ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Given Consensus Rating of “Moderate Buy” by Brokerages

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has received a consensus recommendation of “Moderate Buy” from the twenty research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation, twelve have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $31.1579.

Several research firms have commented on ACAD. Citigroup boosted their target price on shares of ACADIA Pharmaceuticals from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of ACADIA Pharmaceuticals in a report on Monday, December 29th. Needham & Company LLC reissued a “buy” rating and set a $34.00 target price on shares of ACADIA Pharmaceuticals in a research report on Monday, January 5th. HC Wainwright raised their target price on ACADIA Pharmaceuticals from $32.00 to $37.00 and gave the company a “buy” rating in a report on Monday, December 15th. Finally, Deutsche Bank Aktiengesellschaft set a $29.00 price target on ACADIA Pharmaceuticals in a research note on Thursday, September 25th.

ACADIA Pharmaceuticals Trading Down 0.5%

ACAD opened at $26.78 on Monday. The stock has a fifty day moving average price of $25.50 and a 200 day moving average price of $23.91. ACADIA Pharmaceuticals has a 1 year low of $13.40 and a 1 year high of $28.35. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 7.12 and a beta of 0.68.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.28. The company had revenue of $278.63 million for the quarter, compared to analyst estimates of $276.52 million. ACADIA Pharmaceuticals had a return on equity of 14.61% and a net margin of 24.94%.The business’s revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.20 EPS. As a group, sell-side analysts forecast that ACADIA Pharmaceuticals will post 0.7 earnings per share for the current fiscal year.

Insider Activity

In other news, Director James M. Daly sold 30,000 shares of the business’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $22.37, for a total value of $671,100.00. Following the completion of the sale, the director directly owned 4,041 shares in the company, valued at approximately $90,397.17. The trade was a 88.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark C. Schneyer sold 10,262 shares of the company’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $23.69, for a total transaction of $243,106.78. Following the sale, the executive vice president directly owned 53,338 shares of the company’s stock, valued at approximately $1,263,577.22. This represents a 16.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 44,346 shares of company stock valued at $1,010,957 over the last 90 days. 26.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in ACAD. Geode Capital Management LLC increased its stake in shares of ACADIA Pharmaceuticals by 2.4% in the second quarter. Geode Capital Management LLC now owns 3,024,097 shares of the biopharmaceutical company’s stock worth $65,238,000 after purchasing an additional 69,584 shares during the period. Dimensional Fund Advisors LP grew its holdings in ACADIA Pharmaceuticals by 16.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,798,134 shares of the biopharmaceutical company’s stock valued at $59,712,000 after buying an additional 402,534 shares during the last quarter. First Trust Advisors LP increased its position in ACADIA Pharmaceuticals by 2.8% in the 2nd quarter. First Trust Advisors LP now owns 2,434,376 shares of the biopharmaceutical company’s stock worth $52,509,000 after buying an additional 65,914 shares during the period. Braidwell LP acquired a new position in shares of ACADIA Pharmaceuticals during the third quarter worth approximately $50,760,000. Finally, Marshall Wace LLP lifted its holdings in shares of ACADIA Pharmaceuticals by 19.8% during the third quarter. Marshall Wace LLP now owns 2,358,881 shares of the biopharmaceutical company’s stock worth $50,339,000 after buying an additional 389,170 shares during the last quarter. 96.71% of the stock is owned by institutional investors and hedge funds.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.