ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Receives $25.25 Average Target Price from Brokerages

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have earned an average rating of “Moderate Buy” from the seventeen ratings firms that are currently covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $25.25.

Several research analysts have weighed in on ACAD shares. Raymond James reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, October 10th. StockNews.com lowered shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. Guggenheim lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $23.00 to $20.00 in a report on Friday, January 3rd. Needham & Company LLC reissued a “buy” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Finally, HC Wainwright reissued a “buy” rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, insider James Kihara sold 4,073 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $68,467.13. Following the sale, the insider now directly owns 19,863 shares in the company, valued at approximately $333,897.03. The trade was a 17.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark C. Schneyer sold 10,259 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $172,453.79. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,661 shares of company stock worth $414,551 in the last ninety days. 28.30% of the stock is owned by insiders.

Institutional Trading of ACADIA Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quest Partners LLC raised its holdings in shares of ACADIA Pharmaceuticals by 42.3% in 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of ACADIA Pharmaceuticals by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 1,066 shares in the last quarter. Park Place Capital Corp bought a new stake in shares of ACADIA Pharmaceuticals in the 3rd quarter worth approximately $25,000. Values First Advisors Inc. bought a new stake in shares of ACADIA Pharmaceuticals in the 3rd quarter worth approximately $27,000. Finally, Envestnet Asset Management Inc. raised its holdings in shares of ACADIA Pharmaceuticals by 1.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 107,543 shares of the biopharmaceutical company’s stock worth $1,748,000 after purchasing an additional 1,964 shares in the last quarter. 96.71% of the stock is currently owned by institutional investors.

ACADIA Pharmaceuticals Trading Down 0.2 %

ACAD opened at $18.37 on Monday. The company has a fifty day simple moving average of $17.40 and a 200 day simple moving average of $16.62. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 23.55 and a beta of 0.37. ACADIA Pharmaceuticals has a twelve month low of $14.15 and a twelve month high of $27.94.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The business had revenue of $250.40 million during the quarter, compared to analyst estimates of $248.83 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The business’s revenue was up 18.3% on a year-over-year basis. During the same period last year, the business earned ($0.40) EPS. On average, analysts forecast that ACADIA Pharmaceuticals will post 0.7 earnings per share for the current fiscal year.

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.