ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Receives $25.56 Average PT from Brokerages

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has been given an average recommendation of “Moderate Buy” by the seventeen brokerages that are currently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $25.56.

Several analysts have issued reports on ACAD shares. Cantor Fitzgerald dropped their target price on ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Citigroup cut their target price on ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Morgan Stanley lowered shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $28.00 to $20.00 in a research report on Wednesday, August 7th. Raymond James reaffirmed a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 10th. Finally, StockNews.com cut shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday.

Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, COO Brendan Teehan sold 9,534 shares of ACADIA Pharmaceuticals stock in a transaction dated 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 transaction, the chief operating officer now owns 52,177 shares in the company, valued at $797,264.56. The trade was a 15.45 % decrease in their position. 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 31,747 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $485,094.16. Following the transaction, the chief executive officer now owns 186,555 shares in the company, valued at $2,850,560.40. This represents a 14.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,014 shares of company stock valued at $779,494. 28.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ACAD. Park Place Capital Corp acquired a new position in ACADIA Pharmaceuticals during the third quarter worth $25,000. Values First Advisors Inc. acquired a new position in shares of ACADIA Pharmaceuticals during the 3rd quarter worth about $27,000. Covestor Ltd lifted its stake in ACADIA Pharmaceuticals by 70.5% in the 1st quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 840 shares in the last quarter. Headlands Technologies LLC acquired a new stake in ACADIA Pharmaceuticals in the 1st quarter worth about $48,000. Finally, Quest Partners LLC increased its stake in ACADIA Pharmaceuticals by 42.3% during the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after buying an additional 1,047 shares in the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Price Performance

NASDAQ:ACAD opened at $16.77 on Wednesday. ACADIA Pharmaceuticals has a 1-year low of $14.15 and a 1-year high of $32.59. The company has a 50-day moving average of $15.56 and a 200 day moving average of $16.01. The firm has a market cap of $2.79 billion, a PE ratio of 21.50 and a beta of 0.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.06. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The firm had revenue of $250.40 million during the quarter, compared to analysts’ expectations of $248.83 million. During the same quarter in the prior year, the company earned ($0.40) EPS. The company’s revenue was up 18.3% compared to the same quarter last year. Sell-side analysts anticipate that ACADIA Pharmaceuticals will post 0.72 EPS for the current fiscal 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.