Cantor Fitzgerald Reaffirms Overweight Rating for ACADIA Pharmaceuticals (NASDAQ:ACAD)

ACADIA Pharmaceuticals (NASDAQ:ACAD)‘s stock had its “overweight” rating reaffirmed by research analysts at Cantor Fitzgerald in a report released on Tuesday, Benzinga reports. They presently have a $37.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 118.16% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Robert W. Baird began coverage on ACADIA Pharmaceuticals in a research note on Tuesday, January 30th. They issued an “outperform” rating and a $40.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday, March 25th. Morgan Stanley reduced their price target on shares of ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, March 13th. Royal Bank of Canada dropped their target price on shares of ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Finally, HC Wainwright restated a “buy” rating and set a $33.00 price target on shares of ACADIA Pharmaceuticals in a research note on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, ACADIA Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $32.13.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ:ACAD traded down $0.14 during trading on Tuesday, reaching $16.96. 134,443 shares of the stock were exchanged, compared to its average volume of 1,739,989. The stock has a fifty day moving average of $19.78 and a two-hundred day moving average of $23.51. ACADIA Pharmaceuticals has a 1-year low of $16.16 and a 1-year high of $33.99. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of -44.66 and a beta of 0.37.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). ACADIA Pharmaceuticals had a negative return on equity of 15.67% and a negative net margin of 8.44%. The business had revenue of $231.04 million during the quarter, compared to analyst estimates of $223.79 million. During the same quarter in the prior year, the company earned ($0.26) EPS. The company’s revenue was up 69.3% on a year-over-year basis. Sell-side analysts forecast that ACADIA Pharmaceuticals will post 0.62 EPS for the current year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 5,577 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $24.67, for a total transaction of $137,584.59. Following the sale, the chief executive officer now directly owns 101,890 shares in the company, valued at approximately $2,513,626.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Stephen Davis sold 5,577 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, February 26th. The shares were sold at an average price of $24.67, for a total transaction of $137,584.59. Following the transaction, the chief executive officer now owns 101,890 shares in the company, valued at approximately $2,513,626.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Brendan Teehan sold 2,568 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, April 8th. The shares were sold at an average price of $17.87, for a total transaction of $45,890.16. Following the transaction, the chief operating officer now owns 38,796 shares in the company, valued at approximately $693,284.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,383 shares of company stock worth $1,291,362. 27.50% of the stock is owned by insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of large investors have recently made changes to their positions in the company. Mutual of America Capital Management LLC bought a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth $2,206,000. Qube Research & Technologies Ltd lifted its holdings in ACADIA Pharmaceuticals by 757.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 212,919 shares of the biopharmaceutical company’s stock valued at $4,437,000 after buying an additional 188,080 shares in the last quarter. RTW Investments LP boosted its position in ACADIA Pharmaceuticals by 18.3% in the 3rd quarter. RTW Investments LP now owns 11,576,537 shares of the biopharmaceutical company’s stock valued at $241,255,000 after buying an additional 1,793,288 shares during the period. Charles Schwab Investment Management Inc. boosted its position in ACADIA Pharmaceuticals by 9.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,073,093 shares of the biopharmaceutical company’s stock valued at $22,363,000 after buying an additional 91,641 shares during the period. Finally, Northern Trust Corp grew its stake in ACADIA Pharmaceuticals by 4.9% in the 3rd quarter. Northern Trust Corp now owns 1,220,677 shares of the biopharmaceutical company’s stock worth $25,439,000 after acquiring an additional 57,555 shares in the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

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.