Brokerages Set ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Target Price at $25.60

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have been assigned a consensus rating of “Moderate Buy” from the seventeen ratings firms that are currently covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $25.25.

Several research firms have recently weighed in on ACAD. Raymond James reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, October 10th. StockNews.com cut shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. HC Wainwright reiterated a “buy” rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. Finally, Guggenheim downgraded ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their target price for the company from $23.00 to $20.00 in a research report on Friday.

Insider Activity at ACADIA Pharmaceuticals

In related news, CFO Mark C. Schneyer sold 10,259 shares of ACADIA Pharmaceuticals stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $172,453.79. Following the completion of the sale, the chief financial officer now owns 53,302 shares in the company, valued at $896,006.62. This trade represents a 16.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Brendan Teehan sold 10,329 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $173,630.49. Following the transaction, the chief operating officer now directly owns 62,105 shares in the company, valued at approximately $1,043,985.05. This trade represents a 14.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,661 shares of company stock worth $414,551. Company insiders own 28.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Park Place Capital Corp purchased a new stake in ACADIA Pharmaceuticals in the third quarter valued at about $25,000. Values First Advisors Inc. acquired a new stake in ACADIA Pharmaceuticals in the 3rd quarter worth approximately $27,000. Quest Partners LLC grew its position in ACADIA Pharmaceuticals by 42.3% during the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 1,047 shares during the last quarter. Stonepine Capital Management LLC purchased a new position in shares of ACADIA Pharmaceuticals in the second quarter worth $81,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of ACADIA Pharmaceuticals by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 1,066 shares during the last quarter. Institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Stock Down 1.3 %

Shares of ACAD opened at $18.41 on Thursday. ACADIA Pharmaceuticals has a twelve month low of $14.15 and a twelve month high of $31.10. The company has a market capitalization of $3.06 billion, a P/E ratio of 23.60 and a beta of 0.37. The firm has a 50 day moving average of $16.81 and a 200 day moving average of $16.41.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The business had revenue of $250.40 million during the quarter, compared to analyst estimates of $248.83 million. During the same quarter in the previous year, the firm earned ($0.40) EPS. ACADIA Pharmaceuticals’s revenue was up 18.3% on a year-over-year basis. On average, sell-side analysts expect that ACADIA Pharmaceuticals will post 0.73 EPS for the current 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.