ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Receives $31.21 Average Target Price from Analysts

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has earned a consensus rating of “Moderate Buy” from the twenty ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, fourteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $31.2105.

A number of analysts have recently commented on the company. Bank of America upgraded ACADIA Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Wednesday, March 25th. Weiss Ratings restated a “hold (c+)” rating on shares of ACADIA Pharmaceuticals in a research note on Monday, December 29th. Citigroup raised their price objective on ACADIA Pharmaceuticals from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Stifel Nicolaus decreased their target price on ACADIA Pharmaceuticals from $25.00 to $24.00 and set a “hold” rating for the company in a report on Thursday, February 26th. Finally, UBS Group raised their price target on shares of ACADIA Pharmaceuticals from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, January 6th.

Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, EVP Jennifer J. Rhodes sold 6,950 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, February 9th. The shares were sold at an average price of $23.38, for a total transaction of $162,491.00. Following the transaction, the executive vice president owned 7,609 shares in the company, valued at approximately $177,898.42. The trade was a 47.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 28.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ACAD. State Street Corp grew its stake in shares of ACADIA Pharmaceuticals by 9.0% in the fourth quarter. State Street Corp now owns 7,910,733 shares of the biopharmaceutical company’s stock valued at $211,296,000 after buying an additional 655,257 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of ACADIA Pharmaceuticals by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 3,239,451 shares of the biopharmaceutical company’s stock valued at $86,539,000 after buying an additional 106,807 shares during the period. Dimensional Fund Advisors LP lifted its position in ACADIA Pharmaceuticals by 4.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,920,974 shares of the biopharmaceutical company’s stock worth $78,019,000 after acquiring an additional 122,840 shares in the last quarter. First Trust Advisors LP boosted its holdings in ACADIA Pharmaceuticals by 2.8% in the 2nd quarter. First Trust Advisors LP now owns 2,434,376 shares of the biopharmaceutical company’s stock worth $52,509,000 after acquiring an additional 65,914 shares during the period. Finally, Braidwell LP acquired a new stake in ACADIA Pharmaceuticals in the third quarter valued at approximately $50,760,000. 96.71% of the stock is owned by hedge funds and other institutional investors.

ACADIA Pharmaceuticals Price Performance

ACAD opened at $21.07 on Friday. ACADIA Pharmaceuticals has a 12 month low of $13.40 and a 12 month high of $28.35. The business has a 50-day moving average of $23.29 and a two-hundred day moving average of $23.89. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 9.20, a price-to-earnings-growth ratio of 20.63 and a beta of 0.66.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Thursday, February 26th. The biopharmaceutical company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $1.48. ACADIA Pharmaceuticals had a net margin of 36.49% and a return on equity of 12.49%. The business had revenue of $298.00 million for the quarter, compared to analysts’ expectations of $292.54 million. During the same period last year, the company earned $0.86 earnings per share. The company’s quarterly revenue was up 9.4% on a year-over-year basis. Equities research analysts anticipate that ACADIA Pharmaceuticals will post 0.7 earnings per share for the current year.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.