Brokerages Set ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) PT at $25.56

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have received an average recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the stock, Marketbeat.com 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 analysts that have covered the stock in the last year is $25.56.

A number of research analysts have recently commented on ACAD shares. StockNews.com lowered shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Raymond James restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 10th. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th.

ACADIA Pharmaceuticals Trading Down 1.2 %

ACAD opened at $18.53 on Friday. ACADIA Pharmaceuticals has a 12 month low of $14.15 and a 12 month high of $32.59. The company has a market cap of $3.08 billion, a PE ratio of 23.76 and a beta of 0.40. The company has a 50 day moving average of $15.85 and a 200 day moving average of $16.12.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The firm had revenue of $250.40 million during the quarter, compared to analyst estimates of $248.83 million. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The business’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period last year, the company earned ($0.40) earnings per share. Research analysts forecast that ACADIA Pharmaceuticals will post 0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, CFO Mark C. Schneyer sold 10,259 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $172,453.79. Following the completion of the sale, the chief financial officer now owns 53,302 shares of the company’s stock, valued at $896,006.62. This represents a 16.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider James Kihara sold 4,073 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $68,467.13. Following the completion of the sale, the insider now owns 19,863 shares of the company’s stock, valued at $333,897.03. This trade represents a 17.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,661 shares of company stock worth $414,551. 28.30% of the stock is owned by insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC grew its holdings in ACADIA Pharmaceuticals by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,875,540 shares of the biopharmaceutical company’s stock valued at $44,234,000 after buying an additional 30,826 shares in the last quarter. Barclays PLC raised its stake in ACADIA Pharmaceuticals by 126.2% in the third quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company’s stock worth $4,269,000 after buying an additional 154,854 shares in the last quarter. State Street Corp raised its holdings in ACADIA Pharmaceuticals by 3.0% in the third quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company’s stock worth $91,878,000 after purchasing an additional 173,084 shares in the last quarter. Iron Triangle Partners LP acquired a new stake in ACADIA Pharmaceuticals in the third quarter worth about $11,535,000. Finally, Erste Asset Management GmbH acquired a new stake in ACADIA Pharmaceuticals during the 3rd quarter worth about $3,802,000. 96.71% of the stock is owned by institutional investors.

About ACADIA Pharmaceuticals

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.