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

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have been given a consensus rating of “Moderate Buy” by the eighteen analysts that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $34.3611.

ACAD has been the subject of a number of recent analyst reports. Morgan Stanley upped their price objective on shares of ACADIA Pharmaceuticals from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 25th. Oppenheimer boosted their target price on ACADIA Pharmaceuticals from $23.00 to $25.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 5th. Weiss Ratings raised ACADIA Pharmaceuticals from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 12th. HC Wainwright reaffirmed a “buy” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, August 6th. Finally, Citizens Jmp lifted their price target on ACADIA Pharmaceuticals from $35.00 to $36.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 5th.

ACADIA Pharmaceuticals Stock Performance

ACAD stock opened at $28.91 on Tuesday. The business has a 50-day simple moving average of $26.93 and a two-hundred day simple moving average of $23.72. The company has a market capitalization of $4.98 billion, a P/E ratio of 13.02, a price-to-earnings-growth ratio of 21.71 and a beta of 0.81. ACADIA Pharmaceuticals has a 52-week low of $19.69 and a 52-week high of $30.96.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.11. The company had revenue of $308.00 million for the quarter, compared to analyst estimates of $296.55 million. ACADIA Pharmaceuticals had a return on equity of 9.03% and a net margin of 33.42%.The company’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter last year, the company earned $0.16 earnings per share. As a group, sell-side analysts forecast that ACADIA Pharmaceuticals will post 0.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Elizabeth H.Z. Thompson sold 16,558 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $26.13, for a total value of $432,660.54. Following the transaction, the executive vice president directly owned 18,994 shares of the company’s stock, valued at approximately $496,313.22. The trade was a 46.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark C. Schneyer sold 14,292 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $29.22, for a total transaction of $417,612.24. Following the sale, the executive vice president owned 67,828 shares of the company’s stock, valued at $1,981,934.16. This trade represents a 17.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 36,699 shares of company stock valued at $1,019,894 in the last 90 days. Corporate insiders own 26.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its stake in shares of ACADIA Pharmaceuticals by 74.4% during the 1st quarter. Royal Bank of Canada now owns 80,528 shares of the biopharmaceutical company’s stock worth $1,338,000 after purchasing an additional 34,352 shares during the last quarter. AQR Capital Management LLC lifted its stake in ACADIA Pharmaceuticals by 3.8% in the first quarter. AQR Capital Management LLC now owns 67,672 shares of the biopharmaceutical company’s stock valued at $1,124,000 after purchasing an additional 2,492 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in ACADIA Pharmaceuticals by 7.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 89,952 shares of the biopharmaceutical company’s stock valued at $1,498,000 after purchasing an additional 6,303 shares during the period. Empowered Funds LLC bought a new position in ACADIA Pharmaceuticals during the first quarter valued at $186,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in ACADIA Pharmaceuticals by 14.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 251,056 shares of the biopharmaceutical company’s stock worth $4,170,000 after buying an additional 31,931 shares during the last quarter. 96.71% of the stock is currently owned by hedge funds and other 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.