ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Receives $31.05 Average PT from Analysts

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has been given a consensus recommendation of “Moderate Buy” by the twenty brokerages that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, thirteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $31.2105.

Several equities research analysts have recently issued reports on the company. Bank of America reaffirmed a “neutral” rating and issued a $29.00 price target on shares of ACADIA Pharmaceuticals in a research report on Monday. Stifel Nicolaus lowered their target price on ACADIA Pharmaceuticals from $25.00 to $24.00 and set a “hold” rating on the stock in a report on Thursday, February 26th. Wolfe Research assumed coverage on ACADIA Pharmaceuticals in a research report on Monday, February 23rd. They issued an “outperform” rating and a $33.00 price target on the stock. UBS Group upped their price target on ACADIA Pharmaceuticals from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Finally, TD Cowen raised their price objective on shares of ACADIA Pharmaceuticals from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th.

Insider Transactions at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Jennifer J. Rhodes sold 6,950 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $23.38, for a total value of $162,491.00. Following the sale, the executive vice president directly owned 7,609 shares in the company, valued at $177,898.42. This trade represents a 47.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 26.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Several hedge funds have recently made changes to their positions in ACAD. Farther Finance Advisors LLC increased its stake in ACADIA Pharmaceuticals by 67.5% during the fourth quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 386 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter worth approximately $26,000. Geneos Wealth Management Inc. grew its holdings in shares of ACADIA Pharmaceuticals by 113.0% during the 3rd 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 in the last quarter. Smartleaf Asset Management LLC increased its position in shares of ACADIA Pharmaceuticals by 107.0% during the third quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 885 shares during the period. Finally, Transamerica Financial Advisors LLC raised its stake in shares of ACADIA Pharmaceuticals by 304.5% in the fourth quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 1,005 shares in the last quarter. Institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Stock Down 4.2%

NASDAQ:ACAD opened at $22.40 on Tuesday. The company’s 50 day moving average is $25.12 and its 200-day moving average is $24.38. ACADIA Pharmaceuticals has a 12 month low of $13.40 and a 12 month high of $28.35. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of 9.78, a P/E/G ratio of 19.75 and a beta of 0.66.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Thursday, February 26th. The biopharmaceutical company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $1.48. The business had revenue of $298.00 million for the quarter, compared to analyst estimates of $292.54 million. ACADIA Pharmaceuticals had a net margin of 36.49% and a return on equity of 12.49%. ACADIA Pharmaceuticals’s revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business posted $0.86 EPS. Research analysts predict that ACADIA Pharmaceuticals will post 0.7 EPS for the current fiscal year.

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.