ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Receives $24.21 Consensus Target Price from Brokerages

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have received an average rating of “Moderate Buy” from the eleven brokerages that are covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $24.70.

ACAD has been the subject of a number of analyst reports. Morgan Stanley reissued an “equal weight” rating and issued a $20.00 price target on shares of ACADIA Pharmaceuticals in a research report on Friday, March 7th. HC Wainwright reissued a “buy” rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. UBS Group lowered their price target on ACADIA Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, April 28th. Cantor Fitzgerald reissued an “overweight” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “hold” rating and a $22.00 price target for the company.

ACADIA Pharmaceuticals Stock Performance

ACADIA Pharmaceuticals stock opened at $17.44 on Wednesday. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 22.36 and a beta of 0.47. ACADIA Pharmaceuticals has a 52-week low of $13.40 and a 52-week high of $20.68. The stock’s 50 day moving average price is $15.83 and its two-hundred day moving average price is $16.98.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The company had revenue of $244.32 million for the quarter, compared to analyst estimates of $239.32 million. During the same period in the prior year, the firm earned $0.10 earnings per share. ACADIA Pharmaceuticals’s revenue for the quarter was up 18.7% on a year-over-year basis. On average, equities research analysts forecast that ACADIA Pharmaceuticals will post 0.7 EPS for the current year.

Insider Activity at ACADIA Pharmaceuticals

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC purchased a new position in ACADIA Pharmaceuticals during the 1st quarter valued at $29,000. Picton Mahoney Asset Management purchased a new stake in shares of ACADIA Pharmaceuticals in the 1st quarter worth about $32,000. Federated Hermes Inc. grew its position in shares of ACADIA Pharmaceuticals by 231.5% in the 1st quarter. Federated Hermes Inc. now owns 2,317 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 1,618 shares during the period. Virtus Fund Advisers LLC purchased a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter worth about $39,000. Finally, R Squared Ltd purchased a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter worth about $47,000. 96.71% of the stock is owned by hedge funds and other 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.