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

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have earned an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $24.70.

Several equities research analysts have recently commented on ACAD shares. Deutsche Bank Aktiengesellschaft started coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a “hold” rating and a $22.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. StockNews.com raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Finally, UBS Group reduced their price target on shares of ACADIA Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, April 28th.

ACADIA Pharmaceuticals Price Performance

Shares of ACADIA Pharmaceuticals stock opened at $17.44 on Wednesday. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 22.36 and a beta of 0.47. The firm’s 50-day moving average is $15.83 and its 200 day moving average is $16.98. ACADIA Pharmaceuticals has a 1 year low of $13.40 and a 1 year high of $20.68.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. The business had revenue of $244.32 million for the quarter, compared to analysts’ expectations of $239.32 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The business’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 EPS. On average, equities analysts expect that ACADIA Pharmaceuticals will post 0.7 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Mark C. Schneyer sold 3,498 shares of ACADIA Pharmaceuticals stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $14.60, for a total transaction of $51,070.80. Following the completion of the sale, the executive vice president now directly owns 62,773 shares in the company, valued at approximately $916,485.80. This trade represents a 5.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Elizabeth A. Garofalo sold 4,919 shares of ACADIA Pharmaceuticals stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total value of $89,673.37. Following the sale, the director now owns 17,595 shares of the company’s stock, valued at approximately $320,756.85. This trade represents a 21.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,994 shares of company stock worth $313,131 over the last three months. 26.50% of the stock is owned by insiders.

Institutional Trading of ACADIA Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in ACAD. Exchange Traded Concepts LLC bought a new stake in shares of ACADIA Pharmaceuticals during the first quarter worth $29,000. Picton Mahoney Asset Management bought a new stake in shares of ACADIA Pharmaceuticals during the first quarter worth $32,000. Federated Hermes Inc. raised its holdings in shares of ACADIA Pharmaceuticals by 231.5% in the first quarter. Federated Hermes Inc. now owns 2,317 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 1,618 shares in the last quarter. Virtus Fund Advisers LLC bought a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at about $39,000. Finally, R Squared Ltd bought a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at about $47,000. 96.71% of the stock is currently owned by institutional investors.

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.