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

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have been given an average rating of “Moderate Buy” by the seventeen research firms that are presently covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $25.25.

A number of equities research analysts have recently weighed in on ACAD shares. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. Guggenheim downgraded ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their target price for the company from $23.00 to $20.00 in a research report on Friday, January 3rd. Raymond James reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 10th. StockNews.com cut shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th.

Insiders Place Their Bets

In other news, COO Brendan Teehan sold 10,329 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $173,630.49. Following the transaction, the chief operating officer now owns 62,105 shares of the company’s stock, valued at approximately $1,043,985.05. The trade was a 14.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark C. Schneyer sold 10,259 shares of ACADIA Pharmaceuticals stock in a transaction on 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 owns 53,302 shares in the company, valued at approximately $896,006.62. This trade represents a 16.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,661 shares of company stock valued at $414,551. 28.30% of the stock is currently owned by insiders.

Institutional Trading of ACADIA Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in ACAD. Arizona State Retirement System boosted its holdings in ACADIA Pharmaceuticals by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 29,983 shares of the biopharmaceutical company’s stock valued at $487,000 after purchasing an additional 655 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in ACADIA Pharmaceuticals by 5.6% during the second quarter. Commonwealth Equity Services LLC now owns 14,770 shares of the biopharmaceutical company’s stock worth $240,000 after purchasing an additional 778 shares in the last quarter. Quest Partners LLC grew its holdings in ACADIA Pharmaceuticals by 42.3% in 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. Mirae Asset Global Investments Co. Ltd. increased its position in shares of ACADIA Pharmaceuticals by 21.6% in the third 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. Finally, Park Place Capital Corp acquired a new position in shares of ACADIA Pharmaceuticals during the 3rd quarter worth $25,000. Hedge funds and other institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Trading Up 1.2 %

Shares of NASDAQ:ACAD opened at $17.60 on Thursday. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 22.56 and a beta of 0.37. ACADIA Pharmaceuticals has a 12-month low of $14.15 and a 12-month high of $31.10. The business has a 50-day moving average price of $16.97 and a 200 day moving average price of $16.46.

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

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.