ACADIA Pharmaceuticals (NASDAQ:ACAD) Shares Gap Up to $15.50

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) shares gapped up before the market opened on Thursday . The stock had previously closed at $15.50, but opened at $16.00. ACADIA Pharmaceuticals shares last traded at $16.09, with a volume of 52,972 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ACAD shares. Mizuho dropped their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. Cantor Fitzgerald reissued an “overweight” rating and set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, May 9th. Morgan Stanley dropped their price objective on shares of ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating on the stock in a report on Wednesday, March 13th. HC Wainwright decreased their target price on shares of ACADIA Pharmaceuticals from $33.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $29.00 target price on shares of ACADIA Pharmaceuticals in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, ACADIA Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $28.71.

ACADIA Pharmaceuticals Stock Down 0.7 %

The business’s 50-day simple moving average is $15.65 and its two-hundred day simple moving average is $21.35. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of -1,623.38 and a beta of 0.40.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.06. ACADIA Pharmaceuticals had a negative net margin of 0.21% and a negative return on equity of 0.41%. The business had revenue of $205.83 million during the quarter, compared to the consensus estimate of $208.31 million. During the same quarter in the prior year, the firm posted ($0.27) earnings per share. The company’s revenue was up 73.8% compared to the same quarter last year. On average, analysts expect that ACADIA Pharmaceuticals Inc. will post 0.58 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Mark C. Schneyer sold 3,503 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total transaction of $59,340.82. Following the completion of the transaction, the chief financial officer now owns 32,053 shares in the company, valued at approximately $542,977.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Mark C. Schneyer sold 3,503 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total transaction of $59,340.82. Following the completion of the transaction, the chief financial officer now owns 32,053 shares in the company, valued at approximately $542,977.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider James Kihara sold 1,790 shares of the company’s stock in a transaction dated 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 owns 13,100 shares of the company’s stock, valued at approximately $234,097. The disclosure for this sale can be found here. Insiders sold a total of 54,356 shares of company stock worth $949,987 in the last 90 days. Insiders own 28.30% of the company’s stock.

Institutional Trading of ACADIA Pharmaceuticals

Large investors have recently bought and sold shares of the business. Fisher Asset Management LLC purchased a new stake in ACADIA Pharmaceuticals during the 4th quarter valued at about $4,479,000. Perceptive Advisors LLC purchased a new stake in ACADIA Pharmaceuticals during the 4th quarter valued at about $3,162,000. Jump Financial LLC grew its stake in ACADIA Pharmaceuticals by 326.3% during the 4th quarter. Jump Financial LLC now owns 116,341 shares of the biopharmaceutical company’s stock valued at $3,643,000 after acquiring an additional 89,053 shares in the last quarter. M&G Investment Management Ltd. purchased a new stake in ACADIA Pharmaceuticals during the 4th quarter valued at about $10,349,000. Finally, UBS Group AG grew its stake in ACADIA Pharmaceuticals by 112.4% during the 4th quarter. UBS Group AG now owns 307,359 shares of the biopharmaceutical company’s stock valued at $9,623,000 after acquiring an additional 162,663 shares in the last quarter. 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.