ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Receives $25.56 Consensus Price Target from Analysts

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have earned an average recommendation of “Moderate Buy” from the sixteen ratings firms that are currently covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $25.60.

A number of equities analysts have commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Raymond James reaffirmed a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 10th. StockNews.com cut shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $27.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th.

ACADIA Pharmaceuticals Stock Performance

ACAD opened at $17.26 on Friday. ACADIA Pharmaceuticals has a 1-year low of $14.15 and a 1-year high of $32.59. The company has a 50-day moving average of $16.00 and a 200-day moving average of $16.16. The company has a market capitalization of $2.87 billion, a P/E ratio of 22.13 and a beta of 0.40.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.06. The firm had revenue of $250.40 million for the quarter, compared to analysts’ expectations of $248.83 million. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. ACADIA Pharmaceuticals’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.40) earnings per share. As a group, sell-side analysts expect that ACADIA Pharmaceuticals will post 0.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Mark C. Schneyer sold 10,259 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $172,453.79. Following the sale, the chief financial officer now owns 53,302 shares of the company’s stock, valued at $896,006.62. The trade was a 16.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brendan Teehan sold 10,329 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $173,630.49. Following the transaction, the chief operating officer now directly owns 62,105 shares of the company’s stock, valued at approximately $1,043,985.05. The trade was a 14.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,661 shares of company stock valued at $414,551 over the last 90 days. 28.30% of the stock is currently owned by company insiders.

Institutional Trading of ACADIA Pharmaceuticals

Several institutional investors have recently modified their holdings of the company. Arizona State Retirement System raised its position in ACADIA Pharmaceuticals by 2.2% in the second quarter. Arizona State Retirement System now owns 29,983 shares of the biopharmaceutical company’s stock worth $487,000 after acquiring an additional 655 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of ACADIA Pharmaceuticals by 5.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 14,770 shares of the biopharmaceutical company’s stock worth $240,000 after purchasing an additional 778 shares during the last quarter. Quest Partners LLC raised its holdings in shares of ACADIA Pharmaceuticals by 42.3% in the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 1,047 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in ACADIA Pharmaceuticals by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 1,066 shares during the last quarter. Finally, Park Place Capital Corp bought a new stake in ACADIA Pharmaceuticals during the third quarter worth approximately $25,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization innovative medicines that address unmet medical needs in central nervous system (CNS) disorders and rare diseases in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for treatment of Rett Syndrome.