HC Wainwright Reaffirms “Buy” Rating for ACADIA Pharmaceuticals (NASDAQ:ACAD)

ACADIA Pharmaceuticals (NASDAQ:ACAD)‘s stock had its “buy” rating reiterated by HC Wainwright in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $27.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price objective indicates a potential upside of 52.89% from the stock’s previous close. 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 equities analysts also recently issued reports on ACAD. Morgan Stanley downgraded ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $28.00 to $20.00 in a research report on Wednesday, August 7th. UBS Group reduced their target price on ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Cantor Fitzgerald dropped their price target on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Raymond James restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 10th. Finally, Royal Bank of Canada dropped their target price on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $25.56.

ACADIA Pharmaceuticals Trading Up 2.7 %

ACADIA Pharmaceuticals stock opened at $17.66 on Thursday. The firm has a market cap of $2.93 billion, a PE ratio of 98.11 and a beta of 0.38. ACADIA Pharmaceuticals has a 12 month low of $14.15 and a 12 month high of $32.59. The stock’s 50 day simple moving average is $15.45 and its two-hundred day simple moving average is $15.98.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The firm had revenue of $250.40 million for the quarter, compared to the consensus estimate of $248.83 million. ACADIA Pharmaceuticals had a net margin of 3.43% and a return on equity of 6.89%. The firm’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.40) earnings per share. On average, equities research analysts forecast that ACADIA Pharmaceuticals will post 0.51 EPS for the current year.

Insider Transactions at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 9,534 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $145,679.52. Following the transaction, the chief operating officer now owns 52,177 shares of the company’s stock, valued at approximately $797,264.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, COO Brendan Teehan sold 9,534 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $145,679.52. Following the completion of the sale, the chief operating officer now directly owns 52,177 shares in the company, valued at approximately $797,264.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark C. Schneyer sold 9,733 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $148,720.24. Following the completion of the transaction, 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 in the last ninety days. Insiders own 28.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Park Place Capital Corp purchased a new stake in ACADIA Pharmaceuticals in the third quarter valued at $25,000. Values First Advisors Inc. acquired a new stake in shares of ACADIA Pharmaceuticals during the 3rd quarter worth about $27,000. Covestor Ltd raised its holdings in ACADIA Pharmaceuticals by 70.5% in the 1st quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 840 shares during the period. Headlands Technologies LLC acquired a new position in ACADIA Pharmaceuticals in the first quarter valued at about $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 worth $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.