ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Receives $28.94 Average Price Target from Analysts

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has earned a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $28.94.

A number of analysts recently commented on the stock. TheStreet upgraded shares of ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a research report on Tuesday, February 27th. Royal Bank of Canada reduced their price target on ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. Stifel Nicolaus dropped their price objective on ACADIA Pharmaceuticals from $26.00 to $21.00 and set a “hold” rating on the stock in a research note on Thursday, May 9th. Oppenheimer reaffirmed a “market perform” rating and set a $19.00 price target on shares of ACADIA Pharmaceuticals in a research report on Monday, May 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, May 9th.

Insider Activity

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 17,714 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $17.90, for a total transaction of $317,080.60. Following the transaction, the chief executive officer now directly owns 118,842 shares in the company, valued at approximately $2,127,271.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Stephen Davis sold 17,714 shares of ACADIA Pharmaceuticals stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $17.90, for a total transaction of $317,080.60. Following the completion of the transaction, the chief executive officer now directly owns 118,842 shares in the company, valued at $2,127,271.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark C. Schneyer sold 5,434 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $17.90, for a total transaction of $97,268.60. Following the completion of the sale, the chief financial officer now owns 26,183 shares in the company, valued at approximately $468,675.70. The disclosure for this sale can be found here. Insiders have sold 82,644 shares of company stock valued at $1,456,342 in the last ninety days. 28.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Several institutional investors have recently bought and sold shares of the stock. Empire Life Investments Inc. raised its stake in shares of ACADIA Pharmaceuticals by 0.3% during the 4th quarter. Empire Life Investments Inc. now owns 174,815 shares of the biopharmaceutical company’s stock worth $5,473,000 after purchasing an additional 467 shares during the period. Handelsbanken Fonder AB grew its position in shares of ACADIA Pharmaceuticals by 2.3% during the 4th quarter. Handelsbanken Fonder AB now owns 31,633 shares of the biopharmaceutical company’s stock valued at $990,000 after acquiring an additional 700 shares during the period. Swiss National Bank increased its stake in shares of ACADIA Pharmaceuticals by 0.4% during the 1st quarter. Swiss National Bank now owns 210,604 shares of the biopharmaceutical company’s stock worth $3,894,000 after purchasing an additional 800 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of ACADIA Pharmaceuticals by 1.6% in the 4th quarter. Franklin Resources Inc. now owns 50,405 shares of the biopharmaceutical company’s stock worth $1,578,000 after purchasing an additional 803 shares during the period. Finally, Covestor Ltd lifted its stake in ACADIA Pharmaceuticals by 70.5% in the first quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 840 shares during the last quarter. Institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Trading Up 0.2 %

NASDAQ:ACAD opened at $14.87 on Friday. ACADIA Pharmaceuticals has a 1-year low of $14.55 and a 1-year high of $33.99. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of -1,485.51 and a beta of 0.41. The business’s 50-day moving average price is $15.91 and its two-hundred day moving average price is $21.69.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.06. The business had revenue of $205.83 million for the quarter, compared to the consensus estimate of $208.31 million. ACADIA Pharmaceuticals had a negative net margin of 0.21% and a negative return on equity of 0.41%. ACADIA Pharmaceuticals’s revenue for the quarter was up 73.8% on a year-over-year basis. During the same period last year, the company posted ($0.27) EPS. Sell-side analysts predict that ACADIA Pharmaceuticals will post 0.58 earnings per share for the current year.

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.