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

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Get Rating) has been given an average recommendation of “Moderate Buy” by the nineteen ratings firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have given a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $20.44.

ACAD has been the topic of a number of recent research reports. Citigroup upped their target price on ACADIA Pharmaceuticals from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 31st. Oppenheimer upped their price target on ACADIA Pharmaceuticals from $16.00 to $17.00 and gave the stock a “market perform” rating in a report on Wednesday, February 15th. JPMorgan Chase & Co. reduced their price target on ACADIA Pharmaceuticals from $19.00 to $17.00 and set an “overweight” rating for the company in a report on Monday, November 14th. Mizuho reduced their price target on ACADIA Pharmaceuticals from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, December 21st. Finally, StockNews.com raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, December 1st.

Insider Activity at ACADIA Pharmaceuticals

In related news, CEO Stephen Davis sold 3,904 shares of the stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $17.13, for a total value of $66,875.52. Following the completion of the sale, the chief executive officer now owns 84,633 shares of the company’s stock, valued at $1,449,763.29. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Laura Brege sold 12,500 shares of the stock in a transaction that occurred on Thursday, January 12th. The stock was sold at an average price of $18.25, for a total value of $228,125.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen Davis sold 3,904 shares of the stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $17.13, for a total value of $66,875.52. Following the completion of the transaction, the chief executive officer now owns 84,633 shares of the company’s stock, valued at $1,449,763.29. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,525 shares of company stock valued at $314,203. 28.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ACAD. Raymond James Financial Services Advisors Inc. purchased a new position in ACADIA Pharmaceuticals in the first quarter worth approximately $572,000. HighTower Advisors LLC purchased a new position in shares of ACADIA Pharmaceuticals during the first quarter worth $1,077,000. MetLife Investment Management LLC boosted its position in shares of ACADIA Pharmaceuticals by 54.0% during the first quarter. MetLife Investment Management LLC now owns 66,351 shares of the biopharmaceutical company’s stock worth $1,607,000 after buying an additional 23,265 shares during the period. Rhumbline Advisers boosted its position in shares of ACADIA Pharmaceuticals by 3.9% during the first quarter. Rhumbline Advisers now owns 133,444 shares of the biopharmaceutical company’s stock worth $3,232,000 after buying an additional 5,011 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in shares of ACADIA Pharmaceuticals during the first quarter worth $1,380,000. 92.79% of the stock is currently owned by hedge funds and other institutional investors.

ACADIA Pharmaceuticals Stock Down 0.9 %

Shares of ACAD opened at $18.92 on Monday. ACADIA Pharmaceuticals has a 52 week low of $12.24 and a 52 week high of $28.06. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of -14.01 and a beta of 0.64. The stock’s 50-day moving average price is $17.95 and its 200-day moving average price is $16.79.

About ACADIA Pharmaceuticals

(Get Rating)

ACADIA Pharmaceuticals, Inc operates as a biopharmaceutical company. It focuses on the development and commercialization of medicines to address unmet medical needs in central nervous system, or CNS, disorders. The firm’s products include Nuplazid, which is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis.