Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Get Free Report) have been assigned an average rating of “Moderate Buy” from the sixteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $31.6250.
A number of equities research analysts have issued reports on ACAD shares. Citizens Jmp increased their price target on ACADIA Pharmaceuticals from $34.00 to $35.00 and gave the company a “market outperform” rating in a research report on Thursday, February 26th. Oppenheimer reiterated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research note on Friday, February 6th. Royal Bank Of Canada cut their price target on shares of ACADIA Pharmaceuticals from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, February 26th. Citigroup cut their price target on shares of ACADIA Pharmaceuticals from $33.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $37.00 price target on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 3rd.
Get Our Latest Report on ACADIA Pharmaceuticals
ACADIA Pharmaceuticals Stock Performance
ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) last posted its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). ACADIA Pharmaceuticals had a return on equity of 9.61% and a net margin of 34.30%.The firm had revenue of $268.10 million for the quarter, compared to analyst estimates of $280.25 million. During the same period in the previous year, the company posted $0.11 EPS. ACADIA Pharmaceuticals’s revenue was up 9.7% on a year-over-year basis. As a group, research analysts predict that ACADIA Pharmaceuticals will post 0.39 EPS for the current fiscal year.
Insider Activity
In other news, insider James Kihara sold 1,332 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, May 4th. The stock was sold at an average price of $21.79, for a total transaction of $29,024.28. Following the completion of the transaction, the insider owned 29,129 shares of the company’s stock, valued at $634,720.91. The trade was a 4.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Mark C. Schneyer sold 3,506 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was 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 of the company’s stock, valued at $1,441,299.55. The trade was a 5.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 8,577 shares of company stock worth $188,426 over the last 90 days. 26.20% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On ACADIA Pharmaceuticals
Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE lifted its position in ACADIA Pharmaceuticals by 27.2% during the first quarter. Bank of America Corp DE now owns 1,553,770 shares of the biopharmaceutical company’s stock worth $34,587,000 after buying an additional 332,325 shares during the period. Stempoint Capital LP purchased a new position in ACADIA Pharmaceuticals during the first quarter worth approximately $5,400,000. Amundi raised its stake in ACADIA Pharmaceuticals by 46.6% during the first quarter. Amundi now owns 26,753 shares of the biopharmaceutical company’s stock worth $596,000 after purchasing an additional 8,508 shares during the period. California State Teachers Retirement System raised its stake in ACADIA Pharmaceuticals by 9.0% during the first quarter. California State Teachers Retirement System now owns 138,244 shares of the biopharmaceutical company’s stock worth $3,077,000 after purchasing an additional 11,437 shares during the period. Finally, Empowered Funds LLC purchased a new position in ACADIA Pharmaceuticals during the first quarter worth approximately $1,090,000. Hedge funds and other 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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