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

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

A number of equities analysts have weighed in on the stock. Raymond James reaffirmed a “market perform” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 10th. Needham & Company LLC restated a “buy” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. 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. Finally, StockNews.com lowered ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th.

ACADIA Pharmaceuticals Stock Up 9.9 %

Shares of NASDAQ:ACAD opened at $18.35 on Thursday. The business has a fifty day simple moving average of $16.64 and a 200-day simple moving average of $16.35. ACADIA Pharmaceuticals has a 52 week low of $14.15 and a 52 week high of $31.82. The company has a market cap of $3.05 billion, a P/E ratio of 23.53 and a beta of 0.40.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.14 by $0.06. The company had revenue of $250.40 million during the quarter, compared to analysts’ expectations of $248.83 million. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The firm’s revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.40) EPS. Sell-side analysts expect that ACADIA Pharmaceuticals will post 0.73 earnings per share for the current fiscal year.

Insider Transactions at ACADIA Pharmaceuticals

In other news, CFO Mark C. Schneyer sold 10,259 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $172,453.79. Following the sale, the chief financial officer now owns 53,302 shares in the company, valued at approximately $896,006.62. This represents a 16.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Brendan Teehan sold 10,329 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $173,630.49. Following the completion of the sale, the chief operating officer now directly owns 62,105 shares of the company’s stock, valued at approximately $1,043,985.05. This represents a 14.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,661 shares of company stock valued at $414,551. 28.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the company. Arizona State Retirement System lifted its holdings in ACADIA Pharmaceuticals by 2.2% in the second quarter. Arizona State Retirement System now owns 29,983 shares of the biopharmaceutical company’s stock worth $487,000 after acquiring an additional 655 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of ACADIA Pharmaceuticals by 5.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 14,770 shares of the biopharmaceutical company’s stock worth $240,000 after purchasing an additional 778 shares during the last quarter. Quest Partners LLC grew its stake in ACADIA Pharmaceuticals by 42.3% during the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after buying an additional 1,047 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in ACADIA Pharmaceuticals by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 1,066 shares during the last quarter. Finally, Park Place Capital Corp acquired a new position in shares of ACADIA Pharmaceuticals during the third quarter valued at $25,000. 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.