Brokerages Set ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Target Price at $28.83

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have been assigned an average recommendation of “Moderate Buy” from the twenty ratings firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $28.8333.

ACAD has been the subject of several research analyst reports. Mizuho upped their price target 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. Cowen restated a “buy” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, September 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ACADIA Pharmaceuticals in a report on Monday. TD Cowen increased their target price on ACADIA Pharmaceuticals from $35.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, September 11th. Finally, Royal Bank Of Canada reduced their price target on ACADIA Pharmaceuticals from $34.00 to $32.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th.

ACADIA Pharmaceuticals Trading Up 2.1%

ACAD stock opened at $24.39 on Friday. The firm has a 50-day moving average price of $22.32 and a 200-day moving average price of $22.71. ACADIA Pharmaceuticals has a 12 month low of $13.40 and a 12 month high of $26.65. The stock has a market capitalization of $4.13 billion, a P/E ratio of 18.34, a price-to-earnings-growth ratio of 7.90 and a beta of 0.80.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.28. The company had revenue of $278.63 million for the quarter, compared to analyst estimates of $276.52 million. ACADIA Pharmaceuticals had a net margin of 21.80% and a return on equity of 14.69%. The firm’s revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 EPS. ACADIA Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, equities analysts predict that ACADIA Pharmaceuticals will post 0.7 EPS for the current fiscal year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, EVP Mark C. Schneyer sold 10,262 shares of ACADIA Pharmaceuticals stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $23.69, for a total transaction of $243,106.78. Following the transaction, the executive vice president owned 53,338 shares in the company, valued at approximately $1,263,577.22. The trade was a 16.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James M. Daly sold 30,000 shares of the business’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $22.37, for a total transaction of $671,100.00. Following the completion of the sale, the director directly owned 4,041 shares in the company, valued at approximately $90,397.17. This represents a 88.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 49,444 shares of company stock valued at $1,135,252 in the last quarter. 26.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ACAD. Geneos Wealth Management Inc. grew its position in shares of ACADIA Pharmaceuticals by 113.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 1,425 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 756 shares during the last quarter. Banque Transatlantique SA bought a new position in shares of ACADIA Pharmaceuticals during the first quarter worth about $31,000. Picton Mahoney Asset Management acquired a new position in shares of ACADIA Pharmaceuticals in the first quarter worth approximately $32,000. Smartleaf Asset Management LLC boosted its holdings in ACADIA Pharmaceuticals by 107.0% in the third quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 885 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in ACADIA Pharmaceuticals by 231.5% in the first quarter. Federated Hermes Inc. now owns 2,317 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 1,618 shares during the last quarter. 96.71% of the stock is owned by institutional investors.

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.