ACADIA Pharmaceuticals (NASDAQ:ACAD) Hits New 52-Week High – Time to Buy?

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $29.65 and last traded at $29.39, with a volume of 2726420 shares changing hands. The stock had previously closed at $29.21.

Trending Headlines about ACADIA Pharmaceuticals

Here are the key news stories impacting ACADIA Pharmaceuticals this week:

• Positive Sentiment: Needham raised its price target on ACADIA from $38 to $41 and maintained a “Buy” rating, implying substantial upside from the recent trading level. The higher target reflects increased confidence in the company’s growth outlook. Benzinga
• Positive Sentiment: Citi also initiated or reiterated a Buy view on ACADIA, adding to the favorable analyst sentiment surrounding the company. Citi Buy Recommendation
• Positive Sentiment: Analysts expect Daybue and Nuplazid growth to support ACADIA’s revenue and earnings expansion. The company’s recent quarterly performance also showed year-over-year revenue growth and earnings above consensus estimates, reinforcing the growth narrative. Daybue and Nuplazid Growth Outlook
• Positive Sentiment: ACADIA shares reached a new 12-month high, indicating strong momentum and heightened market interest. The stock is trading above both its 50-day and 200-day moving averages. ACADIA 12-Month High
• Neutral Sentiment: The Q2 earnings call highlighted growth momentum and the company’s commercial opportunities, though investors will continue monitoring execution, product adoption, and upcoming catalysts. ACADIA Earnings Call Highlights
• Neutral Sentiment: Reported short interest was zero, according to the available data, suggesting no measurable short-selling pressure but providing limited additional trading insight.
• Negative Sentiment: RADIANT clinical data introduces uncertainty. While successful results could provide another growth driver, disappointing data could pressure the shares and offset the current analyst optimism. RADIANT Data Risk

Analyst Ratings Changes

A number of brokerages have recently commented on ACAD. Citigroup raised their price target on ACADIA Pharmaceuticals from $35.00 to $39.00 and gave the company a “buy” rating in a report on Monday. Bank of America reaffirmed a “buy” rating and issued a $14.50 price objective on shares of ACADIA Pharmaceuticals in a report on Wednesday, July 29th. Needham & Company LLC increased their target price on shares of ACADIA Pharmaceuticals from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday. HC Wainwright reissued a “buy” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ACADIA Pharmaceuticals in a research report on Wednesday, July 29th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, ACADIA Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $33.69.

ACADIA Pharmaceuticals Trading Up 0.1%

The company has a market capitalization of $5.07 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 23.16 and a beta of 0.81. The firm has a 50-day moving average price of $24.88 and a 200-day moving average price of $23.31.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.11. ACADIA Pharmaceuticals had a return on equity of 9.03% and a net margin of 33.42%.The business had revenue of $308.00 million during the quarter, compared to analyst estimates of $296.55 million. During the same quarter in the prior year, the firm posted $0.16 earnings per share. The company’s revenue was up 16.4% on a year-over-year basis. Equities research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider James Kihara sold 5,401 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $21.18, for a total value of $114,393.18. Following the transaction, the insider owned 24,509 shares of the company’s stock, valued at $519,100.62. The trade was a 18.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Elizabeth H.Z. Thompson sold 16,558 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $26.13, for a total transaction of $432,660.54. Following the completion of the transaction, the executive vice president directly owned 18,994 shares in the company, valued at $496,313.22. This represents a 46.57% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 42,100 shares of company stock worth $1,134,287. 26.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of ACADIA Pharmaceuticals in the 4th quarter worth $40,266,000. Jupiter Asset Management Ltd. lifted its holdings in shares of ACADIA Pharmaceuticals by 30.4% during the fourth quarter. Jupiter Asset Management Ltd. now owns 621,049 shares of the biopharmaceutical company’s stock valued at $16,588,000 after purchasing an additional 144,732 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of ACADIA Pharmaceuticals by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 3,239,451 shares of the biopharmaceutical company’s stock valued at $86,539,000 after purchasing an additional 106,807 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of ACADIA Pharmaceuticals by 44.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 954,855 shares of the biopharmaceutical company’s stock valued at $21,312,000 after purchasing an additional 296,042 shares during the period. Finally, UBS Group AG boosted its position in shares of ACADIA Pharmaceuticals by 15.7% in the 4th quarter. UBS Group AG now owns 769,392 shares of the biopharmaceutical company’s stock valued at $20,550,000 after purchasing an additional 104,546 shares during the period. Institutional investors and hedge funds own 96.71% of the company’s stock.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.