ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Receives $25.60 Consensus PT from Analysts

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have earned a consensus rating of “Moderate Buy” from the seventeen research firms that are currently covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $25.25.

A number of analysts have recently weighed in on ACAD shares. HC Wainwright restated a “buy” rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. StockNews.com lowered shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. Needham & Company LLC reiterated a “buy” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Guggenheim lowered ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their target price for the company from $23.00 to $20.00 in a research report on Friday, January 3rd. Finally, Raymond James reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, October 10th.

ACADIA Pharmaceuticals Stock Up 1.2 %

Shares of ACAD stock opened at $17.60 on Thursday. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of 22.56 and a beta of 0.37. ACADIA Pharmaceuticals has a 52-week low of $14.15 and a 52-week high of $31.10. The company’s 50 day moving average is $16.97 and its 200 day moving average is $16.46.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The business had revenue of $250.40 million for the quarter, compared to the consensus estimate of $248.83 million. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The business’s revenue was up 18.3% compared to the same quarter last year. During the same period last year, the business posted ($0.40) EPS. Analysts anticipate that ACADIA Pharmaceuticals will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider James Kihara sold 4,073 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $68,467.13. Following the completion of the transaction, the insider now directly owns 19,863 shares of the company’s stock, valued at $333,897.03. This represents a 17.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Mark C. Schneyer sold 10,259 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $172,453.79. Following the transaction, the chief financial officer now owns 53,302 shares of the company’s stock, valued at $896,006.62. This represents a 16.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,661 shares of company stock valued at $414,551 over the last ninety days. Company insiders own 28.30% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. State Street Corp lifted its holdings in ACADIA Pharmaceuticals by 3.0% in the 3rd quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company’s stock valued at $91,878,000 after purchasing an additional 173,084 shares in the last quarter. Fred Alger Management LLC grew its position in shares of ACADIA Pharmaceuticals by 17.8% in the third quarter. Fred Alger Management LLC now owns 3,186,389 shares of the biopharmaceutical company’s stock valued at $49,007,000 after purchasing an additional 481,950 shares in the last quarter. Millennium Management LLC increased its holdings in shares of ACADIA Pharmaceuticals by 36.2% in the second quarter. Millennium Management LLC now owns 2,937,714 shares of the biopharmaceutical company’s stock valued at $47,738,000 after purchasing an additional 781,070 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its stake in ACADIA Pharmaceuticals by 11.1% during the second quarter. D. E. Shaw & Co. Inc. now owns 2,934,926 shares of the biopharmaceutical company’s stock worth $47,693,000 after buying an additional 292,906 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in ACADIA Pharmaceuticals by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,875,540 shares of the biopharmaceutical company’s stock valued at $44,234,000 after buying an additional 30,826 shares in the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.

About ACADIA Pharmaceuticals

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.