ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

ACADIA Pharmaceuticals Inc. (NASDAQ:ACADGet Free Report) has been assigned an average rating of “Moderate Buy” from the sixteen research firms that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $28.94.

A number of equities research analysts have weighed in on ACAD shares. Oppenheimer reaffirmed a “market perform” rating and issued a $19.00 price objective on shares of ACADIA Pharmaceuticals in a report on Monday, May 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $37.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, May 9th. Mizuho decreased their price target on ACADIA Pharmaceuticals from $25.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, May 9th. Royal Bank of Canada decreased their price target on ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Finally, TheStreet raised ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a research note on Tuesday, February 27th.

Get Our Latest Stock Analysis on ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Stock Up 1.1 %

Shares of ACAD stock opened at $15.27 on Wednesday. The stock has a market capitalization of $2.52 billion, a PE ratio of -1,525.47 and a beta of 0.42. ACADIA Pharmaceuticals has a 52-week low of $14.65 and a 52-week high of $33.99. The stock’s 50-day moving average price is $17.19 and its 200 day moving average price is $22.73.

ACADIA Pharmaceuticals (NASDAQ:ACADGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.06. The firm had revenue of $205.83 million for the quarter, compared to analysts’ expectations of $208.31 million. ACADIA Pharmaceuticals had a negative return on equity of 0.41% and a negative net margin of 0.21%. The firm’s revenue for the quarter was up 73.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.27) EPS. Analysts expect that ACADIA Pharmaceuticals will post 0.57 earnings per share for the current fiscal year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, insider James Kihara sold 1,790 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $17.87, for a total value of $31,987.30. Following the transaction, the insider now directly owns 13,100 shares of the company’s stock, valued at $234,097. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider James Kihara sold 1,790 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $17.87, for a total transaction of $31,987.30. Following the completion of the sale, the insider now directly owns 13,100 shares in the company, valued at $234,097. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark C. Schneyer sold 3,503 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total value of $59,340.82. Following the sale, the chief financial officer now owns 32,053 shares of the company’s stock, valued at $542,977.82. The disclosure for this sale can be found here. Insiders have sold 89,116 shares of company stock valued at $1,625,639 over the last three months. 28.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Raymond James & Associates lifted its holdings in ACADIA Pharmaceuticals by 18.1% in the third quarter. Raymond James & Associates now owns 10,614 shares of the biopharmaceutical company’s stock worth $221,000 after acquiring an additional 1,630 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in ACADIA Pharmaceuticals by 8.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,338 shares of the biopharmaceutical company’s stock worth $1,695,000 after acquiring an additional 6,519 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of ACADIA Pharmaceuticals by 229.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 125,091 shares of the biopharmaceutical company’s stock valued at $2,607,000 after buying an additional 87,111 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of ACADIA Pharmaceuticals by 23.7% during the third quarter. Principal Financial Group Inc. now owns 78,140 shares of the biopharmaceutical company’s stock valued at $1,628,000 after buying an additional 14,958 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of ACADIA Pharmaceuticals by 27.4% during the third quarter. Victory Capital Management Inc. now owns 99,565 shares of the biopharmaceutical company’s stock valued at $2,075,000 after buying an additional 21,394 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.

About ACADIA Pharmaceuticals

(Get Free Report

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.

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Analyst Recommendations for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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