ACADIA Pharmaceuticals (NASDAQ:ACAD) Given “Buy” Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a research note issued to investors on Thursday morning,Benzinga reports. HC Wainwright currently has a $27.00 price objective on the biopharmaceutical company’s stock. HC Wainwright also issued estimates for ACADIA Pharmaceuticals’ Q1 2025 earnings at $0.10 EPS, Q2 2025 earnings at $0.16 EPS, Q3 2025 earnings at $0.20 EPS, Q4 2025 earnings at $0.24 EPS and FY2029 earnings at $2.32 EPS.

A number of other brokerages also recently commented on ACAD. Deutsche Bank Aktiengesellschaft started coverage on ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a “hold” rating and a $22.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday. Guggenheim downgraded ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $23.00 to $20.00 in a research report on Friday, January 3rd. Finally, StockNews.com downgraded ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

ACADIA Pharmaceuticals Price Performance

NASDAQ ACAD opened at $19.34 on Thursday. ACADIA Pharmaceuticals has a 1-year low of $14.15 and a 1-year high of $25.20. The company has a market cap of $3.22 billion, a PE ratio of 24.79 and a beta of 0.37. The stock’s 50 day simple moving average is $18.37 and its 200-day simple moving average is $16.81.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of ACADIA Pharmaceuticals by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 13,947,640 shares of the biopharmaceutical company’s stock valued at $255,939,000 after buying an additional 104,444 shares in the last quarter. State Street Corp grew its stake in shares of ACADIA Pharmaceuticals by 3.0% in the third quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company’s stock valued at $91,878,000 after buying an additional 173,084 shares in the last quarter. Fred Alger Management LLC grew its stake in shares of ACADIA Pharmaceuticals by 17.8% in the third quarter. Fred Alger Management LLC now owns 3,186,389 shares of the biopharmaceutical company’s stock valued at $49,007,000 after buying an additional 481,950 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of ACADIA Pharmaceuticals by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,875,540 shares of the biopharmaceutical company’s stock valued at $44,234,000 after buying an additional 30,826 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of ACADIA Pharmaceuticals by 27.0% in the fourth quarter. First Trust Advisors LP now owns 2,700,125 shares of the biopharmaceutical company’s stock valued at $49,547,000 after buying an additional 574,251 shares in the last quarter. 96.71% of the stock is owned by institutional investors and hedge funds.

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.