ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have earned an average rating of “Moderate Buy” from the seventeen brokerages that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $28.71.

Several brokerages recently issued reports on ACAD. JPMorgan Chase & Co. cut their target price on ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, March 25th. Robert W. Baird dropped their price target on ACADIA Pharmaceuticals from $31.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Stifel Nicolaus dropped their price target on ACADIA Pharmaceuticals from $26.00 to $21.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. Morgan Stanley dropped their price target on ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating on the stock in a report on Wednesday, March 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $29.00 price target on shares of ACADIA Pharmaceuticals in a report on Tuesday, June 25th.

ACADIA Pharmaceuticals Stock Performance

Shares of ACADIA Pharmaceuticals stock opened at $17.11 on Thursday. ACADIA Pharmaceuticals has a 52 week low of $14.55 and a 52 week high of $33.99. The stock has a 50 day moving average price of $15.56 and a two-hundred day moving average price of $20.62. The stock has a market capitalization of $2.83 billion, a PE ratio of -1,709.29 and a beta of 0.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.06. ACADIA Pharmaceuticals had a negative return on equity of 0.41% and a negative net margin of 0.21%. The firm had revenue of $205.83 million during the quarter, compared to analysts’ expectations of $208.31 million. During the same quarter last year, the firm posted ($0.27) earnings per share. The company’s revenue for the quarter was up 73.8% compared to the same quarter last year. Research analysts forecast that ACADIA Pharmaceuticals will post 0.58 EPS for the current year.

Insider Buying and Selling

In other news, COO Brendan Teehan sold 3,477 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total value of $58,900.38. Following the completion of the transaction, the chief operating officer now directly owns 42,133 shares in the company, valued at approximately $713,733.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Brendan Teehan sold 3,477 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total value of $58,900.38. Following the completion of the sale, the chief operating officer now owns 42,133 shares of the company’s stock, valued at approximately $713,733.02. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Stephen Davis sold 11,427 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total value of $193,573.38. Following the completion of the sale, the chief executive officer now directly owns 155,231 shares of the company’s stock, valued at approximately $2,629,613.14. The disclosure for this sale can be found here. Insiders sold a total of 20,708 shares of company stock worth $348,697 over the last ninety days. 28.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ACAD. Diversified Trust Co raised its position in ACADIA Pharmaceuticals by 9.0% during the 3rd quarter. Diversified Trust Co now owns 29,610 shares of the biopharmaceutical company’s stock valued at $617,000 after purchasing an additional 2,442 shares during the last quarter. First Hawaiian Bank bought a new position in ACADIA Pharmaceuticals during the 4th quarter valued at approximately $284,000. Legato Capital Management LLC bought a new position in ACADIA Pharmaceuticals during the 4th quarter valued at approximately $206,000. JGP Global Gestao de Recursos Ltda. raised its position in ACADIA Pharmaceuticals by 120.8% during the 4th quarter. JGP Global Gestao de Recursos Ltda. now owns 36,110 shares of the biopharmaceutical company’s stock valued at $1,131,000 after purchasing an additional 19,757 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its position in ACADIA Pharmaceuticals by 351.8% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 18,985 shares of the biopharmaceutical company’s stock valued at $594,000 after purchasing an additional 14,783 shares during the last quarter. Institutional investors own 96.71% of the company’s stock.

About ACADIA Pharmaceuticals

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.