ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) was up 8.7% on Tuesday . The company traded as high as $38.28 and last traded at $38.06, approximately 1,423,523 shares traded hands during mid-day trading. A decline of 3% from the average daily volume of 1,465,660 shares. The stock had previously closed at $35.00.

A number of equities analysts have recently weighed in on ACAD shares. HC Wainwright reaffirmed a “buy” rating and issued a $60.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $75.00 price target (up from $70.00) on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Citigroup started coverage on shares of ACADIA Pharmaceuticals in a research note on Thursday, March 5th. They issued a “buy” rating and a $69.00 price target on the stock. Guggenheim started coverage on shares of ACADIA Pharmaceuticals in a research note on Monday, December 16th. They issued a “buy” rating and a $60.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, December 31st. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $53.75.

The company has a quick ratio of 10.08, a current ratio of 10.16 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $5.44 billion, a price-to-earnings ratio of -23.79 and a beta of 2.38. The company’s 50-day simple moving average is $40.89 and its 200 day simple moving average is $41.91.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Wednesday, February 26th. The biopharmaceutical company reported ($0.34) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.03. ACADIA Pharmaceuticals had a negative net margin of 69.38% and a negative return on equity of 42.86%. The firm had revenue of $98.33 million for the quarter, compared to the consensus estimate of $95.87 million. On average, equities analysts expect that ACADIA Pharmaceuticals Inc. will post -1.87 earnings per share for the current fiscal year.

In other ACADIA Pharmaceuticals news, Director Laura Brege sold 10,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $42.19, for a total transaction of $421,900.00. Following the completion of the sale, the director now directly owns 10,000 shares in the company, valued at $421,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bros. Advisors Lp Baker purchased 1,050,000 shares of the firm’s stock in a transaction on Wednesday, March 18th. The shares were purchased at an average price of $33.30 per share, with a total value of $34,965,000.00. The disclosure for this purchase can be found here. 29.40% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. State Street Corp lifted its stake in shares of ACADIA Pharmaceuticals by 15.9% in the fourth quarter. State Street Corp now owns 4,003,677 shares of the biopharmaceutical company’s stock valued at $171,277,000 after buying an additional 548,277 shares during the period. Nuveen Asset Management LLC lifted its stake in shares of ACADIA Pharmaceuticals by 41.3% in the fourth quarter. Nuveen Asset Management LLC now owns 2,196,918 shares of the biopharmaceutical company’s stock valued at $93,984,000 after buying an additional 642,321 shares during the period. Great Point Partners LLC lifted its stake in shares of ACADIA Pharmaceuticals by 46.0% in the third quarter. Great Point Partners LLC now owns 2,190,742 shares of the biopharmaceutical company’s stock valued at $78,845,000 after buying an additional 690,742 shares during the period. Geode Capital Management LLC lifted its stake in shares of ACADIA Pharmaceuticals by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 1,621,059 shares of the biopharmaceutical company’s stock valued at $69,348,000 after buying an additional 128,565 shares during the period. Finally, Norges Bank bought a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at about $54,268,000. Institutional investors own 96.10% of the company’s stock.

About ACADIA Pharmaceuticals (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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