ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Stock Has Average Target Price of $31.34

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have been given a consensus recommendation of “Moderate Buy” by the eighteen ratings firms that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $31.34.

A number of analysts have commented on ACAD shares. Citigroup restated a “buy” rating and set a $33.00 price target (down from $40.00) on shares of ACADIA Pharmaceuticals in a research note on Friday, September 25th. Stifel Nicolaus raised their price objective on shares of ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the company a “hold” rating in a research note on Tuesday, July 21st. William Blair set a $33.00 price objective on shares of ACADIA Pharmaceuticals in a report on Monday, September 28th. BMO Capital Markets reduced their price objective on shares of ACADIA Pharmaceuticals from $36.00 to $34.00 and set an “outperform” rating for the company in a report on Thursday, September 24th. Finally, Weiss Ratings raised shares of ACADIA Pharmaceuticals from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, August 12th.

ACADIA Pharmaceuticals Trading Up 3.2%

Shares of NASDAQ ACAD opened at $20.44 on Wednesday. The firm has a market capitalization of $3.52 billion, a P/E ratio of 9.21 and a beta of 0.88. The firm’s 50-day moving average price is $25.15 and its 200-day moving average price is $24.01. ACADIA Pharmaceuticals has a 1-year low of $18.39 and a 1-year high of $30.96.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.07 by $0.11. ACADIA Pharmaceuticals had a return on equity of 9.03% and a net margin of 33.42%. The company had revenue of $308.00 million during the quarter, compared to the consensus estimate of $296.55 million. During the same period last year, the business posted $0.16 EPS. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. Equities research analysts forecast that ACADIA Pharmaceuticals will post 0.64 EPS for the current year.

Insider Transactions at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Mark Schneyer sold 14,292 shares of ACADIA Pharmaceuticals 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 completion of the transaction, the executive vice president owned 67,828 shares in the company, valued at approximately $1,981,934.16. The trade was a 17.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Elizabeth Thompson sold 16,558 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $26.13, for a total value of $432,660.54. Following the sale, the executive vice president directly owned 18,994 shares of the company’s stock, valued at $496,313.22. This represents a 46.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 36,699 shares of company stock valued at $1,019,894 in the last quarter. Company insiders own 26.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Rice Hall James & Associates LLC bought a new position in ACADIA Pharmaceuticals in the 2nd quarter valued at $15,658,000. State of Wyoming purchased a new stake in shares of ACADIA Pharmaceuticals during the 2nd quarter valued at $1,234,000. Bank of America Corp DE increased its position in shares of ACADIA Pharmaceuticals by 27.2% during the 1st quarter. Bank of America Corp DE now owns 1,553,770 shares of the biopharmaceutical company’s stock valued at $34,587,000 after purchasing an additional 332,325 shares during the last quarter. Virtus Advisers LLC purchased a new stake in shares of ACADIA Pharmaceuticals during the 2nd quarter valued at $1,123,000. Finally, GSA Capital Partners LLP bought a new stake in shares of ACADIA Pharmaceuticals during the 2nd quarter worth $1,783,000. Hedge funds and other institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system and neuropsychiatric disorders. The company’s research programs target conditions with significant unmet medical needs, including neurological and rare neurodevelopmental diseases.

ACADIA’s commercial products include NUPLAZID (pimavanserin), an atypical antipsychotic approved in the United States to treat hallucinations and delusions associated with Parkinson’s disease psychosis.