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

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have been given an average recommendation of “Moderate Buy” by the sixteen analysts that are presently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $25.56.

Several equities analysts have issued reports on ACAD shares. Morgan Stanley lowered ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $28.00 to $20.00 in a research note on Wednesday. Royal Bank of Canada reduced their price objective on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday. UBS Group dropped their price objective on ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday. Citigroup decreased their target price on ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Bank of America reduced their price objective on ACADIA Pharmaceuticals from $26.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th.

Institutional Trading of ACADIA Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Edgestream Partners L.P. increased its position in shares of ACADIA Pharmaceuticals by 46.9% during the 2nd quarter. Edgestream Partners L.P. now owns 90,957 shares of the biopharmaceutical company’s stock worth $1,478,000 after purchasing an additional 29,051 shares in the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of ACADIA Pharmaceuticals in the second quarter valued at about $10,550,000. Massachusetts Financial Services Co. MA raised its stake in ACADIA Pharmaceuticals by 3.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 62,530 shares of the biopharmaceutical company’s stock valued at $1,016,000 after purchasing an additional 2,100 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in ACADIA Pharmaceuticals by 1.9% during the second quarter. Envestnet Asset Management Inc. now owns 107,543 shares of the biopharmaceutical company’s stock worth $1,748,000 after acquiring an additional 1,964 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in shares of ACADIA Pharmaceuticals by 10.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 29,557 shares of the biopharmaceutical company’s stock worth $480,000 after purchasing an additional 2,842 shares during the last quarter. 96.71% of the stock is owned by institutional investors.

ACADIA Pharmaceuticals Price Performance

Shares of ACADIA Pharmaceuticals stock opened at $15.63 on Monday. The business has a fifty day simple moving average of $16.64 and a two-hundred day simple moving average of $18.89. ACADIA Pharmaceuticals has a 1 year low of $14.55 and a 1 year high of $32.59. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of -1,563.00 and a beta of 0.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. ACADIA Pharmaceuticals had a negative return on equity of 0.41% and a negative net margin of 0.21%. The firm had revenue of $241.96 million for the quarter, compared to analysts’ expectations of $235.95 million. During the same quarter in the previous year, the business posted $0.01 earnings per share. The business’s revenue for the quarter was up 46.4% on a year-over-year basis. As a group, equities analysts anticipate that ACADIA Pharmaceuticals will post 0.58 earnings per share for the current fiscal year.

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.