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

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have earned a consensus rating of “Moderate Buy” from the seventeen ratings firms that are currently covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $24.00.

Several analysts have weighed in on the company. Morgan Stanley reissued an “equal weight” rating and issued a $20.00 target price on shares of ACADIA Pharmaceuticals in a report on Friday, March 7th. Guggenheim lowered ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their target price for the company from $23.00 to $20.00 in a report on Friday, January 3rd. StockNews.com raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. HC Wainwright reissued a “buy” rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They issued a “hold” rating and a $22.00 target price on the stock.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD stock opened at $17.20 on Tuesday. The business’s fifty day moving average price is $18.40 and its 200 day moving average price is $16.99. ACADIA Pharmaceuticals has a 1-year low of $14.15 and a 1-year high of $20.68. The firm has a market capitalization of $2.87 billion, a PE ratio of 22.05 and a beta of 0.43.

Insider Buying and Selling

In related news, Director Elizabeth A. Garofalo sold 4,919 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total transaction of $89,673.37. Following the transaction, the director now directly owns 17,595 shares in the company, valued at approximately $320,756.85. This represents a 21.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 6,167 shares of company stock worth $114,583. 28.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. increased its stake in ACADIA Pharmaceuticals by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 12,519 shares of the biopharmaceutical company’s stock worth $230,000 after acquiring an additional 795 shares during the last quarter. Quest Partners LLC increased its stake in ACADIA Pharmaceuticals by 42.3% during the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after acquiring an additional 1,047 shares during the last quarter. Arete Wealth Advisors LLC increased its stake in ACADIA Pharmaceuticals by 15.9% during the fourth quarter. Arete Wealth Advisors LLC now owns 13,700 shares of the biopharmaceutical company’s stock worth $251,000 after acquiring an additional 1,875 shares during the last quarter. KBC Group NV increased its stake in ACADIA Pharmaceuticals by 67.0% during the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock worth $93,000 after acquiring an additional 2,044 shares during the last quarter. Finally, Virtus Fund Advisers LLC acquired a new stake in ACADIA Pharmaceuticals during the fourth quarter worth about $39,000. 96.71% of the stock is currently owned by hedge funds and other 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.