ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Receives $24.00 Average Price Target from Analysts

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has been given a consensus recommendation of “Moderate Buy” by the seventeen analysts that are currently covering the company, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $24.00.

ACAD has been the topic of several recent research reports. StockNews.com lowered shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. HC Wainwright reiterated a “buy” rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Guggenheim downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $23.00 to $20.00 in a research report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft began coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “hold” rating and a $22.00 price objective for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th.

Institutional Trading of ACADIA Pharmaceuticals

A number of hedge funds have recently bought and sold shares of ACAD. Values First Advisors Inc. acquired a new stake in ACADIA Pharmaceuticals in the 3rd quarter valued at about $27,000. Virtus Fund Advisers LLC acquired a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at about $39,000. R Squared Ltd acquired a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at about $47,000. Quest Partners LLC grew its stake in shares of ACADIA Pharmaceuticals by 42.3% in the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock valued at $54,000 after buying an additional 1,047 shares during the period. Finally, GF Fund Management CO. LTD. purchased a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at approximately $64,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Stock Performance

NASDAQ:ACAD opened at $19.95 on Friday. ACADIA Pharmaceuticals has a one year low of $14.15 and a one year high of $26.56. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 25.58 and a beta of 0.37. The firm’s fifty day moving average is $18.20 and its two-hundred day moving average is $16.73.

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.