ACADIA Pharmaceuticals’ (ACAD) Market Outperform Rating Reaffirmed at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACADFree Report) in a research note published on Wednesday, Benzinga reports. JMP Securities currently has a $42.00 price target on the biopharmaceutical company’s stock.

Other analysts have also issued research reports about the company. Oppenheimer reissued a market perform rating and set a $25.00 price target on shares of ACADIA Pharmaceuticals in a report on Monday, February 5th. Deutsche Bank Aktiengesellschaft started coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, December 12th. They set a buy rating and a $25.00 target price on the stock. Cantor Fitzgerald restated an overweight rating and issued a $42.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Friday, February 2nd. JPMorgan Chase & Co. raised ACADIA Pharmaceuticals from a neutral rating to an overweight rating and lifted their target price for the company from $29.00 to $32.00 in a research note on Tuesday, October 10th. Finally, Robert W. Baird started coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, January 30th. They set an outperform rating and a $40.00 target price for the company. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $36.26.

View Our Latest Report on ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Price Performance

Shares of ACAD opened at $26.36 on Wednesday. The firm has a market capitalization of $4.33 billion, a P/E ratio of -28.65 and a beta of 0.45. The business has a fifty day moving average of $27.60 and a 200 day moving average of $25.79. ACADIA Pharmaceuticals has a one year low of $17.71 and a one year high of $33.99.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 3,732 shares of ACADIA Pharmaceuticals stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $29.96, for a total value of $111,810.72. Following the transaction, the chief executive officer now owns 96,521 shares in the company, valued at $2,891,769.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Stephen Davis sold 3,732 shares of the company’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $29.96, for a total transaction of $111,810.72. Following the transaction, the chief executive officer now directly owns 96,521 shares of the company’s stock, valued at $2,891,769.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider James Kihara sold 2,000 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $28.30, for a total value of $56,600.00. Following the completion of the sale, the insider now directly owns 11,025 shares of the company’s stock, valued at approximately $312,007.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,106 shares of company stock valued at $480,868. Company insiders own 27.50% of the company’s stock.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several hedge funds have recently made changes to their positions in ACAD. Quest Partners LLC purchased a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at about $39,000. Nemes Rush Group LLC purchased a new position in ACADIA Pharmaceuticals in the 2nd quarter valued at $48,000. China Universal Asset Management Co. Ltd. boosted its stake in ACADIA Pharmaceuticals by 97.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,202 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 2,070 shares during the last quarter. State of Wyoming acquired a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at about $92,000. Finally, Lazard Asset Management LLC grew its stake in ACADIA Pharmaceuticals by 35.8% during the 2nd quarter. Lazard Asset Management LLC now owns 4,125 shares of the biopharmaceutical company’s stock valued at $98,000 after acquiring an additional 1,088 shares in the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Company Profile

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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. It offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.

Further Reading

Analyst Recommendations for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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