Brokerages Set ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) PT at $31.63

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have earned an average recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $31.6250.

A number of research analysts have commented on ACAD shares. JPMorgan Chase & Co. increased their price objective on ACADIA Pharmaceuticals from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Wednesday, March 4th. Citizens Jmp increased their price objective on ACADIA Pharmaceuticals from $34.00 to $35.00 and gave the company a “market outperform” rating in a research report on Thursday, February 26th. Mizuho upgraded ACADIA Pharmaceuticals from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $29.00 to $35.00 in a research report on Monday, February 23rd. Weiss Ratings lowered ACADIA Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Finally, Citigroup decreased their price objective 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.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD opened at $21.60 on Thursday. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 9.82, a PEG ratio of 26.29 and a beta of 0.83. The business’s fifty day moving average price is $21.70 and its two-hundred day moving average price is $23.59. ACADIA Pharmaceuticals has a 52 week low of $19.69 and a 52 week high of $28.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The firm had revenue of $268.10 million during the quarter, compared to the consensus estimate of $280.25 million. ACADIA Pharmaceuticals had a net margin of 34.30% and a return on equity of 9.61%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.11 earnings per share. As a group, research analysts forecast that ACADIA Pharmaceuticals will post 0.37 EPS for the current year.

Insiders Place Their Bets

In other news, insider James Kihara sold 5,401 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $21.18, for a total value of $114,393.18. Following the transaction, the insider owned 24,509 shares of the company’s stock, valued at $519,100.62. This represents a 18.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark C. Schneyer sold 3,506 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $21.79, for a total value of $76,395.74. Following the completion of the transaction, 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 SEC filing for this sale provides additional information. In the last three months, insiders sold 13,978 shares of company stock worth $302,819. 26.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. State Street Corp lifted its stake in shares of ACADIA Pharmaceuticals by 9.0% in the 4th quarter. State Street Corp now owns 7,910,733 shares of the biopharmaceutical company’s stock valued at $211,296,000 after purchasing an additional 655,257 shares during the period. First Trust Advisors LP lifted its stake in shares of ACADIA Pharmaceuticals by 47.3% in the 1st quarter. First Trust Advisors LP now owns 3,343,868 shares of the biopharmaceutical company’s stock valued at $74,435,000 after purchasing an additional 1,073,834 shares during the period. Geode Capital Management LLC lifted its stake in shares of ACADIA Pharmaceuticals by 3.4% in the 4th quarter. Geode Capital Management LLC now owns 3,239,451 shares of the biopharmaceutical company’s stock valued at $86,539,000 after purchasing an additional 106,807 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of ACADIA Pharmaceuticals by 8.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,155,160 shares of the biopharmaceutical company’s stock valued at $70,222,000 after purchasing an additional 234,186 shares during the period. Finally, Braidwell LP acquired a new position in shares of ACADIA Pharmaceuticals in the 3rd quarter valued at $50,760,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

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.