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

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has been given a consensus rating of “Moderate Buy” by the sixteen brokerages that are covering the company, Marketbeat reports. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $23.93.

ACAD has been the subject of several research reports. Needham & Company LLC reissued a “buy” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Tuesday, April 8th. Morgan Stanley reissued an “equal weight” rating and set a $20.00 target price on shares of ACADIA Pharmaceuticals in a report on Friday, March 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Guggenheim lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $23.00 to $20.00 in a research report on Friday, January 3rd. Finally, StockNews.com raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, March 8th.

ACADIA Pharmaceuticals Stock Down 2.8 %

ACADIA Pharmaceuticals stock opened at $14.57 on Friday. The company’s 50-day moving average price is $17.32 and its two-hundred day moving average price is $16.93. The stock has a market cap of $2.43 billion, a P/E ratio of 18.68 and a beta of 0.54. ACADIA Pharmaceuticals has a twelve month low of $13.40 and a twelve month high of $20.68.

Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, Director Elizabeth A. Garofalo sold 4,919 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total value of $89,673.37. Following the completion of the sale, the director now directly owns 17,595 shares in the company, valued at $320,756.85. This represents a 21.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark C. Schneyer sold 3,171 shares of ACADIA Pharmaceuticals stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $17.05, for a total value of $54,065.55. Following the transaction, the executive vice president now directly owns 56,889 shares in the company, valued at $969,957.45. The trade was a 5.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,169 shares of company stock worth $242,686. 28.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of institutional investors have recently modified their holdings of ACAD. Virtus Fund Advisers LLC acquired a new stake in ACADIA Pharmaceuticals during the fourth quarter worth approximately $39,000. R Squared Ltd bought a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth approximately $47,000. GAMMA Investing LLC grew its position in shares of ACADIA Pharmaceuticals by 627.3% during the 1st quarter. GAMMA Investing LLC now owns 3,513 shares of the biopharmaceutical company’s stock worth $58,000 after buying an additional 3,030 shares during the period. GF Fund Management CO. LTD. bought a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $64,000. Finally, KBC Group NV lifted its position in shares of ACADIA Pharmaceuticals by 67.0% during the 4th quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock valued at $93,000 after acquiring an additional 2,044 shares during the period. 96.71% of the stock is owned by institutional investors.

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.