ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) rose 8.2% during trading on Monday . The company traded as high as $43.45 and last traded at $43.22, approximately 2,801,464 shares changed hands during mid-day trading. An increase of 74% from the average daily volume of 1,606,859 shares. The stock had previously closed at $39.95.

ACAD has been the topic of a number of research analyst reports. Piper Jaffray Companies upped their price target on shares of ACADIA Pharmaceuticals from $35.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. HC Wainwright set a $60.00 price target on shares of ACADIA Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, September 10th. Cantor Fitzgerald upped their price target on shares of ACADIA Pharmaceuticals from $49.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Leerink Swann raised shares of ACADIA Pharmaceuticals from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $21.00 to $50.00 in a research note on Friday, September 13th. Finally, Cowen reaffirmed a “buy” rating and issued a $66.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Monday, September 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $47.87.

The stock’s 50 day moving average is $37.36 and its two-hundred day moving average is $29.03. The company has a market capitalization of $6.25 billion, a PE ratio of -22.28 and a beta of 2.81. The company has a quick ratio of 6.79, a current ratio of 6.85 and a debt-to-equity ratio of 0.02.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Wednesday, July 31st. The biopharmaceutical company reported ($0.38) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.46) by $0.08. The company had revenue of $83.21 million during the quarter, compared to analyst estimates of $72.50 million. ACADIA Pharmaceuticals had a negative net margin of 101.45% and a negative return on equity of 70.97%. The firm’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.51) earnings per share. On average, sell-side analysts predict that ACADIA Pharmaceuticals Inc. will post -1.86 EPS for the current fiscal year.

In other ACADIA Pharmaceuticals news, insider Eric Alejandro Miller sold 28,467 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $39.49, for a total transaction of $1,124,161.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Stephen Davis sold 29,792 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $40.00, for a total transaction of $1,191,680.00. Following the sale, the chief executive officer now directly owns 29,792 shares of the company’s stock, valued at $1,191,680. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,942 shares of company stock valued at $3,840,880. Insiders own 29.40% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in ACAD. Clearbridge Investments LLC purchased a new stake in shares of ACADIA Pharmaceuticals during the first quarter valued at about $27,000. North Star Investment Management Corp. purchased a new stake in ACADIA Pharmaceuticals during the 3rd quarter worth approximately $32,000. Coastal Investment Advisors Inc. acquired a new position in ACADIA Pharmaceuticals during the 3rd quarter valued at approximately $36,000. Whittier Trust Co. acquired a new position in ACADIA Pharmaceuticals during the 3rd quarter valued at approximately $39,000. Finally, Steward Partners Investment Advisory LLC acquired a new position in ACADIA Pharmaceuticals during the 2nd quarter valued at approximately $42,000. 94.88% of the stock is owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Company Profile (NASDAQ:ACAD)

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.

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