Brokerages Set ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Price Target at $25.56

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have earned an average rating of “Moderate Buy” from the sixteen ratings firms that are covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $25.56.

Several research analysts recently issued reports on ACAD shares. UBS Group cut their target price on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. StockNews.com raised shares of ACADIA Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 13th. Needham & Company LLC decreased their target price on ACADIA Pharmaceuticals from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. HC Wainwright reiterated a “buy” rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, August 8th. Finally, Cantor Fitzgerald reduced their price objective on ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th.

ACADIA Pharmaceuticals Trading Down 2.0 %

ACAD stock opened at $15.38 on Tuesday. ACADIA Pharmaceuticals has a 1-year low of $14.55 and a 1-year high of $32.59. The stock has a 50-day moving average price of $16.52 and a 200-day moving average price of $16.54. The firm has a market cap of $2.54 billion, a PE ratio of -1,538.00, a price-to-earnings-growth ratio of 0.55 and a beta of 0.40.

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

Insider Transactions at ACADIA Pharmaceuticals

In other news, CEO Stephen Davis sold 31,747 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $485,094.16. Following the completion of the transaction, the chief executive officer now directly owns 186,555 shares of the company’s stock, valued at $2,850,560.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Stephen Davis sold 31,747 shares of the business’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 transaction, the chief executive officer now directly owns 186,555 shares of the company’s stock, valued at approximately $2,850,560.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Brendan Teehan sold 9,534 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 $145,679.52. Following the sale, the chief operating officer now owns 52,177 shares of the company’s stock, valued at approximately $797,264.56. The disclosure for this sale can be found here. Insiders sold a total of 51,014 shares of company stock worth $779,494 in the last quarter. 28.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several institutional investors have recently bought and sold shares of the company. Arizona State Retirement System lifted its holdings in ACADIA Pharmaceuticals by 2.2% during the second quarter. Arizona State Retirement System now owns 29,983 shares of the biopharmaceutical company’s stock valued at $487,000 after purchasing an additional 655 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of ACADIA Pharmaceuticals by 5.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 14,770 shares of the biopharmaceutical company’s stock valued at $240,000 after buying an additional 778 shares in the last quarter. Swiss National Bank boosted its holdings in ACADIA Pharmaceuticals by 0.4% in the 1st quarter. Swiss National Bank now owns 210,604 shares of the biopharmaceutical company’s stock worth $3,894,000 after buying an additional 800 shares during the period. Franklin Resources Inc. boosted its holdings in ACADIA Pharmaceuticals by 1.6% in the 4th quarter. Franklin Resources Inc. now owns 50,405 shares of the biopharmaceutical company’s stock worth $1,578,000 after buying an additional 803 shares during the period. Finally, Covestor Ltd grew its stake in 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 buying an additional 840 shares in the last quarter. Hedge funds and other 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.