ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Receives $24.00 Average Price Target from Analysts

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have earned an average rating of “Moderate Buy” from the seventeen brokerages that are presently covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $24.00.

ACAD has been the topic of a number of recent analyst reports. Morgan Stanley restated an “equal weight” rating and issued a $20.00 target price on shares of ACADIA Pharmaceuticals in a research note on Friday, March 7th. Guggenheim lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their target price for the company from $23.00 to $20.00 in a research note on Friday, January 3rd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They issued a “hold” rating and a $22.00 target price on the stock. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th.

ACADIA Pharmaceuticals Stock Performance

Shares of ACADIA Pharmaceuticals stock opened at $17.18 on Tuesday. The firm has a market cap of $2.87 billion, a PE ratio of 22.03 and a beta of 0.43. The firm’s 50-day simple moving average is $18.38 and its 200-day simple moving average is $17.00. ACADIA Pharmaceuticals has a 1 year low of $14.15 and a 1 year high of $20.68.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 4,919 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total value of $89,673.37. Following the sale, the director now owns 17,595 shares in the company, valued at approximately $320,756.85. This trade represents a 21.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have sold 6,167 shares of company stock worth $114,583. 28.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Several large investors have recently made changes to their positions in ACAD. Vanguard Group Inc. boosted its holdings in shares of ACADIA Pharmaceuticals by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 13,947,640 shares of the biopharmaceutical company’s stock valued at $255,939,000 after acquiring an additional 104,444 shares in the last quarter. State Street Corp boosted its holdings in shares of ACADIA Pharmaceuticals by 3.0% in the third quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company’s stock valued at $91,878,000 after acquiring an additional 173,084 shares in the last quarter. Fred Alger Management LLC boosted its holdings 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 acquiring an additional 481,950 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,875,540 shares of the biopharmaceutical company’s stock valued at $44,234,000 after acquiring an additional 30,826 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of ACADIA Pharmaceuticals by 27.0% in the fourth quarter. First Trust Advisors LP now owns 2,700,125 shares of the biopharmaceutical company’s stock valued at $49,547,000 after acquiring an additional 574,251 shares in the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Company Profile

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.