Brokerages Set ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Price Target at $31.16

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have been given a consensus rating of “Moderate Buy” by the twenty research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $31.1579.

ACAD has been the subject of a number of recent analyst reports. Citigroup upped their price objective on shares of ACADIA Pharmaceuticals from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. JPMorgan Chase & Co. dropped their price target on ACADIA Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday, November 17th. Needham & Company LLC reiterated a “buy” rating and issued a $34.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Monday, January 5th. Mizuho increased their target price on ACADIA Pharmaceuticals from $24.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 2nd. Finally, Wall Street Zen raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Sunday, January 11th.

ACADIA Pharmaceuticals Trading Down 2.0%

NASDAQ:ACAD opened at $25.99 on Monday. ACADIA Pharmaceuticals has a 1-year low of $13.40 and a 1-year high of $28.35. The firm has a market capitalization of $4.40 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 6.91 and a beta of 0.68. The business’s 50-day moving average price is $25.93 and its two-hundred day moving average price is $24.08.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.28. The company had revenue of $278.63 million during the quarter, compared to analyst estimates of $276.52 million. ACADIA Pharmaceuticals had a return on equity of 14.61% and a net margin of 24.94%.The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.20 EPS. Sell-side analysts predict that ACADIA Pharmaceuticals will post 0.7 earnings per share for the current year.

Insider Activity at ACADIA Pharmaceuticals

In related news, insider James Kihara sold 4,084 shares of the company’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $23.69, for a total value of $96,749.96. Following the completion of the transaction, the insider directly owned 25,058 shares of the company’s stock, valued at approximately $593,624.02. This represents a 14.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James M. Daly sold 30,000 shares of ACADIA Pharmaceuticals stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $22.37, for a total value of $671,100.00. Following the completion of the sale, the director directly owned 4,041 shares in the company, valued at $90,397.17. This represents a 88.13% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 44,346 shares of company stock valued at $1,010,957. 26.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several hedge funds have recently made changes to their positions in the business. Geneos Wealth Management Inc. boosted its holdings in ACADIA Pharmaceuticals by 113.0% during the third quarter. Geneos Wealth Management Inc. now owns 1,425 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 756 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of ACADIA Pharmaceuticals by 107.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 885 shares during the last quarter. USA Financial Formulas bought a new position in shares of ACADIA Pharmaceuticals in the 3rd quarter valued at about $41,000. GAMMA Investing LLC increased its position in shares of ACADIA Pharmaceuticals by 25.8% in the third quarter. GAMMA Investing LLC now owns 3,361 shares of the biopharmaceutical company’s stock valued at $72,000 after acquiring an additional 690 shares during the last quarter. Finally, iSAM Funds UK Ltd bought a new stake in ACADIA Pharmaceuticals during the third quarter worth about $93,000. 96.71% of the stock is owned by institutional investors.

About ACADIA Pharmaceuticals

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.