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

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has been given a consensus rating of “Moderate Buy” by the sixteen research firms that are presently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $25.60.

A number of brokerages have recently weighed in on ACAD. Raymond James reiterated a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, October 10th. HC Wainwright reiterated a “buy” rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. StockNews.com cut shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th.

ACADIA Pharmaceuticals Stock Performance

ACAD stock opened at $17.26 on Friday. The firm has a 50-day moving average of $16.00 and a two-hundred day moving average of $16.16. The firm has a market capitalization of $2.87 billion, a PE ratio of 22.13 and a beta of 0.40. ACADIA Pharmaceuticals has a one year low of $14.15 and a one year high of $32.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The firm had revenue of $250.40 million during the quarter, compared to analyst estimates of $248.83 million. During the same quarter last year, the business posted ($0.40) EPS. The company’s revenue was up 18.3% on a year-over-year basis. On average, equities research analysts anticipate that ACADIA Pharmaceuticals will post 0.73 earnings per share for the current year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, CFO Mark C. Schneyer sold 10,259 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $172,453.79. Following the completion of the sale, the chief financial officer now directly owns 53,302 shares of the company’s stock, valued at approximately $896,006.62. This represents a 16.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James Kihara sold 4,073 shares of ACADIA Pharmaceuticals stock in a transaction 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 trade represents a 17.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,661 shares of company stock worth $414,551 over the last three months. Corporate insiders own 28.30% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Marshall Wace LLP lifted its position in shares of ACADIA Pharmaceuticals by 431.1% during the 2nd quarter. Marshall Wace LLP now owns 2,774,353 shares of the biopharmaceutical company’s stock worth $45,083,000 after purchasing an additional 2,251,940 shares during the last quarter. Millennium Management LLC lifted its holdings 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 worth $47,738,000 after buying an additional 781,070 shares during the last quarter. Iron Triangle Partners LP bought a new stake in shares of ACADIA Pharmaceuticals in the third quarter valued at approximately $11,535,000. Dimensional Fund Advisors LP acquired a new stake in shares of ACADIA Pharmaceuticals in the second quarter worth $10,550,000. Finally, Eventide Asset Management LLC bought a new position in ACADIA Pharmaceuticals during the third quarter worth $8,882,000. 96.71% of the stock is owned by institutional investors and hedge funds.

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.