ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has earned an average recommendation of “Moderate Buy” from the sixteen brokerages that are covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $25.56.

A number of equities analysts have weighed in on ACAD shares. Royal Bank of Canada decreased their target price on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. BMO Capital Markets began coverage on shares of ACADIA Pharmaceuticals in a report on Thursday, June 27th. They set an “outperform” rating and a $31.00 price objective for the company. Citigroup dropped their target price on shares of ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. UBS Group decreased their target price on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Morgan Stanley cut ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $28.00 to $20.00 in a report on Wednesday, August 7th.

ACADIA Pharmaceuticals Stock Down 1.5 %

Shares of ACAD opened at $16.29 on Tuesday. ACADIA Pharmaceuticals has a twelve month low of $14.55 and a twelve month high of $32.59. The company has a market capitalization of $2.69 billion, a P/E ratio of -1,629.00, a price-to-earnings-growth ratio of 0.53 and a beta of 0.40. The firm has a 50 day moving average of $16.78 and a 200 day moving average of $16.74.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. ACADIA Pharmaceuticals had a return on equity of 6.89% and a net margin of 3.43%. The business had revenue of $241.96 million during the quarter, compared to analyst estimates of $235.95 million. During the same quarter last year, the company earned $0.01 EPS. The company’s quarterly revenue was up 46.4% compared to the same quarter last year. On average, sell-side analysts expect that ACADIA Pharmaceuticals will post 0.52 EPS for the current year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, COO Brendan Teehan sold 9,534 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $145,679.52. Following the sale, the chief operating officer now directly owns 52,177 shares in the company, valued at approximately $797,264.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 9,534 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $145,679.52. Following the completion of the sale, the chief operating officer now owns 52,177 shares in the company, valued at approximately $797,264.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen Davis sold 31,747 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $485,094.16. Following the completion of the transaction, the chief executive officer now owns 186,555 shares in the company, valued at $2,850,560.40. The disclosure for this sale can be found here. Insiders have sold 51,014 shares of company stock valued at $779,494 over the last 90 days. 28.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACAD. Covestor Ltd lifted its holdings in shares of ACADIA Pharmaceuticals by 70.5% in the first quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 840 shares in the last quarter. Quest Partners LLC purchased a new position in shares of ACADIA Pharmaceuticals during the fourth quarter valued at about $39,000. Headlands Technologies LLC bought a new stake in shares of ACADIA Pharmaceuticals in the first quarter worth about $48,000. Stonepine Capital Management LLC bought a new position in ACADIA Pharmaceuticals during the second quarter valued at approximately $81,000. Finally, Acadian Asset Management LLC purchased a new position in ACADIA Pharmaceuticals during the 2nd quarter valued at approximately $111,000. 96.71% of the stock is currently owned by institutional investors.

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.