Brokerages Set ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Price Target at $29.95

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have been given a consensus rating of “Moderate Buy” by the twenty-one analysts that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, twelve have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $29.95.

A number of research analysts have recently issued reports on the company. Cowen reissued a “buy” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, September 11th. Deutsche Bank Aktiengesellschaft set a $29.00 price target on ACADIA Pharmaceuticals in a research note on Thursday, September 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ACADIA Pharmaceuticals in a research report on Monday. Needham & Company LLC boosted their target price on shares of ACADIA Pharmaceuticals from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Finally, Piper Sandler set a $37.00 target price on shares of ACADIA Pharmaceuticals in a research note on Tuesday, December 16th.

ACADIA Pharmaceuticals Stock Performance

ACADIA Pharmaceuticals stock opened at $27.73 on Thursday. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 8.28 and a beta of 0.67. ACADIA Pharmaceuticals has a 52-week low of $13.40 and a 52-week high of $28.35. The firm has a 50 day moving average price of $24.28 and a two-hundred day moving average price of $23.52.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data 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. ACADIA Pharmaceuticals had a net margin of 24.94% and a return on equity of 14.61%. The company had revenue of $278.63 million during the quarter, compared to analysts’ expectations of $276.52 million. During the same period in the prior year, the company posted $0.20 earnings per share. ACADIA Pharmaceuticals’s revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, equities research analysts predict that ACADIA Pharmaceuticals will post 0.7 EPS for the current fiscal year.

Insider Transactions at ACADIA Pharmaceuticals

In other news, insider James Kihara sold 4,084 shares of the 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 transaction, the insider owned 25,058 shares of the company’s stock, valued at $593,624.02. This represents a 14.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark C. Schneyer sold 10,262 shares of the business’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $23.69, for a total value of $243,106.78. Following the completion of the sale, the executive vice president directly owned 53,338 shares of the company’s stock, valued at $1,263,577.22. The trade was a 16.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 44,346 shares of company stock valued at $1,010,957 in the last 90 days. 26.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of large investors have recently modified their holdings of the company. Maryland State Retirement & Pension System increased its stake in ACADIA Pharmaceuticals by 1.3% during the 2nd quarter. Maryland State Retirement & Pension System now owns 36,397 shares of the biopharmaceutical company’s stock valued at $785,000 after purchasing an additional 476 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of ACADIA Pharmaceuticals by 11.2% during the third quarter. PNC Financial Services Group Inc. now owns 5,323 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 534 shares during the last quarter. Vise Technologies Inc. increased its position in shares of ACADIA Pharmaceuticals by 4.0% during the third quarter. Vise Technologies Inc. now owns 15,367 shares of the biopharmaceutical company’s stock worth $328,000 after acquiring an additional 585 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of ACADIA Pharmaceuticals by 0.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 91,067 shares of the biopharmaceutical company’s stock worth $1,964,000 after acquiring an additional 626 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of ACADIA Pharmaceuticals by 25.8% in the 3rd quarter. GAMMA Investing LLC now owns 3,361 shares of the biopharmaceutical company’s stock worth $72,000 after acquiring an additional 690 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors.

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.