Analysts Set ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Target Price at $31.00

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has earned a consensus recommendation of “Moderate Buy” from the sixteen research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $31.6250.

Several research firms recently issued reports on ACAD. HC Wainwright restated a “buy” rating and set a $37.00 price target on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 3rd. Mizuho upgraded ACADIA Pharmaceuticals from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $29.00 to $35.00 in a research report on Monday, February 23rd. Citigroup reduced their price target on ACADIA Pharmaceuticals from $33.00 to $32.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Wolfe Research began coverage on ACADIA Pharmaceuticals in a research report on Monday, February 23rd. They set an “outperform” rating and a $33.00 price target on the stock. Finally, Bank of America upgraded ACADIA Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Wednesday, March 25th.

Insider Buying and Selling

In other news, EVP Mark C. Schneyer sold 3,506 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $21.79, for a total value of $76,395.74. Following the sale, the executive vice president directly owned 66,145 shares in the company, valued at approximately $1,441,299.55. This trade represents a 5.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Kihara sold 1,332 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $21.79, for a total value of $29,024.28. Following the completion of the sale, the insider owned 29,129 shares in the company, valued at approximately $634,720.91. This represents a 4.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 8,577 shares of company stock worth $188,426. Corporate insiders own 26.20% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. Bank of America Corp DE boosted its position in shares of ACADIA Pharmaceuticals by 27.2% during the first quarter. Bank of America Corp DE now owns 1,553,770 shares of the biopharmaceutical company’s stock valued at $34,587,000 after purchasing an additional 332,325 shares in the last quarter. Stempoint Capital LP bought a new stake in shares of ACADIA Pharmaceuticals during the first quarter valued at approximately $5,400,000. Amundi boosted its position in shares of ACADIA Pharmaceuticals by 46.6% during the first quarter. Amundi now owns 26,753 shares of the biopharmaceutical company’s stock valued at $596,000 after purchasing an additional 8,508 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of ACADIA Pharmaceuticals by 9.0% during the first quarter. California State Teachers Retirement System now owns 138,244 shares of the biopharmaceutical company’s stock valued at $3,077,000 after purchasing an additional 11,437 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in shares of ACADIA Pharmaceuticals during the first quarter valued at approximately $1,090,000. 96.71% of the stock is currently owned by institutional investors.

ACADIA Pharmaceuticals Trading Down 1.0%

Shares of NASDAQ ACAD opened at $21.10 on Friday. The stock has a market cap of $3.61 billion, a price-to-earnings ratio of 9.59, a P/E/G ratio of 25.54 and a beta of 0.86. ACADIA Pharmaceuticals has a 1-year low of $19.69 and a 1-year high of $28.35. The stock’s 50-day moving average is $21.69 and its 200 day moving average is $23.84.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). ACADIA Pharmaceuticals had a return on equity of 9.61% and a net margin of 34.30%.The company had revenue of $268.10 million for the quarter, compared to the consensus estimate of $280.25 million. During the same quarter in the previous year, the business earned $0.11 earnings per share. ACADIA Pharmaceuticals’s revenue was up 9.7% compared to the same quarter last year. On average, analysts forecast that ACADIA Pharmaceuticals will post 0.39 EPS for the current fiscal 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.