ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Stock Now Rated “Moderate Buy” by Wall Street Analysts

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the eighteen research firms that are covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $31.34.

A number of research firms have weighed in on ACAD. Deutsche Bank Aktiengesellschaft cut their target price on shares of ACADIA Pharmaceuticals from $38.00 to $31.00 and set a “buy” rating for the company in a research report on Friday, September 25th. William Blair set a $33.00 target price on shares of ACADIA Pharmaceuticals in a research note on Monday, September 28th. Needham & Company LLC dropped their price target on shares of ACADIA Pharmaceuticals from $41.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, September 25th. TD Cowen reissued a “buy” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, September 24th. Finally, BMO Capital Markets cut their price target on shares of ACADIA Pharmaceuticals from $36.00 to $34.00 and set an “outperform” rating for the company in a research note on Thursday, September 24th.

View Our Latest Stock Report on ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Stock Performance

ACAD opened at $19.12 on Wednesday. The company has a market cap of $3.29 billion, a PE ratio of 8.61 and a beta of 0.88. The stock has a 50-day moving average of $25.53 and a 200-day moving average of $24.04. ACADIA Pharmaceuticals has a 52-week low of $18.39 and a 52-week high of $30.96.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.11. The business had revenue of $308.00 million for the quarter, compared to the consensus estimate of $296.55 million. ACADIA Pharmaceuticals had a return on equity of 9.03% and a net margin of 33.42%. The firm’s revenue was up 16.4% compared to the same quarter last year. During the same period last year, the business earned $0.16 EPS. On average, research analysts predict that ACADIA Pharmaceuticals will post 0.64 earnings per share for the current year.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, EVP Elizabeth Thompson sold 16,558 shares of ACADIA Pharmaceuticals stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $26.13, for a total transaction of $432,660.54. Following the completion of the transaction, the executive vice president directly owned 18,994 shares of the company’s stock, valued at approximately $496,313.22. This trade represents a 46.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Schneyer sold 14,292 shares of the company’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $29.22, for a total transaction of $417,612.24. Following the completion of the sale, the executive vice president directly owned 67,828 shares in the company, valued at approximately $1,981,934.16. The trade was a 17.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 36,699 shares of company stock valued at $1,019,894. Company insiders own 26.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ACAD. Rice Hall James & Associates LLC bought a new position in ACADIA Pharmaceuticals during the 2nd quarter worth approximately $15,658,000. State of Wyoming acquired a new position in ACADIA Pharmaceuticals in the second quarter valued at about $1,234,000. Bank of America Corp DE lifted its stake in ACADIA Pharmaceuticals by 27.2% in the first quarter. Bank of America Corp DE now owns 1,553,770 shares of the biopharmaceutical company’s stock valued at $34,587,000 after buying an additional 332,325 shares in the last quarter. Virtus Advisers LLC bought a new position in ACADIA Pharmaceuticals in the second quarter valued at approximately $1,123,000. Finally, GSA Capital Partners LLP bought a new position in ACADIA Pharmaceuticals in the second quarter valued at approximately $1,783,000. Institutional investors own 96.71% of the company’s stock.

About ACADIA Pharmaceuticals

(Get Free Report)

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system disorders and rare diseases. The company is headquartered in San Diego, California, and serves patients and healthcare providers primarily in the United States.

ACADIA’s commercial products include NUPLAZID (pimavanserin), an atypical antipsychotic approved in the United States for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis.

Further Reading

Analyst Recommendations for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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