ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Given Consensus Recommendation of “Moderate Buy” by Brokerages

by · The Markets Daily

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Get Free Report) have earned a consensus rating of “Moderate Buy” from the seventeen research firms that are presently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $27.88.

ACAD has been the subject of several recent analyst reports. UBS Group dropped their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating for the company in a report on Monday, April 28th. Deutsche Bank Aktiengesellschaft raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and raised their price objective for the stock from $20.00 to $35.00 in a report on Wednesday, May 21st. Robert W. Baird raised their price objective on shares of ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, May 19th. HC Wainwright reaffirmed a “buy” rating and set a $32.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, June 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, June 26th.

Read Our Latest Research Report on ACAD

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 2,000 shares of the business’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $25.00, for a total value of $50,000.00. Following the completion of the sale, the executive vice president owned 62,130 shares of the company’s stock, valued at $1,553,250. The trade was a 3.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James Kihara sold 4,000 shares of the business’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $22.50, for a total transaction of $90,000.00. Following the completion of the sale, the insider directly owned 20,395 shares of the company’s stock, valued at $458,887.50. This represents a 16.40% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,007 shares of company stock valued at $580,446. Company insiders own 28.30% of the company’s stock.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the stock. Voya Investment Management LLC increased its position in ACADIA Pharmaceuticals by 70.3% during the 1st quarter. Voya Investment Management LLC now owns 61,585 shares of the biopharmaceutical company’s stock worth $1,023,000 after purchasing an additional 25,418 shares in the last quarter. Rhumbline Advisers grew its holdings in ACADIA Pharmaceuticals by 100.9% during the 1st quarter. Rhumbline Advisers now owns 352,716 shares of the biopharmaceutical company’s stock worth $5,859,000 after acquiring an additional 177,188 shares during the last quarter. Strs Ohio bought a new stake in ACADIA Pharmaceuticals during the 1st quarter worth approximately $796,000. Intech Investment Management LLC grew its holdings in ACADIA Pharmaceuticals by 45.6% during the 1st quarter. Intech Investment Management LLC now owns 75,872 shares of the biopharmaceutical company’s stock worth $1,260,000 after acquiring an additional 23,766 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in ACADIA Pharmaceuticals by 14.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 251,056 shares of the biopharmaceutical company’s stock worth $4,170,000 after acquiring an additional 31,931 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD opened at $21.57 on Thursday. The company has a 50-day simple moving average of $19.74 and a 200-day simple moving average of $18.26. The firm has a market capitalization of $3.61 billion, a P/E ratio of 15.74, a P/E/G ratio of 4.77 and a beta of 0.64. ACADIA Pharmaceuticals has a 52 week low of $13.40 and a 52 week high of $25.23.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. ACADIA Pharmaceuticals had a net margin of 22.97% and a return on equity of 17.46%. The firm had revenue of $244.32 million during the quarter, compared to analyst estimates of $239.32 million. During the same quarter in the prior year, the business posted $0.10 earnings per share. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. As a group, equities analysts forecast that ACADIA Pharmaceuticals will post 0.7 earnings per share for the current year.

ACADIA Pharmaceuticals Company Profile

(Get Free Report

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.

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