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

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have received an average rating of “Moderate Buy” from the seventeen analysts that are currently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $25.25.

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

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD opened at $18.67 on Monday. The stock has a 50 day moving average price of $17.29 and a two-hundred day moving average price of $16.60. ACADIA Pharmaceuticals has a 52 week low of $14.15 and a 52 week high of $27.94. The firm has a market capitalization of $3.11 billion, a P/E ratio of 23.94 and a beta of 0.37.

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

Insider Transactions at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, CFO Mark C. Schneyer sold 10,259 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $172,453.79. Following the completion of the sale, the chief financial officer now owns 53,302 shares in the company, valued at approximately $896,006.62. The trade was a 16.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James Kihara sold 4,073 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $68,467.13. Following the completion of the transaction, the insider now owns 19,863 shares in the company, valued at $333,897.03. This represents a 17.02 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 24,661 shares of company stock worth $414,551. 28.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. American Century Companies Inc. raised its position in shares of ACADIA Pharmaceuticals by 76.7% in the 2nd quarter. American Century Companies Inc. now owns 73,148 shares of the biopharmaceutical company’s stock worth $1,189,000 after acquiring an additional 31,762 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in 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. Dimensional Fund Advisors LP bought a new position in shares of ACADIA Pharmaceuticals in the second quarter worth approximately $10,550,000. Bank of Montreal Can purchased a new stake in shares of ACADIA Pharmaceuticals during the second quarter valued at approximately $1,570,000. Finally, Millennium Management LLC increased its position in shares of ACADIA Pharmaceuticals by 36.2% during the second quarter. Millennium Management LLC now owns 2,937,714 shares of the biopharmaceutical company’s stock valued at $47,738,000 after acquiring an additional 781,070 shares in the last quarter. Institutional investors 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.