ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Stock Has Average Target Price of $31.34

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has been given an average recommendation of “Moderate Buy” by the eighteen analysts that are presently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $31.34.

Several research firms have commented on ACAD. Weiss Ratings upgraded shares of ACADIA Pharmaceuticals from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 12th. Wall Street Zen upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Sunday, October 11th. Canaccord Genuity Group upped their price target on shares of ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the company a “buy” rating in a report on Monday, June 29th. HC Wainwright dropped their price target on ACADIA Pharmaceuticals from $37.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, September 25th. Finally, Morgan Stanley boosted their price target on ACADIA Pharmaceuticals from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 25th.

Insiders Place Their Bets

In related news, EVP Elizabeth Thompson sold 16,558 shares of ACADIA Pharmaceuticals stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $26.13, for a total transaction of $432,660.54. Following the completion of the sale, the executive vice president owned 18,994 shares in the company, valued at approximately $496,313.22. This trade represents a 46.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark Schneyer sold 14,292 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $29.22, for a total transaction of $417,612.24. Following the completion of the transaction, the executive vice president directly owned 67,828 shares of the company’s stock, valued at approximately $1,981,934.16. This represents a 17.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 36,699 shares of company stock worth $1,019,894. Corporate insiders own 26.20% of the company’s stock.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nykredit A S acquired a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter valued at $38,000. Integrated Wealth Concepts LLC acquired a new stake in shares of ACADIA Pharmaceuticals during the 2nd quarter worth $50,000. Global Retirement Partners LLC acquired a new stake in shares of ACADIA Pharmaceuticals during the 2nd quarter worth $64,000. GAMMA Investing LLC raised its position in shares of ACADIA Pharmaceuticals by 15.6% in the 2nd quarter. GAMMA Investing LLC now owns 2,985 shares of the biopharmaceutical company’s stock worth $76,000 after buying an additional 402 shares during the period. Finally, Transamerica Financial Advisors LLC purchased a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter worth $104,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Trading Down 3.0%

Shares of NASDAQ ACAD opened at $19.12 on Wednesday. The stock has a market capitalization of $3.29 billion, a PE ratio of 8.61 and a beta of 0.88. The stock has a fifty day simple moving average of $25.53 and a 200-day simple moving average of $24.02. ACADIA Pharmaceuticals has a twelve month low of $18.39 and a twelve month high of $30.96.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.11. The business had revenue of $308.00 million for the quarter, compared to analysts’ expectations of $296.55 million. ACADIA Pharmaceuticals had a net margin of 33.42% and a return on equity of 9.03%. The business’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 earnings per share. On average, equities analysts predict that ACADIA Pharmaceuticals will post 0.64 earnings per share for the current year.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system disorders and rare diseases. The company is headquartered in San Diego, California, and serves patients and healthcare providers primarily in the United States.

ACADIA’s commercial products include NUPLAZID (pimavanserin), an atypical antipsychotic approved in the United States for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis.