ACADIA Pharmaceuticals (NASDAQ:ACAD) Given Market Perform Rating at Oppenheimer

Oppenheimer restated their market perform rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a research note published on Monday, Benzinga reports. They currently have a $19.00 price target on the biopharmaceutical company’s stock.

A number of other research analysts also recently issued reports on the company. JMP Securities reissued a market outperform rating and issued a $42.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Wednesday, February 7th. HC Wainwright reaffirmed a buy rating and set a $33.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Wednesday, February 28th. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a hold rating to a buy rating in a research report on Tuesday, January 30th. Needham & Company LLC restated a buy rating and issued a $32.00 price target on shares of ACADIA Pharmaceuticals in a report on Tuesday, April 9th. Finally, TheStreet upgraded shares of ACADIA Pharmaceuticals from a d rating to a c rating in a report on Tuesday, February 27th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, ACADIA Pharmaceuticals has an average rating of Moderate Buy and an average price target of $31.75.

ACADIA Pharmaceuticals Stock Performance

NASDAQ:ACAD opened at $17.13 on Monday. The company has a market capitalization of $2.83 billion, a PE ratio of -45.08 and a beta of 0.42. ACADIA Pharmaceuticals has a fifty-two week low of $16.16 and a fifty-two week high of $33.99. The company has a 50 day simple moving average of $18.66 and a two-hundred day simple moving average of $23.21.

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

Insider Transactions at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, insider James Kihara sold 1,790 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $17.87, for a total transaction of $31,987.30. Following the transaction, the insider now directly owns 13,100 shares in the company, valued at approximately $234,097. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other ACADIA Pharmaceuticals news, insider James Kihara sold 1,790 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $17.87, for a total value of $31,987.30. Following the completion of the sale, the insider now directly owns 13,100 shares of the company’s stock, valued at approximately $234,097. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen Davis sold 5,577 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $24.67, for a total transaction of $137,584.59. Following the completion of the sale, the chief executive officer now owns 101,890 shares of the company’s stock, valued at approximately $2,513,626.30. The disclosure for this sale can be found here. Insiders sold a total of 89,116 shares of company stock valued at $1,625,639 over the last ninety days. 27.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Quest Partners LLC bought a new position in shares of ACADIA Pharmaceuticals during the 4th quarter valued at approximately $39,000. Headlands Technologies LLC purchased a new stake in ACADIA Pharmaceuticals in the first quarter worth $48,000. China Universal Asset Management Co. Ltd. raised its stake in shares of ACADIA Pharmaceuticals by 97.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 4,202 shares of the biopharmaceutical company’s stock valued at $88,000 after buying an additional 2,070 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of ACADIA Pharmaceuticals during the 4th quarter valued at $100,000. Finally, Acadian Asset Management LLC bought a new position in shares of ACADIA Pharmaceuticals during the 3rd quarter worth $184,000. Hedge funds and other institutional investors own 96.71% of the company’s stock.

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.