Brokerages Set ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) PT at $35.82

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have earned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $32.13.

Several equities analysts have commented on the company. TheStreet raised ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a report on Tuesday, February 27th. HC Wainwright reiterated a “buy” rating and set a $33.00 price target on shares of ACADIA Pharmaceuticals in a research note on Wednesday, February 28th. JPMorgan Chase & Co. dropped their price objective on shares of ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday, March 25th. Mizuho downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $39.00 to $25.00 in a report on Tuesday, March 12th. Finally, Oppenheimer reissued a “market perform” rating and issued a $25.00 target price on shares of ACADIA Pharmaceuticals in a research note on Monday, February 5th.

ACADIA Pharmaceuticals Trading Up 2.0 %

ACAD opened at $17.05 on Friday. The business has a 50 day moving average of $19.62 and a 200-day moving average of $23.47. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of -43.97 and a beta of 0.37. ACADIA Pharmaceuticals has a 1-year low of $16.16 and a 1-year high of $33.99.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The company had revenue of $231.04 million during the quarter, compared to the consensus estimate of $223.79 million. During the same period last year, the company earned ($0.26) earnings per share. ACADIA Pharmaceuticals’s revenue for the quarter was up 69.3% on a year-over-year basis. Equities analysts predict that ACADIA Pharmaceuticals will post 0.62 EPS for the current year.

Insider Activity at ACADIA Pharmaceuticals

In other news, CEO Stephen Davis sold 26,574 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $17.87, for a total transaction of $474,877.38. Following the transaction, the chief executive officer now directly owns 144,267 shares in the company, valued at $2,578,051.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Stephen Davis sold 26,574 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $17.87, for a total transaction of $474,877.38. Following the transaction, the chief executive officer now owns 144,267 shares of the company’s stock, valued at $2,578,051.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark C. Schneyer sold 5,434 shares of ACADIA Pharmaceuticals stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $17.90, for a total value of $97,268.60. Following the completion of the sale, the chief financial officer now owns 26,183 shares of the company’s stock, valued at $468,675.70. The disclosure for this sale can be found here. Insiders sold 69,383 shares of company stock valued at $1,291,362 over the last ninety days. 27.50% of the stock is owned by insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quest Partners LLC acquired a new stake in ACADIA Pharmaceuticals during the 4th quarter worth $39,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in ACADIA Pharmaceuticals during the 4th quarter worth approximately $100,000. China Universal Asset Management Co. Ltd. raised its holdings in ACADIA Pharmaceuticals by 97.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,202 shares of the biopharmaceutical company’s stock worth $88,000 after buying an additional 2,070 shares during the period. Legato Capital Management LLC bought a new position in ACADIA Pharmaceuticals in the fourth quarter valued at approximately $206,000. Finally, Old Well Partners LLC bought a new position in ACADIA Pharmaceuticals in the fourth quarter valued at approximately $257,000. Institutional investors own 96.71% of the company’s stock.

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.