Brokerages Set ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Price Target at $34.19

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has been given an average rating of “Moderate Buy” by the eighteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $34.3611.

A number of brokerages have issued reports on ACAD. Needham & Company LLC lifted their price target on ACADIA Pharmaceuticals from $38.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Wall Street Zen raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. BMO Capital Markets boosted their target price on ACADIA Pharmaceuticals from $34.00 to $36.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 21st. UBS Group upped their price target on ACADIA Pharmaceuticals from $45.00 to $49.00 and gave the company a “buy” rating in a report on Monday, August 17th. Finally, Morgan Stanley increased their price target on shares of ACADIA Pharmaceuticals from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Tuesday.

Insiders Place Their Bets

In related news, EVP Mark C. Schneyer sold 14,292 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $29.22, for a total value of $417,612.24. Following the transaction, the executive vice president directly owned 67,828 shares of the company’s stock, valued at $1,981,934.16. This trade represents a 17.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Elizabeth H.Z. Thompson sold 16,558 shares of ACADIA Pharmaceuticals stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $26.13, for a total transaction of $432,660.54. Following the sale, the executive vice president owned 18,994 shares in the company, valued at $496,313.22. This represents a 46.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 36,699 shares of company stock worth $1,019,894 over the last ninety days. Insiders own 26.20% of the company’s stock.

Institutional Trading of ACADIA Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC increased its holdings in shares of ACADIA Pharmaceuticals by 67.5% in the 4th quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 386 shares during the period. Meeder Asset Management Inc. acquired a new position in ACADIA Pharmaceuticals in the fourth quarter valued at $26,000. Transamerica Financial Advisors LLC raised its holdings in shares of ACADIA Pharmaceuticals by 304.5% in the fourth quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 1,005 shares during the last quarter. Nykredit A S acquired a new stake in shares of ACADIA Pharmaceuticals during the second quarter worth about $38,000. Finally, Federated Hermes Inc. boosted its stake in shares of ACADIA Pharmaceuticals by 277.5% during the fourth quarter. Federated Hermes Inc. now owns 1,612 shares of the biopharmaceutical company’s stock worth $43,000 after buying an additional 1,185 shares during the period. 96.71% of the stock is owned by hedge funds and other institutional investors.

ACADIA Pharmaceuticals Stock Down 2.1%

Shares of ACADIA Pharmaceuticals stock opened at $29.11 on Tuesday. ACADIA Pharmaceuticals has a 52-week low of $19.69 and a 52-week high of $30.96. The company has a 50 day moving average of $26.79 and a 200 day moving average of $23.67. The company has a market capitalization of $5.02 billion, a P/E ratio of 13.11, a P/E/G ratio of 21.71 and a beta of 0.81.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.11. The company had revenue of $308.00 million for the quarter, compared to the consensus estimate of $296.55 million. ACADIA Pharmaceuticals had a net margin of 33.42% and a return on equity of 9.03%. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.16 EPS. As a group, research analysts anticipate that ACADIA Pharmaceuticals will post 0.63 earnings per share for the current fiscal year.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.