ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Receives Consensus Rating of “Moderate Buy” from Analysts

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has received an average rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $25.60.

Several brokerages recently issued reports on ACAD. Raymond James restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, October 10th. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. HC Wainwright restated a “buy” rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. Finally, StockNews.com cut ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th.

ACADIA Pharmaceuticals Stock Up 9.9 %

Shares of ACADIA Pharmaceuticals stock opened at $18.35 on Thursday. ACADIA Pharmaceuticals has a 52-week low of $14.15 and a 52-week high of $31.82. The firm’s 50 day moving average price is $16.64 and its 200-day moving average price is $16.35. The company has a market cap of $3.05 billion, a P/E ratio of 23.53 and a beta of 0.40.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.14 by $0.06. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The firm had revenue of $250.40 million during the quarter, compared to analyst estimates of $248.83 million. During the same period last year, the firm posted ($0.40) EPS. ACADIA Pharmaceuticals’s revenue was up 18.3% on a year-over-year basis. As a group, equities research analysts forecast that ACADIA Pharmaceuticals will post 0.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Mark C. Schneyer sold 10,259 shares of ACADIA Pharmaceuticals stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $172,453.79. Following the completion of the transaction, the chief financial officer now owns 53,302 shares of the company’s stock, valued at $896,006.62. The trade was a 16.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider James Kihara sold 4,073 shares of the 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,661 shares of company stock worth $414,551. 28.30% of the stock is owned by company insiders.

Institutional Trading of ACADIA Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp raised its holdings in shares of ACADIA Pharmaceuticals by 4.5% in the second quarter. Bank of New York Mellon Corp now owns 525,566 shares of the biopharmaceutical company’s stock worth $8,540,000 after acquiring an additional 22,513 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in ACADIA Pharmaceuticals by 85.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 108,838 shares of the biopharmaceutical company’s stock worth $1,769,000 after purchasing an additional 49,992 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in ACADIA Pharmaceuticals by 5.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 14,770 shares of the biopharmaceutical company’s stock valued at $240,000 after purchasing an additional 778 shares during the last quarter. Natixis Advisors LLC lifted its holdings in ACADIA Pharmaceuticals by 43.2% in the 2nd quarter. Natixis Advisors LLC now owns 25,527 shares of the biopharmaceutical company’s stock valued at $415,000 after purchasing an additional 7,697 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of ACADIA Pharmaceuticals by 1.2% during the 2nd quarter. Rhumbline Advisers now owns 186,500 shares of the biopharmaceutical company’s stock worth $3,031,000 after purchasing an additional 2,121 shares during the last quarter. Hedge funds and other 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.