ACADIA Pharmaceuticals (NASDAQ:ACAD) Receives “Buy” Rating from HC Wainwright

ACADIA Pharmaceuticals (NASDAQ:ACAD)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research report issued on Thursday,Benzinga reports. They currently have a $27.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price target indicates a potential upside of 37.70% from the stock’s current price.

ACAD has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft began coverage on ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a “hold” rating and a $22.00 price target for the company. StockNews.com downgraded ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Needham & Company LLC reissued a “buy” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday. Finally, Guggenheim downgraded 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 research report on Friday, January 3rd. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

ACADIA Pharmaceuticals Stock Performance

ACAD opened at $19.61 on Thursday. The business’s 50-day simple moving average is $18.32 and its 200-day simple moving average is $16.79. ACADIA Pharmaceuticals has a one year low of $14.15 and a one year high of $26.56. The company has a market cap of $3.26 billion, a P/E ratio of 25.14 and a beta of 0.37.

Institutional Trading of ACADIA Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of ACAD. Creative Planning raised its stake in ACADIA Pharmaceuticals by 71.4% during the third quarter. Creative Planning now owns 25,061 shares of the biopharmaceutical company’s stock valued at $385,000 after buying an additional 10,441 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in ACADIA Pharmaceuticals by 11.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 121,625 shares of the biopharmaceutical company’s stock valued at $1,871,000 after buying an additional 12,787 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in ACADIA Pharmaceuticals by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 1,066 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in ACADIA Pharmaceuticals by 64.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 31,903 shares of the biopharmaceutical company’s stock valued at $491,000 after buying an additional 12,493 shares in the last quarter. Finally, US Bancorp DE raised its stake in ACADIA Pharmaceuticals by 2,084.0% during the third quarter. US Bancorp DE now owns 32,934 shares of the biopharmaceutical company’s stock valued at $507,000 after buying an additional 31,426 shares in the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

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.