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

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have received a consensus rating of “Moderate Buy” from the fifteen analysts that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $32.13.

ACAD has been the subject of a number of research reports. Morgan Stanley reduced their price objective on ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, March 13th. Robert W. Baird began coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, January 30th. They set an “outperform” rating and a $40.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and set a $33.00 price objective on shares of ACADIA Pharmaceuticals in a report on Wednesday, February 28th. Needham & Company LLC restated a “buy” rating and issued a $32.00 target price on shares of ACADIA Pharmaceuticals in a report on Tuesday, April 9th. Finally, Mizuho downgraded ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their price target for the company from $39.00 to $25.00 in a research note on Tuesday, March 12th.

Insiders Place Their Bets

In related news, insider James Kihara sold 1,790 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $17.87, for a total value of $31,987.30. Following the transaction, the insider now directly owns 13,100 shares of the company’s stock, valued at approximately $234,097. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider James Kihara sold 1,790 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $17.87, for a total value of $31,987.30. Following the sale, the insider now owns 13,100 shares of the company’s stock, valued at approximately $234,097. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen Davis sold 5,577 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $24.67, for a total value of $137,584.59. Following the transaction, the chief executive officer now directly owns 101,890 shares of the company’s stock, valued at $2,513,626.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,383 shares of company stock valued at $1,291,362. Insiders own 27.50% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACAD. Capstone Investment Advisors LLC purchased a new position in ACADIA Pharmaceuticals in the 1st quarter valued at approximately $211,000. Privium Fund Management B.V. bought a new position in shares of ACADIA Pharmaceuticals in the first quarter worth $2,744,000. China Universal Asset Management Co. Ltd. grew its position in shares of ACADIA Pharmaceuticals by 66.7% in the first quarter. China Universal Asset Management Co. Ltd. now owns 31,654 shares of the biopharmaceutical company’s stock valued at $585,000 after purchasing an additional 12,669 shares in the last quarter. WCM Investment Management LLC bought a new stake in shares of ACADIA Pharmaceuticals during the 1st quarter valued at $5,215,000. Finally, Wesbanco Bank Inc. purchased a new stake in ACADIA Pharmaceuticals during the 1st quarter worth about $496,000. 96.71% of the stock is currently owned by institutional investors.

ACADIA Pharmaceuticals Stock Performance

ACADIA Pharmaceuticals stock opened at $17.05 on Friday. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of -43.97 and a beta of 0.37. ACADIA Pharmaceuticals has a 52-week low of $16.16 and a 52-week high of $33.99. The stock’s 50 day moving average price is $19.62 and its two-hundred day moving average price is $23.47.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.04). ACADIA Pharmaceuticals had a negative return on equity of 15.67% and a negative net margin of 8.44%. The company had revenue of $231.04 million for the quarter, compared to the consensus estimate of $223.79 million. During the same period in the prior year, the company earned ($0.26) earnings per share. The firm’s revenue was up 69.3% compared to the same quarter last year. On average, equities research analysts forecast that ACADIA Pharmaceuticals will post 0.62 EPS for the current 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.