ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Receives $25.56 Consensus Target Price from Analysts

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have been assigned a consensus rating of “Moderate Buy” from the seventeen brokerages that are covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $25.56.

Several brokerages recently weighed in on ACAD. HC Wainwright reissued a “buy” rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 8th. Needham & Company LLC decreased their target price on shares of ACADIA Pharmaceuticals from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Royal Bank of Canada lowered their target price on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Cantor Fitzgerald reduced their price target on ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Finally, BMO Capital Markets began coverage on ACADIA Pharmaceuticals in a research report on Thursday, June 27th. They issued an “outperform” rating and a $31.00 price objective for the company.

ACADIA Pharmaceuticals Stock Down 3.5 %

ACADIA Pharmaceuticals stock opened at $14.76 on Friday. The firm has a market capitalization of $2.44 billion, a PE ratio of -1,476.00, a P/E/G ratio of 0.49 and a beta of 0.38. ACADIA Pharmaceuticals has a 52 week low of $14.31 and a 52 week high of $32.59. The firm’s 50-day simple moving average is $15.64 and its 200 day simple moving average is $16.18.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.18 by $0.02. ACADIA Pharmaceuticals had a net margin of 3.43% and a return on equity of 6.89%. The business had revenue of $241.96 million for the quarter, compared to analyst estimates of $235.95 million. During the same period in the prior year, the business earned $0.01 earnings per share. The company’s quarterly revenue was up 46.4% on a year-over-year basis. On average, research analysts expect that ACADIA Pharmaceuticals will post 0.52 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Stephen Davis sold 31,747 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $485,094.16. Following the sale, the chief executive officer now directly owns 186,555 shares in the company, valued at approximately $2,850,560.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 9,534 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $145,679.52. Following the transaction, the chief operating officer now owns 52,177 shares in the company, valued at $797,264.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Stephen Davis sold 31,747 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $485,094.16. Following the sale, the chief executive officer now owns 186,555 shares of the company’s stock, valued at $2,850,560.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,014 shares of company stock worth $779,494 over the last quarter. 28.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Park Place Capital Corp acquired a new stake in ACADIA Pharmaceuticals in the third quarter valued at $25,000. Covestor Ltd raised its stake in shares of ACADIA Pharmaceuticals by 70.5% in the 1st quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 840 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of ACADIA Pharmaceuticals during the first quarter worth about $48,000. Stonepine Capital Management LLC acquired a new position in ACADIA Pharmaceuticals in the second quarter worth about $81,000. Finally, Acadian Asset Management LLC bought a new stake in ACADIA Pharmaceuticals in the second quarter valued at about $111,000. 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.