ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have been given an average rating of “Moderate Buy” by the sixteen research firms that are covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $25.56.

ACAD has been the topic of several recent research reports. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 13th. BMO Capital Markets began coverage on ACADIA Pharmaceuticals in a report on Thursday, June 27th. They set an “outperform” rating and a $31.00 target price on the stock. Citigroup reduced their price target on ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Morgan Stanley lowered ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $28.00 to $20.00 in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada cut their price objective on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th.

ACADIA Pharmaceuticals Price Performance

Shares of ACADIA Pharmaceuticals stock opened at $15.38 on Tuesday. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of -1,538.00, a price-to-earnings-growth ratio of 0.55 and a beta of 0.40. The stock’s 50-day moving average is $16.52 and its 200-day moving average is $16.54. ACADIA Pharmaceuticals has a one year low of $14.55 and a one year high of $32.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. ACADIA Pharmaceuticals had a return on equity of 6.89% and a net margin of 3.43%. The firm had revenue of $241.96 million during the quarter, compared to the consensus estimate of $235.95 million. During the same quarter in the prior year, the firm posted $0.01 EPS. The business’s revenue was up 46.4% on a year-over-year basis. On average, equities analysts expect that ACADIA Pharmaceuticals will post 0.52 EPS for the current year.

Insiders Place Their Bets

In other news, COO Brendan Teehan sold 9,534 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $145,679.52. Following the sale, the chief operating officer now directly owns 52,177 shares of the company’s stock, valued at approximately $797,264.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, COO Brendan Teehan sold 9,534 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $145,679.52. Following the completion of the sale, the chief operating officer now owns 52,177 shares of the company’s stock, valued at approximately $797,264.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Stephen Davis sold 31,747 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $485,094.16. Following the transaction, the chief executive officer now owns 186,555 shares of the company’s stock, valued at $2,850,560.40. The disclosure for this sale can be found here. Insiders have sold a total of 51,014 shares of company stock worth $779,494 in the last quarter. Corporate insiders own 28.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ACAD. Principal Financial Group Inc. grew its position in shares of ACADIA Pharmaceuticals by 23.1% in the 4th quarter. Principal Financial Group Inc. now owns 96,214 shares of the biopharmaceutical company’s stock valued at $3,012,000 after buying an additional 18,074 shares during the last quarter. Norges Bank bought a new stake in ACADIA Pharmaceuticals in the fourth quarter valued at approximately $45,187,000. UBS Group AG increased its position in ACADIA Pharmaceuticals by 112.4% during the 4th quarter. UBS Group AG now owns 307,359 shares of the biopharmaceutical company’s stock valued at $9,623,000 after purchasing an additional 162,663 shares during the period. Trexquant Investment LP bought a new position in ACADIA Pharmaceuticals during the 4th quarter worth approximately $1,320,000. Finally, Quest Partners LLC acquired a new position in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $39,000. 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.