Cantor Fitzgerald Reaffirms Overweight Rating for ACADIA Pharmaceuticals (NASDAQ:ACAD)

ACADIA Pharmaceuticals (NASDAQ:ACAD)‘s stock had its “overweight” rating reaffirmed by investment analysts at Cantor Fitzgerald in a research note issued to investors on Thursday,Benzinga reports. They presently have a $28.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price would suggest a potential upside of 42.86% from the stock’s previous close. Cantor Fitzgerald also issued estimates for ACADIA Pharmaceuticals’ FY2025 earnings at $0.15 EPS.

Other equities research analysts have also issued research reports about the stock. Guggenheim lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $23.00 to $20.00 in a report on Friday, January 3rd. HC Wainwright reaffirmed a “buy” rating and set a $27.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday. StockNews.com lowered ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. Needham & Company LLC restated a “buy” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a “hold” rating and a $22.00 target price for the company. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

ACADIA Pharmaceuticals Stock Up 1.3 %

ACAD stock opened at $19.60 on Thursday. ACADIA Pharmaceuticals has a twelve month low of $14.15 and a twelve month high of $24.53. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 25.13 and a beta of 0.37. The business’s fifty day simple moving average is $18.37 and its two-hundred day simple moving average is $16.81.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Virtus Fund Advisers LLC acquired a new stake in ACADIA Pharmaceuticals in the fourth quarter valued at approximately $39,000. R Squared Ltd purchased a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter valued at $47,000. GF Fund Management CO. LTD. purchased a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter valued at $64,000. Quest Partners LLC boosted its position in shares of ACADIA Pharmaceuticals by 42.3% in the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 1,047 shares in the last quarter. Finally, KBC Group NV grew its stake in ACADIA Pharmaceuticals by 67.0% during the 4th quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock worth $93,000 after buying an additional 2,044 shares during the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

About ACADIA Pharmaceuticals

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.