ACADIA Pharmaceuticals (NASDAQ:ACAD) Earns “Equal Weight” Rating from Morgan Stanley

Morgan Stanley reaffirmed their equal weight rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a research report report published on Friday morning,Benzinga reports. The brokerage currently has a $20.00 price objective on the biopharmaceutical company’s stock.

Several other research firms also recently weighed in on ACAD. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Guggenheim downgraded ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $23.00 to $20.00 in a research note on Friday, January 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. StockNews.com downgraded ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.00.

ACADIA Pharmaceuticals Trading Down 0.3 %

Shares of ACAD stock opened at $17.56 on Friday. The company has a market cap of $2.93 billion, a price-to-earnings ratio of 22.51 and a beta of 0.43. The stock has a 50 day simple moving average of $18.50 and a 200-day simple moving average of $16.94. ACADIA Pharmaceuticals has a 12-month low of $14.15 and a 12-month high of $24.27.

Insiders Place Their Bets

In other news, Director Elizabeth A. Garofalo sold 4,919 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total transaction of $89,673.37. Following the sale, the director now owns 17,595 shares in the company, valued at $320,756.85. This trade represents a 21.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 6,167 shares of company stock valued at $114,583. Corporate insiders own 28.30% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Virtus Fund Advisers LLC acquired a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth $39,000. R Squared Ltd acquired a new position in ACADIA Pharmaceuticals in the fourth quarter valued at $47,000. GF Fund Management CO. LTD. acquired a new position in ACADIA Pharmaceuticals in the fourth quarter valued at $64,000. Quest Partners LLC boosted its holdings in ACADIA Pharmaceuticals by 42.3% in the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock valued at $54,000 after acquiring an additional 1,047 shares during the last quarter. Finally, KBC Group NV boosted its holdings in ACADIA Pharmaceuticals by 67.0% in the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock valued at $93,000 after acquiring an additional 2,044 shares during the last quarter. Institutional investors and hedge funds 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.