ACADIA Pharmaceuticals (NASDAQ:ACAD) Given New $36.00 Price Target at Citizens Jmp

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its target price upped by stock analysts at Citizens Jmp from $35.00 to $36.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “market outperform” rating on the biopharmaceutical company’s stock. Citizens Jmp’s price target points to a potential upside of 25.61% from the company’s current price.

ACAD has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Monday, June 29th. HC Wainwright downgraded ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Canaccord Genuity Group boosted their target price on ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ACADIA Pharmaceuticals in a report on Wednesday, July 29th. Finally, BMO Capital Markets lifted their price target on ACADIA Pharmaceuticals from $34.00 to $36.00 and gave the company an “outperform” rating in a research report on Tuesday, July 21st. Thirteen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $32.53.

ACADIA Pharmaceuticals Stock Up 5.6%

ACADIA Pharmaceuticals stock traded up $1.51 during trading on Wednesday, hitting $28.66. The stock had a trading volume of 2,015,080 shares, compared to its average volume of 1,656,634. The stock’s 50 day moving average is $23.95 and its two-hundred day moving average is $23.20. ACADIA Pharmaceuticals has a 1 year low of $19.69 and a 1 year high of $29.17. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 17.76 and a beta of 0.81.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.12. The firm had revenue of $308.00 million for the quarter, compared to analyst estimates of $295.51 million. ACADIA Pharmaceuticals had a return on equity of 9.61% and a net margin of 34.30%.The business’s revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 earnings per share. As a group, equities research analysts anticipate that ACADIA Pharmaceuticals will post 0.39 EPS for the current fiscal year.

Insider Activity

In other ACADIA Pharmaceuticals news, insider James Kihara sold 5,401 shares of the firm’s stock in a transaction 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 sale, the insider owned 24,509 shares of the company’s stock, valued at $519,100.62. This trade represents a 18.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elizabeth H.Z. Thompson sold 16,558 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $26.13, for a total transaction of $432,660.54. Following the sale, the executive vice president owned 18,994 shares of the company’s stock, valued at approximately $496,313.22. This represents a 46.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 26.20% of the company’s stock.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. State Street Corp raised its holdings in shares of ACADIA Pharmaceuticals by 9.0% during the fourth quarter. State Street Corp now owns 7,910,733 shares of the biopharmaceutical company’s stock valued at $211,296,000 after acquiring an additional 655,257 shares in the last quarter. First Trust Advisors LP raised its stake in ACADIA Pharmaceuticals by 47.3% in the first quarter. First Trust Advisors LP now owns 3,343,868 shares of the biopharmaceutical company’s stock worth $74,435,000 after buying an additional 1,073,834 shares in the last quarter. Geode Capital Management LLC boosted its position in ACADIA Pharmaceuticals by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 3,239,451 shares of the biopharmaceutical company’s stock valued at $86,539,000 after acquiring an additional 106,807 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of ACADIA Pharmaceuticals by 8.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,155,160 shares of the biopharmaceutical company’s stock worth $70,222,000 after acquiring an additional 234,186 shares during the period. Finally, Marshall Wace LLP raised its position in shares of ACADIA Pharmaceuticals by 19.8% in the 3rd quarter. Marshall Wace LLP now owns 2,358,881 shares of the biopharmaceutical company’s stock worth $50,339,000 after acquiring an additional 389,170 shares in the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

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.