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

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have been given a consensus recommendation of “Moderate Buy” by the twenty brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $31.2105.

A number of brokerages recently commented on ACAD. UBS Group increased their price target on ACADIA Pharmaceuticals from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Royal Bank Of Canada reduced their price objective on ACADIA Pharmaceuticals from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, February 26th. Wolfe Research assumed coverage on ACADIA Pharmaceuticals in a report on Monday, February 23rd. They set an “outperform” rating and a $33.00 price objective on the stock. Wall Street Zen downgraded ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of ACADIA Pharmaceuticals in a report on Monday, December 29th.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ ACAD opened at $20.75 on Friday. The company has a market cap of $3.54 billion, a P/E ratio of 9.06, a P/E/G ratio of 21.35 and a beta of 0.66. ACADIA Pharmaceuticals has a 52-week low of $13.40 and a 52-week high of $28.35. The firm’s fifty day moving average is $23.39 and its two-hundred day moving average is $23.91.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported $1.60 EPS for the quarter, beating the consensus estimate of $0.12 by $1.48. ACADIA Pharmaceuticals had a net margin of 36.49% and a return on equity of 12.49%. The business had revenue of $298.00 million during the quarter, compared to the consensus estimate of $292.54 million. During the same quarter in the prior year, the firm earned $0.86 EPS. The business’s revenue was up 9.4% on a year-over-year basis. As a group, analysts forecast that ACADIA Pharmaceuticals will post 0.7 EPS for the current fiscal year.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, EVP Jennifer J. Rhodes sold 6,950 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, February 9th. The shares were sold at an average price of $23.38, for a total value of $162,491.00. Following the completion of the transaction, the executive vice president directly owned 7,609 shares of the company’s stock, valued at $177,898.42. This trade represents a 47.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 26.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ACAD. Norges Bank purchased a new stake in ACADIA Pharmaceuticals during the second quarter valued at approximately $31,679,000. TFG Asset Management GP Ltd boosted its holdings in shares of ACADIA Pharmaceuticals by 50.8% in the 2nd quarter. TFG Asset Management GP Ltd now owns 161,396 shares of the biopharmaceutical company’s stock worth $3,481,000 after purchasing an additional 54,396 shares during the period. GSA Capital Partners LLP boosted its holdings in shares of ACADIA Pharmaceuticals by 210.1% in the 3rd quarter. GSA Capital Partners LLP now owns 75,902 shares of the biopharmaceutical company’s stock worth $1,620,000 after purchasing an additional 51,428 shares during the period. First Trust Advisors LP increased its position in shares of ACADIA Pharmaceuticals by 2.8% during the 2nd quarter. First Trust Advisors LP now owns 2,434,376 shares of the biopharmaceutical company’s stock valued at $52,509,000 after purchasing an additional 65,914 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in shares of ACADIA Pharmaceuticals by 613.4% during the 3rd quarter. SG Americas Securities LLC now owns 39,680 shares of the biopharmaceutical company’s stock valued at $847,000 after purchasing an additional 34,118 shares during the last quarter. Institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Company Profile

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.