ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Receives $35.82 Average PT from Analysts

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have been given a consensus rating of “Moderate Buy” by the fifteen brokerages that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $32.13.

A number of research firms recently issued reports on ACAD. Oppenheimer restated a “market perform” rating and set a $25.00 price target on shares of ACADIA Pharmaceuticals in a research note on Monday, February 5th. Robert W. Baird began coverage on ACADIA Pharmaceuticals in a report on Tuesday, January 30th. They issued an “outperform” rating and a $40.00 target price on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $42.00 price objective on shares of ACADIA Pharmaceuticals in a report on Wednesday, February 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $37.00 target price on shares of ACADIA Pharmaceuticals in a research report on Wednesday, April 10th. Finally, Mizuho downgraded ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $39.00 to $25.00 in a research report on Tuesday, March 12th.

ACADIA Pharmaceuticals Trading Up 2.3 %

ACAD opened at $17.10 on Friday. The stock’s 50-day moving average price is $19.94 and its 200 day moving average price is $23.55. ACADIA Pharmaceuticals has a 12-month low of $16.16 and a 12-month high of $33.99. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of -44.79 and a beta of 0.37.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). The company had revenue of $231.04 million during the quarter, compared to analyst estimates of $223.79 million. ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. ACADIA Pharmaceuticals’s revenue for the quarter was up 69.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.26) EPS. On average, research analysts forecast that ACADIA Pharmaceuticals will post 0.62 earnings per share for the current year.

Insider Activity

In other news, CFO Mark C. Schneyer sold 2,716 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $17.87, for a total value of $48,534.92. Following the completion of the sale, the chief financial officer now owns 28,742 shares in the company, valued at $513,619.54. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Mark C. Schneyer sold 2,716 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $17.87, for a total value of $48,534.92. Following the completion of the transaction, the chief financial officer now owns 28,742 shares of the company’s stock, valued at $513,619.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen Davis sold 5,577 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $24.67, for a total value of $137,584.59. Following the completion of the transaction, the chief executive officer now directly owns 101,890 shares of the company’s stock, valued at approximately $2,513,626.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,383 shares of company stock worth $1,291,362. 27.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ACAD. China Universal Asset Management Co. Ltd. lifted its holdings in shares of ACADIA Pharmaceuticals by 66.7% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 31,654 shares of the biopharmaceutical company’s stock worth $585,000 after purchasing an additional 12,669 shares during the last quarter. WCM Investment Management LLC acquired a new position in shares of ACADIA Pharmaceuticals in the 1st quarter worth $5,215,000. Wesbanco Bank Inc. acquired a new position in shares of ACADIA Pharmaceuticals in the 1st quarter worth $496,000. Diversified Trust Co grew its holdings in shares of ACADIA Pharmaceuticals by 6.3% in the 1st quarter. Diversified Trust Co now owns 30,865 shares of the biopharmaceutical company’s stock worth $571,000 after acquiring an additional 1,826 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in shares of ACADIA Pharmaceuticals by 24.2% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 142,998 shares of the biopharmaceutical company’s stock worth $2,644,000 after acquiring an additional 27,871 shares during the last quarter. Institutional investors 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.