Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Get Free Report) have earned an average recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $31.6250.
A number of research analysts recently issued reports on ACAD shares. Citizens Jmp lifted their price target on ACADIA Pharmaceuticals from $34.00 to $35.00 and gave the company a “market outperform” rating in a report on Thursday, February 26th. Citigroup cut their price target on ACADIA Pharmaceuticals from $33.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Wolfe Research began coverage on ACADIA Pharmaceuticals in a research note on Monday, February 23rd. They set an “outperform” rating and a $33.00 price target on the stock. Weiss Ratings lowered ACADIA Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Finally, TD Cowen upped their price target on ACADIA Pharmaceuticals from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, February 26th.
Check Out Our Latest Analysis on ACAD
ACADIA Pharmaceuticals Stock Up 0.8%
ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). ACADIA Pharmaceuticals had a net margin of 34.30% and a return on equity of 9.61%. The business had revenue of $268.10 million during the quarter, compared to the consensus estimate of $280.25 million. During the same period in the prior year, the firm earned $0.11 earnings per share. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that ACADIA Pharmaceuticals will post 0.37 EPS for the current year.
Insider Buying and Selling at ACADIA Pharmaceuticals
In other news, insider James Kihara sold 5,401 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $21.18, for a total transaction of $114,393.18. Following the transaction, the insider owned 24,509 shares of the company’s stock, valued at $519,100.62. This represents a 18.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark C. Schneyer sold 3,506 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $21.79, for a total value of $76,395.74. Following the transaction, the executive vice president directly owned 66,145 shares in the company, valued at $1,441,299.55. This trade represents a 5.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,978 shares of company stock worth $302,819 in the last ninety days. 26.20% of the stock is currently owned by insiders.
Institutional Investors Weigh In On ACADIA Pharmaceuticals
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp increased its holdings in ACADIA Pharmaceuticals by 9.0% in the fourth quarter. State Street Corp now owns 7,910,733 shares of the biopharmaceutical company’s stock valued at $211,296,000 after purchasing an additional 655,257 shares during the last quarter. First Trust Advisors LP increased its holdings in ACADIA Pharmaceuticals by 47.3% in the first quarter. First Trust Advisors LP now owns 3,343,868 shares of the biopharmaceutical company’s stock valued at $74,435,000 after purchasing an additional 1,073,834 shares during the last quarter. Geode Capital Management LLC increased its holdings in 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 purchasing an additional 106,807 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in ACADIA Pharmaceuticals by 8.0% in 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, Braidwell LP bought a new stake in ACADIA Pharmaceuticals in the third quarter valued at about $50,760,000. Institutional investors own 96.71% of the company’s stock.
About ACADIA Pharmaceuticals
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.
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