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

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have been assigned an average rating of “Moderate Buy” from the seventeen ratings firms that are covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $25.56.

Several analysts have recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. StockNews.com cut ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. Needham & Company LLC restated a “buy” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Finally, Raymond James reiterated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 10th.

Insiders Place Their Bets

In related news, COO Brendan Teehan sold 10,329 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was 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 $1,043,985.05. This represents a 14.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James Kihara sold 4,073 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $68,467.13. Following the completion of the sale, the insider now directly owns 19,863 shares of the company’s stock, valued at $333,897.03. The trade was a 17.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,661 shares of company stock worth $414,551 over the last 90 days. Corporate insiders own 28.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Arizona State Retirement System increased its position in ACADIA Pharmaceuticals by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 29,983 shares of the biopharmaceutical company’s stock valued at $487,000 after acquiring an additional 655 shares during the period. Commonwealth Equity Services LLC lifted its holdings 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 valued at $240,000 after acquiring an additional 778 shares during the period. Quest Partners LLC boosted its holdings in ACADIA Pharmaceuticals by 42.3% during the third 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in ACADIA Pharmaceuticals by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 1,066 shares in the last quarter. Finally, Park Place Capital Corp acquired a new position in ACADIA Pharmaceuticals during the third quarter worth about $25,000. 96.71% of the stock is owned by hedge funds and other institutional investors.

ACADIA Pharmaceuticals Price Performance

NASDAQ:ACAD opened at $18.53 on Friday. The company’s fifty day moving average price is $15.85 and its 200-day moving average price is $16.12. ACADIA Pharmaceuticals has a 1-year low of $14.15 and a 1-year high of $32.59. The firm has a market capitalization of $3.08 billion, a P/E ratio of 23.76 and a beta of 0.40.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.06. The company had revenue of $250.40 million for the quarter, compared to the consensus estimate 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 for the quarter was up 18.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.40) EPS. Equities analysts anticipate that ACADIA Pharmaceuticals will post 0.73 EPS 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.