIA Pharmaceuticals has a 52 week low of $14.55 and a 52 week high of $33.99. The company has a market cap of $2.68 billion, a PE ratio of -1,623.38 and a beta of 0.40.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) last released its earnings results on Wednesday, May 8th. The biopharmaceutical company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $205.83 million for the quarter, compared to the consensus estimate of $208.31 million. During the same quarter last year, the business posted ($0.27) EPS. ACADIA Pharmaceuticals’s quarterly revenue was up 73.8% compared to the same quarter last year. As a group, sell-side analysts expect that ACADIA Pharmaceuticals will post 0.58 EPS for the current fiscal year.

Insider Activity

In related news, COO Brendan Teehan sold 2,568 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, April 8th. The stock was sold at an average price of $17.87, for a total value of $45,890.16. Following the transaction, the chief operating officer now directly owns 38,796 shares in the company, valued at approximately $693,284.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider James Kihara sold 1,790 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, April 8th. The stock was sold at an average price of $17.87, for a total value of $31,987.30. Following the transaction, the insider now directly owns 13,100 shares in the company, valued at approximately $234,097. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Brendan Teehan sold 2,568 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, April 8th. The stock was sold at an average price of $17.87, for a total value of $45,890.16. Following the completion of the transaction, the chief operating officer now owns 38,796 shares in the company, valued at $693,284.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,356 shares of company stock worth $949,987. 28.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of hedge funds have recently modified their holdings of ACAD. Covestor Ltd boosted its position in shares of ACADIA Pharmaceuticals by 70.5% in the first 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. Quest Partners LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter worth $39,000. Headlands Technologies LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the first quarter worth $48,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter worth $100,000. Finally, Shell Asset Management Co. boosted its position in shares of ACADIA Pharmaceuticals by 65.7% in the first quarter. Shell Asset Management Co. now owns 7,339 shares of the biopharmaceutical company’s stock worth $136,000 after buying an additional 2,909 shares during the period. 96.71% of the stock is currently owned by institutional investors and hedge funds.

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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