ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Receives $25.56 Consensus Price Target from Analysts

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have been assigned an average rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $25.56.

A number of brokerages have commented on ACAD. Cantor Fitzgerald dropped their price objective on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley lowered ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $28.00 to $20.00 in a report on Wednesday, August 7th. UBS Group decreased their price target on ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Citigroup dropped their price objective on ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Needham & Company LLC cut their target price on ACADIA Pharmaceuticals from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th.

Insiders Place Their Bets

In other news, 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 value of $145,679.52. Following the completion of the transaction, the chief operating officer now owns 52,177 shares in the company, valued at approximately $797,264.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Stephen Davis sold 31,747 shares of the company’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 in the company, valued at $2,850,560.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Brendan Teehan sold 9,534 shares of the 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 $145,679.52. Following the sale, the chief operating officer now directly owns 52,177 shares in the company, valued at approximately $797,264.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,014 shares of company stock worth $779,494. Corporate insiders own 28.30% of the company’s stock.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Institutional investors have recently modified their holdings of the business. Arizona State Retirement System lifted its holdings in shares of ACADIA Pharmaceuticals by 2.2% during the second quarter. Arizona State Retirement System now owns 29,983 shares of the biopharmaceutical company’s stock worth $487,000 after purchasing an additional 655 shares during the period. Commonwealth Equity Services LLC raised its position in ACADIA Pharmaceuticals by 5.6% in the second quarter. Commonwealth Equity Services LLC now owns 14,770 shares of the biopharmaceutical company’s stock worth $240,000 after acquiring an additional 778 shares during the period. Swiss National Bank lifted its stake in ACADIA Pharmaceuticals by 0.4% in the first quarter. Swiss National Bank now owns 210,604 shares of the biopharmaceutical company’s stock valued at $3,894,000 after purchasing an additional 800 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of ACADIA Pharmaceuticals by 1.6% during the 4th quarter. Franklin Resources Inc. now owns 50,405 shares of the biopharmaceutical company’s stock valued at $1,578,000 after buying an additional 803 shares during the last quarter. Finally, Covestor Ltd increased its stake in shares of ACADIA Pharmaceuticals by 70.5% in the first quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 840 shares in the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Price Performance

ACADIA Pharmaceuticals stock opened at $15.69 on Tuesday. The firm has a 50 day simple moving average of $16.57 and a 200-day simple moving average of $16.58. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of -1,569.00, a price-to-earnings-growth ratio of 0.55 and a beta of 0.40. ACADIA Pharmaceuticals has a 1-year low of $14.55 and a 1-year high of $32.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly 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 net margin of 3.43% and a return on equity of 6.89%. The business had revenue of $241.96 million for the quarter, compared to the consensus estimate of $235.95 million. During the same period in the previous year, the firm earned $0.01 EPS. The business’s revenue was up 46.4% on a year-over-year basis. Equities analysts expect that ACADIA Pharmaceuticals will post 0.52 earnings per share for the current fiscal year.

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.