ACADIA Pharmaceuticals’ (ACAD) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a research report sent to investors on Thursday morning,Benzinga reports. Needham & Company LLC currently has a $28.00 price objective on the biopharmaceutical company’s stock.

A number of other equities analysts have also weighed in on the stock. StockNews.com lowered shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. HC Wainwright restated a “buy” rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Guggenheim lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $23.00 to $20.00 in a research report on Friday, January 3rd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a “hold” rating and a $22.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $24.00.

ACADIA Pharmaceuticals Stock Up 1.3 %

Shares of NASDAQ ACAD opened at $19.60 on Thursday. The company’s 50-day simple moving average is $18.42 and its 200-day simple moving average is $16.85. ACADIA Pharmaceuticals has a 52-week low of $14.15 and a 52-week 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.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 Asset Management L.P. purchased a new stake in ACADIA Pharmaceuticals during the 4th quarter worth approximately $40,935,000. SG Americas Securities LLC increased its stake in ACADIA Pharmaceuticals by 380.3% during the 4th quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company’s stock worth $45,576,000 after buying an additional 1,966,607 shares during the period. Norges Bank purchased a new stake in ACADIA Pharmaceuticals during the 4th quarter worth approximately $25,555,000. Renaissance Technologies LLC increased its stake in ACADIA Pharmaceuticals by 204.2% during the 4th quarter. Renaissance Technologies LLC now owns 1,226,533 shares of the biopharmaceutical company’s stock worth $22,507,000 after buying an additional 823,333 shares during the period. Finally, Two Sigma Advisers LP increased its stake in ACADIA Pharmaceuticals by 160.8% during the 4th quarter. Two Sigma Advisers LP now owns 1,263,200 shares of the biopharmaceutical company’s stock worth $23,180,000 after buying an additional 778,900 shares during the period. 96.71% of the stock is owned by hedge funds and other institutional investors.

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.