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

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has been given a consensus recommendation of “Moderate Buy” by the seventeen brokerages that are presently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $25.56.

Several brokerages have recently weighed in on ACAD. Citigroup reduced their price objective on shares of ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Royal Bank of Canada reduced their price objective on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. HC Wainwright reiterated a “buy” rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, August 8th. Needham & Company LLC reduced their price target on shares of ACADIA Pharmaceuticals from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, Cantor Fitzgerald reduced their price target on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th.

ACADIA Pharmaceuticals Stock Down 1.0 %

NASDAQ ACAD opened at $14.34 on Friday. The stock has a market capitalization of $2.37 billion, a PE ratio of -1,434.00, a price-to-earnings-growth ratio of 0.49 and a beta of 0.38. ACADIA Pharmaceuticals has a 52 week low of $14.15 and a 52 week high of $32.59. The firm has a 50 day moving average of $15.56 and a two-hundred day moving average of $16.11.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.02. The business had revenue of $241.96 million during the quarter, compared to the consensus estimate of $235.95 million. ACADIA Pharmaceuticals had a net margin of 3.43% and a return on equity of 6.89%. The company’s revenue was up 46.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.01 EPS. On average, equities research analysts expect that ACADIA Pharmaceuticals will post 0.52 earnings per share for the current fiscal year.

Insider Transactions at ACADIA Pharmaceuticals

In other news, CEO Stephen Davis sold 31,747 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $485,094.16. Following the transaction, the chief executive officer now directly owns 186,555 shares of the company’s stock, valued at $2,850,560.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Mark C. Schneyer sold 9,733 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $148,720.24. Following the sale, the chief financial officer now directly owns 43,735 shares of the company’s stock, valued at approximately $668,270.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Stephen Davis sold 31,747 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $485,094.16. Following the completion of the sale, the chief executive officer now directly owns 186,555 shares in the company, valued at approximately $2,850,560.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,014 shares of company stock valued at $779,494 in the last ninety days. 28.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in ACAD. Park Place Capital Corp acquired a new stake in ACADIA Pharmaceuticals in the 3rd quarter valued at about $25,000. Values First Advisors Inc. acquired a new stake in ACADIA Pharmaceuticals in the 3rd quarter valued at about $27,000. Covestor Ltd grew 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 acquiring an additional 840 shares during the last quarter. Headlands Technologies LLC acquired a new stake in ACADIA Pharmaceuticals in the 1st quarter valued at about $48,000. Finally, Stonepine Capital Management LLC acquired a new stake in ACADIA Pharmaceuticals in the 2nd quarter valued at about $81,000. 96.71% of the stock is owned by institutional investors and hedge funds.

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.