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

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has earned a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $32.9412.

A number of equities research analysts recently weighed in on ACAD shares. Canaccord Genuity Group boosted their price target on shares of ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $37.00 target price on shares of ACADIA Pharmaceuticals in a research report on Monday, June 29th. Citigroup boosted their target price on ACADIA Pharmaceuticals from $32.00 to $35.00 and gave the company a “buy” rating in a report on Monday, June 29th. Bank of America upped their target price on ACADIA Pharmaceuticals from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. Finally, Royal Bank Of Canada raised their price target on ACADIA Pharmaceuticals from $29.00 to $36.00 and gave the stock an “outperform” rating in a research note on Tuesday.

ACADIA Pharmaceuticals Stock Down 0.7%

ACAD traded down $0.19 on Monday, reaching $26.22. The company’s stock had a trading volume of 1,442,777 shares, compared to its average volume of 1,725,471. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of 11.92, a P/E/G ratio of 19.02 and a beta of 0.80. ACADIA Pharmaceuticals has a fifty-two week low of $19.69 and a fifty-two week high of $28.35. The stock has a 50 day moving average of $22.57 and a two-hundred day moving average of $23.39.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $280.25 million. During the same period in the previous year, the business posted $0.11 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, analysts anticipate that ACADIA Pharmaceuticals will post 0.37 earnings per share for the current fiscal year.

Insider Activity at ACADIA Pharmaceuticals

In related news, EVP Mark C. Schneyer sold 3,506 shares of the company’s 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 sale, the executive vice president owned 66,145 shares in the company, valued at $1,441,299.55. This represents a 5.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James Kihara sold 5,401 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $21.18, for a total transaction of $114,393.18. Following the transaction, the insider directly owned 24,509 shares in the company, valued at $519,100.62. The trade was a 18.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 10,239 shares of company stock valued at $219,813 over the last three months. Corporate insiders own 26.20% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Braidwell LP acquired a new position in ACADIA Pharmaceuticals in the 3rd quarter valued at about $50,760,000. Norges Bank acquired a new stake in ACADIA Pharmaceuticals during the 4th quarter worth approximately $40,266,000. Millennium Management LLC grew its stake in shares of ACADIA Pharmaceuticals by 2,052.1% in the 3rd quarter. Millennium Management LLC now owns 1,483,235 shares of the biopharmaceutical company’s stock valued at $31,652,000 after purchasing an additional 1,414,315 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of ACADIA Pharmaceuticals by 390.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,648,864 shares of the biopharmaceutical company’s stock valued at $35,187,000 after purchasing an additional 1,312,426 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of ACADIA Pharmaceuticals by 47.3% in the first 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. 96.71% of the stock is 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.