Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have received an average rating of “Hold” from the twenty-one ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $33.71.
A number of equities research analysts recently commented on ACAD shares. Bank of America reaffirmed a “neutral” rating on shares of ACADIA Pharmaceuticals in a research note on Tuesday, March 16th. HC Wainwright reaffirmed a “neutral” rating and set a $18.00 price objective (down from $43.00) on shares of ACADIA Pharmaceuticals in a research note on Tuesday, April 13th. TheStreet cut ACADIA Pharmaceuticals from a “c-” rating to a “d-” rating in a research note on Friday, April 9th. Cantor Fitzgerald lifted their price objective on ACADIA Pharmaceuticals from $33.00 to $45.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 6th. They noted that the move was a valuation call. Finally, Citigroup reaffirmed a “neutral” rating and set a $35.00 price objective (down from $66.00) on shares of ACADIA Pharmaceuticals in a research note on Monday, March 15th.
Shares of ACAD opened at $21.15 on Friday. The company has a market cap of $3.38 billion, a price-to-earnings ratio of -12.30 and a beta of 1.44. ACADIA Pharmaceuticals has a 52-week low of $20.12 and a 52-week high of $58.72. The stock has a fifty day moving average price of $30.42 and a two-hundred day moving average price of $45.35.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Tuesday, February 23rd. The biopharmaceutical company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.05. The company had revenue of $121.01 million during the quarter, compared to the consensus estimate of $122.87 million. ACADIA Pharmaceuticals had a negative return on equity of 40.35% and a negative net margin of 63.92%. On average, sell-side analysts forecast that ACADIA Pharmaceuticals will post -1.84 EPS for the current fiscal year.
In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 14,195 shares of the company’s stock in a transaction that occurred on Thursday, February 4th. The stock was sold at an average price of $50.61, for a total value of $718,408.95. Following the sale, the chief executive officer now owns 43,059 shares in the company, valued at $2,179,215.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Austin D. Kim sold 2,107 shares of the company’s stock in a transaction that occurred on Thursday, February 4th. The shares were sold at an average price of $50.61, for a total value of $106,635.27. Following the completion of the sale, the executive vice president now owns 12,018 shares in the company, valued at approximately $608,230.98. The disclosure for this sale can be found here. Insiders have sold 26,782 shares of company stock worth $1,355,437 in the last quarter. 27.70% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. Baillie Gifford & Co. bought a new stake in ACADIA Pharmaceuticals in the fourth quarter valued at approximately $28,000. Retirement Group LLC bought a new position in shares of ACADIA Pharmaceuticals during the fourth quarter worth approximately $28,000. Capstone Triton Financial Group LLC bought a new position in shares of ACADIA Pharmaceuticals during the fourth quarter worth approximately $30,000. Charter Oak Capital Management LLC bought a new position in shares of ACADIA Pharmaceuticals during the fourth quarter worth approximately $33,000. Finally, Perigon Wealth Management LLC bought a new position in shares of ACADIA Pharmaceuticals during the fourth quarter worth approximately $86,000. Hedge funds and other institutional investors own 93.54% of the company’s stock.
About ACADIA Pharmaceuticals
ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; Trofinetide, a novel synthetic analog for the treatment of Rett syndrome; ACP-044, a novel first-in-class orally administered non-opioid analgesic for treating acute and chronic pain; and ACP-319, a positive allosteric modulator of the muscarinic receptor for treating cognition and schizophrenia.
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