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

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have been assigned a consensus recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the company, MarketBeat reports. Eight research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $24.00.

ACAD has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft began coverage on ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a “hold” rating and a $22.00 target price for the company. HC Wainwright restated a “buy” rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. StockNews.com downgraded shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, Guggenheim cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $23.00 to $20.00 in a report on Friday, January 3rd.

Institutional Trading of ACADIA Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Values First Advisors Inc. bought a new position in shares of ACADIA Pharmaceuticals in the third quarter worth approximately $27,000. Virtus Fund Advisers LLC purchased a new position in ACADIA Pharmaceuticals in the 4th quarter worth approximately $39,000. R Squared Ltd bought a new position in shares of ACADIA Pharmaceuticals in the 4th quarter worth $47,000. GF Fund Management CO. LTD. purchased a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter valued at $64,000. Finally, Quest Partners LLC lifted its holdings in shares of ACADIA Pharmaceuticals by 42.3% during the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after acquiring an additional 1,047 shares during the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD stock opened at $20.37 on Friday. ACADIA Pharmaceuticals has a 52-week low of $14.15 and a 52-week high of $26.56. The company has a 50-day simple moving average of $18.15 and a two-hundred day simple moving average of $16.72. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 26.11 and a beta of 0.37.

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.