ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Receives $24.21 Average PT from Brokerages

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have earned an average recommendation of “Moderate Buy” from the eleven research firms that are covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $24.70.

A number of research firms have weighed in on ACAD. Deutsche Bank Aktiengesellschaft began coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a “hold” rating and a $22.00 target price for the company. Morgan Stanley restated an “equal weight” rating and set a $20.00 target price on shares of ACADIA Pharmaceuticals in a research note on Friday, March 7th. StockNews.com raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. HC Wainwright reissued a “buy” rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Finally, UBS Group lowered their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, April 28th.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ ACAD opened at $17.44 on Wednesday. The business’s 50-day simple moving average is $15.83 and its 200-day simple moving average is $16.94. ACADIA Pharmaceuticals has a 52 week low of $13.40 and a 52 week high of $20.68. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 22.36 and a beta of 0.47.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The company had revenue of $244.32 million for the quarter, compared to the consensus estimate of $239.32 million. During the same quarter last year, the company posted $0.10 earnings per share. The company’s revenue for the quarter was up 18.7% compared to the same quarter last year. As a group, equities research analysts forecast that ACADIA Pharmaceuticals will post 0.7 earnings per share for the current year.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 4,919 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total transaction of $89,673.37. Following the completion of the transaction, the director now owns 17,595 shares in the company, valued at $320,756.85. This trade represents a 21.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark C. Schneyer sold 3,171 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $17.05, for a total value of $54,065.55. Following the sale, the executive vice president now directly owns 56,889 shares in the company, valued at $969,957.45. The trade was a 5.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,994 shares of company stock worth $313,131 over the last 90 days. Corporate insiders own 26.50% of the company’s stock.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Exchange Traded Concepts LLC bought a new position in shares of ACADIA Pharmaceuticals during the first quarter valued at $29,000. Picton Mahoney Asset Management bought a new stake in shares of ACADIA Pharmaceuticals in the 1st quarter worth about $32,000. Federated Hermes Inc. increased its position in shares of ACADIA Pharmaceuticals by 231.5% during the 1st quarter. Federated Hermes Inc. now owns 2,317 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 1,618 shares in the last quarter. Virtus Fund Advisers LLC bought a new position in ACADIA Pharmaceuticals during the 4th quarter valued at about $39,000. Finally, R Squared Ltd acquired a new position in ACADIA Pharmaceuticals in the fourth quarter valued at about $47,000. 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.