ACADIA Pharmaceuticals (NASDAQ:ACAD) Upgraded at StockNews.com

ACADIA Pharmaceuticals (NASDAQ:ACAD) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Saturday.

A number of other analysts have also weighed in on the stock. Morgan Stanley reissued an “equal weight” rating and issued a $20.00 price target on shares of ACADIA Pharmaceuticals in a report on Friday. Guggenheim lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their price target for the company from $23.00 to $20.00 in a report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft began coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They issued a “hold” rating and a $22.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Finally, HC Wainwright reissued a “buy” rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

ACADIA Pharmaceuticals Trading Down 0.3 %

NASDAQ:ACAD opened at $17.56 on Friday. ACADIA Pharmaceuticals has a 1 year low of $14.15 and a 1 year high of $24.27. The firm has a 50 day moving average of $18.50 and a 200-day moving average of $16.94. The stock has a market capitalization of $2.93 billion, a P/E ratio of 22.51 and a beta of 0.43.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 4,919 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total transaction of $89,673.37. Following the sale, the director now directly owns 17,595 shares of the company’s stock, valued at $320,756.85. The trade was a 21.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 6,167 shares of company stock valued at $114,583 in the last three months. 28.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC lifted its position 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 in the last quarter. Barclays PLC increased its stake in shares of ACADIA Pharmaceuticals by 126.2% during the 3rd quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company’s stock worth $4,269,000 after purchasing an additional 154,854 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of ACADIA Pharmaceuticals during the 3rd quarter worth about $483,000. Burney Co. acquired a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth about $6,953,000. Finally, BNP Paribas Financial Markets increased its stake in shares of ACADIA Pharmaceuticals by 259.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 223,618 shares of the biopharmaceutical company’s stock worth $3,439,000 after purchasing an additional 161,331 shares during the last quarter. 96.71% of the stock is owned by 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.