ACADIA Pharmaceuticals (NASDAQ:ACAD) Given Buy Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a $27.00 price objective on the biopharmaceutical company’s stock. HC Wainwright also issued estimates for ACADIA Pharmaceuticals’ Q4 2024 earnings at $0.14 EPS and FY2028 earnings at $2.54 EPS.

A number of other brokerages have also commented on ACAD. UBS Group decreased their target price on ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Raymond James reiterated a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, October 10th. Citigroup cut their price target on ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada lowered their price objective on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.56.

ACADIA Pharmaceuticals Price Performance

Shares of ACADIA Pharmaceuticals stock traded up $0.41 on Thursday, hitting $17.61. 888,829 shares of the company’s stock traded hands, compared to its average volume of 1,687,000. The company has a fifty day moving average of $15.43 and a two-hundred day moving average of $15.97. ACADIA Pharmaceuticals has a one year low of $14.15 and a one year high of $32.59. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 95.56 and a beta of 0.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. The company had revenue of $250.40 million during the quarter, compared to analyst estimates of $248.83 million. ACADIA Pharmaceuticals had a net margin of 3.43% and a return on equity of 6.89%. ACADIA Pharmaceuticals’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.40) EPS. Equities research analysts anticipate that ACADIA Pharmaceuticals will post 0.51 earnings per share for the current year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 9,534 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $145,679.52. Following the completion of the sale, the chief operating officer now directly owns 52,177 shares of the company’s stock, valued at $797,264.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, COO Brendan Teehan sold 9,534 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $145,679.52. Following the sale, the chief operating officer now owns 52,177 shares of the company’s stock, valued at $797,264.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mark C. Schneyer sold 9,733 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $148,720.24. Following the sale, the chief financial officer now owns 43,735 shares in the company, valued at $668,270.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,014 shares of company stock worth $779,494 over the last three months. 28.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several hedge funds have recently made changes to their positions in the stock. Park Place Capital Corp purchased a new stake in ACADIA Pharmaceuticals in the 3rd quarter worth approximately $25,000. Values First Advisors Inc. bought a new position in shares of ACADIA Pharmaceuticals in the third quarter worth $27,000. Covestor Ltd raised its position in shares of ACADIA Pharmaceuticals by 70.5% in the first quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 840 shares in the last quarter. Headlands Technologies LLC bought a new stake in ACADIA Pharmaceuticals during the first quarter valued at $48,000. Finally, Quest Partners LLC boosted its stake in ACADIA Pharmaceuticals by 42.3% during the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock valued at $54,000 after buying an additional 1,047 shares during the period. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

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.