ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Receives $24.00 Consensus Target Price from Analysts

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has earned an average rating of “Moderate Buy” from the seventeen ratings firms that are covering the stock, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $24.00.

Several research analysts recently issued reports on ACAD shares. HC Wainwright restated a “buy” rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft began coverage on ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They issued a “hold” rating and a $22.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Finally, StockNews.com upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, March 8th.

ACADIA Pharmaceuticals Price Performance

Shares of ACADIA Pharmaceuticals stock opened at $17.18 on Tuesday. ACADIA Pharmaceuticals has a 1 year low of $14.15 and a 1 year high of $20.68. The company has a market capitalization of $2.87 billion, a P/E ratio of 22.03 and a beta of 0.43. The business has a 50 day moving average price of $18.38 and a 200 day moving average price of $17.00.

Insider Buying and Selling

In related news, Director Elizabeth A. Garofalo sold 4,919 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total transaction of $89,673.37. Following the completion of the sale, the director now directly owns 17,595 shares of the company’s stock, valued at approximately $320,756.85. This represents a 21.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 6,167 shares of company stock valued at $114,583. Company insiders own 28.30% of the company’s stock.

Institutional Trading of ACADIA Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its position in ACADIA Pharmaceuticals by 67.8% in the 3rd quarter. Principal Financial Group Inc. now owns 129,551 shares of the biopharmaceutical company’s stock valued at $1,992,000 after buying an additional 52,340 shares during the last quarter. Atria Investments Inc boosted its position in ACADIA Pharmaceuticals by 10.8% in the 3rd quarter. Atria Investments Inc now owns 24,437 shares of the biopharmaceutical company’s stock valued at $376,000 after buying an additional 2,384 shares during the last quarter. Victory Capital Management Inc. boosted its position in ACADIA Pharmaceuticals by 2.9% in the 3rd quarter. Victory Capital Management Inc. now owns 97,130 shares of the biopharmaceutical company’s stock valued at $1,494,000 after buying an additional 2,708 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in ACADIA Pharmaceuticals by 26.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 37,429 shares of the biopharmaceutical company’s stock valued at $576,000 after buying an additional 7,872 shares during the last quarter. Finally, Natixis Advisors LLC boosted its position in ACADIA Pharmaceuticals by 58.6% in the 3rd quarter. Natixis Advisors LLC now owns 40,488 shares of the biopharmaceutical company’s stock valued at $623,000 after buying an additional 14,961 shares during the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

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.