Brokerages Set ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Price Target at $29.12

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has earned an average recommendation of “Moderate Buy” from the twenty analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $29.1176.

Several equities analysts recently issued reports on ACAD shares. JPMorgan Chase & Co. decreased their target price on shares of ACADIA Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Monday, September 29th. Deutsche Bank Aktiengesellschaft set a $29.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, September 25th. Mizuho upped their target price on shares of ACADIA Pharmaceuticals from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Oppenheimer reaffirmed a “market perform” rating and set a $22.00 target price (up previously from $19.00) on shares of ACADIA Pharmaceuticals in a report on Thursday, June 26th. Finally, The Goldman Sachs Group upped their price objective on shares of ACADIA Pharmaceuticals from $15.00 to $17.00 and gave the company a “sell” rating in a report on Thursday, August 7th.

ACADIA Pharmaceuticals Stock Performance

NASDAQ:ACAD opened at $20.06 on Friday. ACADIA Pharmaceuticals has a one year low of $13.40 and a one year high of $26.65. The firm has a market cap of $3.38 billion, a P/E ratio of 15.08, a P/E/G ratio of 7.25 and a beta of 0.75. The firm has a 50-day simple moving average of $23.94 and a 200-day simple moving average of $20.96.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. ACADIA Pharmaceuticals had a net margin of 21.80% and a return on equity of 14.69%. The business had revenue of $264.57 million during the quarter, compared to analysts’ expectations of $263.07 million. During the same period in the previous year, the business posted $0.20 EPS. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, research analysts predict that ACADIA Pharmaceuticals will post 0.7 EPS for the current fiscal year.

Insider Activity

In related news, Director Elizabeth A. Garofalo sold 1,600 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $25.98, for a total value of $41,568.00. Following the sale, the director owned 25,382 shares of the company’s stock, valued at $659,424.36. This trade represents a 5.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark C. Schneyer sold 3,498 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $23.65, for a total transaction of $82,727.70. Following the completion of the sale, the executive vice president directly owned 43,447 shares in the company, valued at approximately $1,027,521.55. This trade represents a 7.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,098 shares of company stock worth $678,256 in the last three months. Corporate insiders own 26.50% of the company’s stock.

Institutional Trading of ACADIA Pharmaceuticals

Several institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. acquired a new position in ACADIA Pharmaceuticals in the first quarter valued at $60,845,000. Marshall Wace LLP grew its position in ACADIA Pharmaceuticals by 496.2% in the 2nd quarter. Marshall Wace LLP now owns 1,969,711 shares of the biopharmaceutical company’s stock valued at $42,487,000 after buying an additional 1,639,315 shares during the last quarter. American Century Companies Inc. grew its position in ACADIA Pharmaceuticals by 1,055.8% in the 1st quarter. American Century Companies Inc. now owns 1,632,749 shares of the biopharmaceutical company’s stock valued at $27,120,000 after buying an additional 1,491,484 shares during the last quarter. Norges Bank purchased a new stake in shares of ACADIA Pharmaceuticals during the 2nd quarter worth $31,679,000. Finally, Nuveen LLC purchased a new stake in shares of ACADIA Pharmaceuticals during the 1st quarter worth $21,630,000. Hedge funds and other institutional investors 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.