Analysts Set ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Target Price at $32.31

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has earned a consensus rating of “Moderate Buy” from the eighteen brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $32.3056.

Several research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $37.00 target price on shares of ACADIA Pharmaceuticals in a research note on Monday, June 29th. Bank of America reiterated a “buy” rating and issued a $14.50 price objective on shares of ACADIA Pharmaceuticals in a research note on Wednesday, July 29th. BMO Capital Markets boosted 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. Royal Bank Of Canada increased their price objective on shares of ACADIA Pharmaceuticals from $29.00 to $36.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. Finally, Stifel Nicolaus lifted their price target on shares of ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Tuesday, July 21st.

Insiders Place Their Bets

In related news, insider James Kihara sold 5,401 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $21.18, for a total value of $114,393.18. Following the sale, the insider directly owned 24,509 shares of the company’s stock, valued at approximately $519,100.62. This trade represents a 18.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elizabeth H.Z. Thompson sold 16,558 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on 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 in the company, valued at approximately $496,313.22. This trade represents a 46.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 26.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the business. State Street Corp lifted its position in shares of ACADIA Pharmaceuticals by 9.0% in the 4th quarter. State Street Corp now owns 7,910,733 shares of the biopharmaceutical company’s stock worth $211,296,000 after buying an additional 655,257 shares during the last quarter. First Trust Advisors LP raised its stake in shares of ACADIA Pharmaceuticals by 47.3% in the 1st quarter. First Trust Advisors LP now owns 3,343,868 shares of the biopharmaceutical company’s stock worth $74,435,000 after buying an additional 1,073,834 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of ACADIA Pharmaceuticals by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 3,239,451 shares of the biopharmaceutical company’s stock valued at $86,539,000 after buying an additional 106,807 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of ACADIA Pharmaceuticals by 8.0% during 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 last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of ACADIA Pharmaceuticals by 19.8% in the third quarter. Marshall Wace LLP now owns 2,358,881 shares of the biopharmaceutical company’s stock worth $50,339,000 after buying an additional 389,170 shares during the period. 96.71% of the stock is owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Stock Up 6.0%

NASDAQ:ACAD opened at $27.15 on Friday. The company has a fifty day simple moving average of $23.95 and a two-hundred day simple moving average of $23.20. The company has a market cap of $4.65 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 17.76 and a beta of 0.81. ACADIA Pharmaceuticals has a 52 week low of $19.69 and a 52 week high of $28.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.12. The business had revenue of $308.00 million for the quarter, compared to analyst estimates of $295.51 million. ACADIA Pharmaceuticals had a return on equity of 9.61% and a net margin of 34.30%.The company’s revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 earnings per share. On average, analysts expect that ACADIA Pharmaceuticals will post 0.39 EPS for the current year.

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.