ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Receives $25.56 Average Target Price from Brokerages

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has been assigned an average rating of “Moderate Buy” from the seventeen brokerages that are presently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $25.56.

Several research firms have recently commented on ACAD. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Cantor Fitzgerald dropped their price target on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada reduced their price objective on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. UBS Group lowered their target price on ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, HC Wainwright restated a “buy” rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th.

Insider Transactions at ACADIA Pharmaceuticals

In other news, COO Brendan Teehan sold 9,534 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $145,679.52. Following the completion of the transaction, the chief operating officer now owns 52,177 shares in the company, valued at approximately $797,264.56. The trade was a 15.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark C. Schneyer sold 9,733 shares of the business’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 value of $148,720.24. Following the transaction, the chief financial officer now directly owns 43,735 shares in the company, valued at approximately $668,270.80. This represents a 18.20 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,014 shares of company stock valued at $779,494. 28.30% of the stock is currently owned by insiders.

Institutional Trading of ACADIA Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. M&G Plc bought a new stake in shares of ACADIA Pharmaceuticals during the 1st quarter worth approximately $5,622,000. SG Americas Securities LLC increased its stake in ACADIA Pharmaceuticals by 246.7% in the 1st quarter. SG Americas Securities LLC now owns 84,956 shares of the biopharmaceutical company’s stock worth $1,571,000 after buying an additional 60,452 shares during the period. Fred Alger Management LLC lifted its holdings in ACADIA Pharmaceuticals by 19.8% during the 2nd quarter. Fred Alger Management LLC now owns 2,704,439 shares of the biopharmaceutical company’s stock valued at $43,947,000 after buying an additional 446,875 shares in the last quarter. US Bancorp DE boosted its position in ACADIA Pharmaceuticals by 2,084.0% in the 3rd quarter. US Bancorp DE now owns 32,934 shares of the biopharmaceutical company’s stock valued at $507,000 after buying an additional 31,426 shares during the period. Finally, Sei Investments Co. grew its stake in ACADIA Pharmaceuticals by 6.2% in the 1st quarter. Sei Investments Co. now owns 34,752 shares of the biopharmaceutical company’s stock worth $642,000 after acquiring an additional 2,034 shares in the last quarter. Institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Stock Down 1.5 %

Shares of ACADIA Pharmaceuticals stock opened at $16.77 on Wednesday. ACADIA Pharmaceuticals has a twelve month low of $14.15 and a twelve month high of $32.59. The company has a market cap of $2.79 billion, a price-to-earnings ratio of 21.50 and a beta of 0.38. The company’s 50 day moving average is $15.56 and its 200 day moving average is $16.01.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The firm had revenue of $250.40 million for the quarter, compared to the consensus estimate of $248.83 million. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period last year, the business posted ($0.40) EPS. Sell-side analysts expect that ACADIA Pharmaceuticals will post 0.72 EPS for the current fiscal year.

ACADIA Pharmaceuticals Company Profile

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.