Analysts Set ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Target Price at $25.60

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has received an average rating of “Moderate Buy” from the seventeen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $25.25.

ACAD has been the subject of several research reports. Raymond James restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 10th. Guggenheim cut ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their target price for the stock from $23.00 to $20.00 in a report on Friday. Needham & Company LLC restated a “buy” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. HC Wainwright reissued a “buy” rating and set a $27.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Finally, StockNews.com cut shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th.

ACADIA Pharmaceuticals Stock Performance

NASDAQ:ACAD opened at $18.41 on Thursday. The company has a market capitalization of $3.06 billion, a PE ratio of 23.60 and a beta of 0.37. ACADIA Pharmaceuticals has a fifty-two week low of $14.15 and a fifty-two week high of $31.10. The company has a 50 day simple moving average of $16.81 and a two-hundred day simple moving average of $16.41.

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

Insider Activity

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 transaction, the chief financial officer now directly owns 53,302 shares of the company’s stock, valued at approximately $896,006.62. This represents a 16.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James Kihara sold 4,073 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $68,467.13. Following the transaction, the insider now owns 19,863 shares in the company, valued at approximately $333,897.03. This represents a 17.02 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,661 shares of company stock valued at $414,551. 28.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Park Place Capital Corp purchased a new position in ACADIA Pharmaceuticals during the third quarter valued at $25,000. Values First Advisors Inc. bought a new position in shares of ACADIA Pharmaceuticals during the third quarter valued at approximately $27,000. Quest Partners LLC lifted its holdings in shares of ACADIA Pharmaceuticals by 42.3% during the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 1,047 shares during the last quarter. Stonepine Capital Management LLC bought a new stake in shares of ACADIA Pharmaceuticals in the 2nd quarter worth approximately $81,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in ACADIA Pharmaceuticals by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 1,066 shares in the last quarter. Hedge funds and other 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.