Brokerages Set ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) PT at $32.31

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have been assigned an average recommendation of “Moderate Buy” from the eighteen research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $32.3056.

A number of research firms have recently issued reports on ACAD. Bank of America restated a “buy” rating and issued a $14.50 price target on shares of ACADIA Pharmaceuticals in a research report on Wednesday. BMO Capital Markets lifted their price objective on ACADIA Pharmaceuticals from $34.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Monday, June 29th. HC Wainwright downgraded ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Finally, Stifel Nicolaus raised their target price on ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ ACAD opened at $25.87 on Friday. ACADIA Pharmaceuticals has a 12-month low of $19.69 and a 12-month high of $28.35. The stock has a market cap of $4.43 billion, a PE ratio of 11.76, a P/E/G ratio of 17.94 and a beta of 0.81. The company has a 50-day moving average of $23.74 and a 200 day moving average of $23.20.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released 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). ACADIA Pharmaceuticals had a net margin of 34.30% and a return on equity of 9.61%. The business had revenue of $268.10 million during the quarter, compared to analyst estimates of $280.25 million. During the same quarter in the previous year, the company posted $0.11 EPS. The firm’s revenue was up 9.7% on a year-over-year basis. On average, sell-side analysts forecast that ACADIA Pharmaceuticals will post 0.39 EPS for the current fiscal year.

Insider Transactions at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Elizabeth H.Z. Thompson sold 16,558 shares of ACADIA Pharmaceuticals stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $26.13, for a total transaction of $432,660.54. Following the transaction, the executive vice president directly owned 18,994 shares of the company’s stock, valued at $496,313.22. The trade was a 46.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Kihara sold 5,401 shares of ACADIA Pharmaceuticals stock in a transaction dated 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. This trade represents a 18.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 26.20% of the company’s stock.

Institutional Trading of ACADIA Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp lifted its holdings in ACADIA Pharmaceuticals by 9.0% in the fourth quarter. State Street Corp now owns 7,910,733 shares of the biopharmaceutical company’s stock valued at $211,296,000 after acquiring an additional 655,257 shares during the last quarter. First Trust Advisors LP increased its stake in ACADIA Pharmaceuticals by 47.3% during the first quarter. First Trust Advisors LP now owns 3,343,868 shares of the biopharmaceutical company’s stock worth $74,435,000 after acquiring an additional 1,073,834 shares during the last quarter. Geode Capital Management LLC increased its stake in ACADIA Pharmaceuticals by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 3,239,451 shares of the biopharmaceutical company’s stock worth $86,539,000 after acquiring an additional 106,807 shares during the last quarter. Dimensional Fund Advisors LP raised its position in ACADIA Pharmaceuticals by 8.0% in the first 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, Marshall Wace LLP raised its position in ACADIA Pharmaceuticals by 19.8% in the third quarter. Marshall Wace LLP now owns 2,358,881 shares of the biopharmaceutical company’s stock valued at $50,339,000 after purchasing an additional 389,170 shares during the period. 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.