Brokerages Set ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Target Price at $24.00

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has received a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are currently covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $23.93.

A number of analysts recently issued reports on the company. HC Wainwright restated a “buy” rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Morgan Stanley restated an “equal weight” rating and set a $20.00 target price on shares of ACADIA Pharmaceuticals in a research note on Friday, March 7th. Guggenheim downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their price target for the stock from $23.00 to $20.00 in a report on Friday, January 3rd. StockNews.com raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 4,919 shares of ACADIA Pharmaceuticals stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total value of $89,673.37. Following the completion of the transaction, the director now directly owns 17,595 shares of the company’s stock, valued at $320,756.85. The trade was a 21.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 6,167 shares of company stock worth $114,583. 28.30% of the stock is currently owned by company insiders.

Institutional Trading of ACADIA Pharmaceuticals

A number of large investors have recently modified their holdings of ACAD. SG Americas Securities LLC lifted its position in shares of ACADIA Pharmaceuticals by 380.3% during the 4th quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company’s stock worth $45,576,000 after purchasing an additional 1,966,607 shares during the last quarter. Barclays PLC lifted its holdings in ACADIA Pharmaceuticals by 126.2% during the 3rd quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company’s stock worth $4,269,000 after buying an additional 154,854 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of ACADIA Pharmaceuticals during the 3rd quarter worth about $483,000. Burney Co. purchased a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at about $6,953,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter worth about $272,000. Hedge funds and other institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Trading Up 2.6 %

Shares of ACADIA Pharmaceuticals stock opened at $17.23 on Tuesday. ACADIA Pharmaceuticals has a 12 month low of $14.15 and a 12 month high of $20.68. The firm has a market cap of $2.87 billion, a PE ratio of 22.09 and a beta of 0.43. The stock has a 50 day moving average of $18.36 and a 200 day moving average of $17.02.

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.