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

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have earned an average rating of “Moderate Buy” from the seventeen analysts that are presently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $25.56.

ACAD has been the subject of a number of recent research reports. HC Wainwright reiterated a “buy” rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Raymond James reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 10th. Royal Bank of Canada reduced their price target on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. UBS Group lowered their price objective on ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ:ACAD opened at $17.93 on Wednesday. ACADIA Pharmaceuticals has a 1 year low of $14.15 and a 1 year high of $32.59. The firm has a market capitalization of $2.97 billion, a PE ratio of 22.99 and a beta of 0.38. The business’s 50 day moving average price is $15.51 and its 200-day moving average price is $15.99.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.06. The company had revenue of $250.40 million for the quarter, compared to analysts’ expectations of $248.83 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 27.29%. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.40) EPS. As a group, analysts expect that ACADIA Pharmaceuticals will post 0.51 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Stephen Davis sold 31,747 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $485,094.16. Following the completion of the transaction, the chief executive officer now directly owns 186,555 shares in the company, valued at approximately $2,850,560.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Stephen Davis sold 31,747 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 186,555 shares in the company, valued at approximately $2,850,560.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Brendan Teehan sold 9,534 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $145,679.52. Following the completion of the sale, the chief operating officer now directly owns 52,177 shares in the company, valued at approximately $797,264.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,014 shares of company stock worth $779,494 in the last ninety days. 28.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of ACAD. Algert Global LLC lifted its holdings in ACADIA Pharmaceuticals by 2.9% during the 3rd quarter. Algert Global LLC now owns 549,456 shares of the biopharmaceutical company’s stock worth $8,451,000 after buying an additional 15,313 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new stake in shares of ACADIA Pharmaceuticals during the 3rd quarter worth about $255,000. Intech Investment Management LLC purchased a new stake in ACADIA Pharmaceuticals during the third quarter worth approximately $580,000. Advisors Asset Management Inc. lifted its stake in ACADIA Pharmaceuticals by 13.4% during the third quarter. Advisors Asset Management Inc. now owns 21,087 shares of the biopharmaceutical company’s stock worth $324,000 after purchasing an additional 2,499 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in ACADIA Pharmaceuticals in the third quarter valued at approximately $483,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

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.