ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have been assigned a consensus recommendation of “Moderate Buy” from the seventeen analysts that are presently covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $25.25.

Several analysts recently commented on the company. Raymond James reiterated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 10th. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Guggenheim lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $23.00 to $20.00 in a research note on Friday. Needham & Company LLC restated a “buy” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Finally, StockNews.com cut ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, insider James Kihara sold 4,073 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $68,467.13. Following the transaction, the insider now owns 19,863 shares in the company, valued at $333,897.03. The trade was a 17.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Brendan Teehan sold 10,329 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $173,630.49. Following the completion of the transaction, the chief operating officer now owns 62,105 shares of the company’s stock, valued at $1,043,985.05. This trade represents a 14.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,661 shares of company stock valued at $414,551 over the last quarter. Corporate insiders own 28.30% of the company’s stock.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp grew its position in shares of ACADIA Pharmaceuticals by 3.0% during the 3rd quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company’s stock valued at $91,878,000 after buying an additional 173,084 shares during the last quarter. Fred Alger Management LLC increased its position in shares of ACADIA Pharmaceuticals by 17.8% in the third quarter. Fred Alger Management LLC now owns 3,186,389 shares of the biopharmaceutical company’s stock worth $49,007,000 after acquiring an additional 481,950 shares in the last quarter. Millennium Management LLC raised its position in ACADIA Pharmaceuticals by 36.2% during the second quarter. Millennium Management LLC now owns 2,937,714 shares of the biopharmaceutical company’s stock valued at $47,738,000 after buying an additional 781,070 shares during the period. D. E. Shaw & Co. Inc. increased its stake in ACADIA Pharmaceuticals by 11.1% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,934,926 shares of the biopharmaceutical company’s stock valued at $47,693,000 after buying an additional 292,906 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of ACADIA Pharmaceuticals by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,875,540 shares of the biopharmaceutical company’s stock worth $44,234,000 after purchasing an additional 30,826 shares in the last quarter. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

ACADIA Pharmaceuticals Trading Down 5.2 %

NASDAQ ACAD opened at $17.46 on Thursday. The firm has a market capitalization of $2.91 billion, a P/E ratio of 22.38 and a beta of 0.37. ACADIA Pharmaceuticals has a 12-month low of $14.15 and a 12-month high of $31.10. The firm’s fifty day simple moving average is $16.86 and its two-hundred day simple moving average is $16.44.

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

ACADIA Pharmaceuticals Company Profile

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.