Brokerages Set ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) PT at $28.94

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have received an average rating of “Moderate Buy” from the sixteen analysts that are covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $28.94.

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, March 25th. TheStreet upgraded ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a research report on Tuesday, February 27th. Citigroup reduced their price target on ACADIA Pharmaceuticals from $30.19 to $30.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, May 9th. Finally, Bank of America cut their price objective on ACADIA Pharmaceuticals from $26.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday, May 10th.

ACADIA Pharmaceuticals Stock Up 0.2 %

ACAD opened at $14.87 on Friday. The business’s 50 day moving average is $15.91 and its two-hundred day moving average is $21.69. ACADIA Pharmaceuticals has a 52 week low of $14.55 and a 52 week high of $33.99. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of -1,485.51 and a beta of 0.41.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.06. The firm had revenue of $205.83 million for the quarter, compared to analyst estimates of $208.31 million. ACADIA Pharmaceuticals had a negative return on equity of 0.41% and a negative net margin of 0.21%. The business’s revenue was up 73.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.27) earnings per share. Equities analysts expect that ACADIA Pharmaceuticals will post 0.58 EPS for the current fiscal year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 17,714 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $17.90, for a total value of $317,080.60. Following the sale, the chief executive officer now owns 118,842 shares in the company, valued at $2,127,271.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Mark C. Schneyer sold 3,503 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total value of $59,340.82. Following the completion of the transaction, the chief financial officer now owns 32,053 shares in the company, valued at approximately $542,977.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Stephen Davis sold 17,714 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $17.90, for a total transaction of $317,080.60. Following the sale, the chief executive officer now owns 118,842 shares in the company, valued at $2,127,271.80. The disclosure for this sale can be found here. Insiders sold 82,644 shares of company stock valued at $1,456,342 in the last ninety days. Company insiders own 28.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ACAD. Perceptive Advisors LLC acquired a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at about $3,162,000. Jump Financial LLC increased its holdings in shares of ACADIA Pharmaceuticals by 326.3% in the fourth quarter. Jump Financial LLC now owns 116,341 shares of the biopharmaceutical company’s stock valued at $3,643,000 after buying an additional 89,053 shares in the last quarter. M&G Investment Management Ltd. purchased a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter valued at $10,349,000. UBS Group AG increased its position in shares of ACADIA Pharmaceuticals by 112.4% in the fourth quarter. UBS Group AG now owns 307,359 shares of the biopharmaceutical company’s stock worth $9,623,000 after acquiring an additional 162,663 shares in the last quarter. Finally, Mutual of America Capital Management LLC purchased a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at approximately $2,206,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

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.