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

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have earned an average recommendation of “Moderate Buy” from the twenty ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $31.25.

Several research analysts recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $34.00 target price on shares of ACADIA Pharmaceuticals in a research report on Monday, January 5th. HC Wainwright reiterated a “buy” rating and issued a $37.00 price objective on shares of ACADIA Pharmaceuticals in a report on Tuesday. Stifel Nicolaus set a $37.00 price objective on ACADIA Pharmaceuticals in a research report on Tuesday, December 16th. Citigroup boosted their target price on ACADIA Pharmaceuticals from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Finally, Mizuho upped their target price on ACADIA Pharmaceuticals from $24.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 2nd.

ACADIA Pharmaceuticals Trading Down 3.2%

Shares of ACAD opened at $23.46 on Friday. ACADIA Pharmaceuticals has a 12-month low of $13.40 and a 12-month high of $28.35. The company has a market cap of $3.97 billion, a PE ratio of 15.14, a price-to-earnings-growth ratio of 8.51 and a beta of 0.66. The stock has a 50-day moving average price of $26.50 and a 200-day moving average price of $24.45.

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

Insider Activity

In other ACADIA Pharmaceuticals 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 of the company’s stock, valued at $90,397.17. The trade was a 88.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James Kihara sold 4,084 shares of the company’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $23.69, for a total transaction of $96,749.96. Following the sale, the insider owned 25,058 shares of the company’s stock, valued at approximately $593,624.02. The trade was a 14.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 44,346 shares of company stock valued at $1,010,957. Corporate insiders own 26.50% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of ACAD. Farther Finance Advisors LLC boosted its holdings in ACADIA Pharmaceuticals by 67.5% during the 4th quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 386 shares during the period. Geneos Wealth Management Inc. lifted its position in ACADIA Pharmaceuticals by 113.0% in the third quarter. Geneos Wealth Management Inc. now owns 1,425 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 756 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of ACADIA Pharmaceuticals by 107.0% during the third quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 885 shares during the period. USA Financial Formulas bought a new position in shares of ACADIA Pharmaceuticals in the third quarter worth approximately $41,000. Finally, GAMMA Investing LLC increased its stake in shares of ACADIA Pharmaceuticals by 25.8% in the third quarter. GAMMA Investing LLC now owns 3,361 shares of the biopharmaceutical company’s stock worth $72,000 after buying an additional 690 shares during the period. Institutional investors own 96.71% of the company’s stock.

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.