ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price target lifted by equities research analysts at Needham & Company LLC from $28.00 to $29.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Needham & Company LLC’s target price points to a potential upside of 28.49% from the company’s current price.

ACAD has been the topic of a number of other research reports. Royal Bank Of Canada lifted their price target on ACADIA Pharmaceuticals from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Deutsche Bank Aktiengesellschaft set a $29.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, September 25th. Wall Street Zen lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, September 5th. Mizuho boosted their target price on shares of ACADIA Pharmaceuticals from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Finally, Citigroup initiated coverage on ACADIA Pharmaceuticals in a report on Tuesday, October 21st. They issued a “buy” rating and a $33.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.94.

ACADIA Pharmaceuticals Stock Performance

NASDAQ ACAD opened at $22.57 on Thursday. ACADIA Pharmaceuticals has a 1 year low of $13.40 and a 1 year high of $26.65. The business’s fifty day moving average is $22.62 and its two-hundred day moving average is $21.89. The stock has a market capitalization of $3.81 billion, a P/E ratio of 16.97, a P/E/G ratio of 7.90 and a beta of 0.80.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $276.52 million. ACADIA Pharmaceuticals had a return on equity of 14.69% and a net margin of 21.80%.The company’s revenue was up 11.3% compared to the same quarter last year. During the same period last year, the company posted $0.20 EPS. ACADIA Pharmaceuticals has set its FY 2025 guidance at EPS. On average, research analysts forecast that ACADIA Pharmaceuticals will post 0.7 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Elizabeth A. Garofalo sold 1,600 shares of ACADIA Pharmaceuticals stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $25.98, for a total transaction of $41,568.00. Following the completion of the sale, the director owned 25,382 shares of the company’s stock, valued at approximately $659,424.36. This trade represents a 5.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark C. Schneyer sold 3,498 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $23.65, for a total value of $82,727.70. Following the completion of the transaction, the executive vice president owned 43,447 shares in the company, valued at $1,027,521.55. This trade represents a 7.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 27,098 shares of company stock valued at $678,256 in the last three months. Company insiders own 26.50% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in shares of ACADIA Pharmaceuticals by 627.3% in the 1st quarter. GAMMA Investing LLC now owns 3,513 shares of the biopharmaceutical company’s stock valued at $58,000 after buying an additional 3,030 shares in the last quarter. Amalgamated Bank raised its position in ACADIA Pharmaceuticals by 757.7% during the first quarter. Amalgamated Bank now owns 35,002 shares of the biopharmaceutical company’s stock valued at $581,000 after acquiring an additional 30,921 shares in the last quarter. New York State Teachers Retirement System lifted its stake in ACADIA Pharmaceuticals by 547.9% in the first quarter. New York State Teachers Retirement System now owns 33,625 shares of the biopharmaceutical company’s stock valued at $559,000 after acquiring an additional 28,435 shares during the last quarter. Principal Financial Group Inc. grew its position in ACADIA Pharmaceuticals by 425.2% in the first quarter. Principal Financial Group Inc. now owns 754,748 shares of the biopharmaceutical company’s stock worth $12,536,000 after acquiring an additional 611,054 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of ACADIA Pharmaceuticals by 96.3% during the 1st quarter. Bank of New York Mellon Corp now owns 804,390 shares of the biopharmaceutical company’s stock worth $13,361,000 after purchasing an additional 394,640 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.

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.