Brokerages Set ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) PT at $25.25

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have earned a consensus rating of “Moderate Buy” from the seventeen brokerages that are presently covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $25.25.

A number of brokerages recently commented on ACAD. StockNews.com downgraded ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. Needham & Company LLC reiterated a “buy” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. Guggenheim lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $23.00 to $20.00 in a research note on Friday, January 3rd. Raymond James reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, October 10th. Finally, HC Wainwright restated a “buy” rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th.

Insiders Place Their Bets

In related news, insider James Kihara sold 4,073 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $68,467.13. Following the transaction, the insider now owns 19,863 shares in the company, valued at $333,897.03. This represents a 17.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark C. Schneyer sold 10,259 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $172,453.79. Following the completion of the transaction, the chief financial officer now directly owns 53,302 shares of the company’s stock, valued at approximately $896,006.62. This represents a 16.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,661 shares of company stock worth $414,551 over the last three months. 28.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ACAD. Park Place Capital Corp acquired a new position in ACADIA Pharmaceuticals in the third quarter valued at approximately $25,000. Values First Advisors Inc. acquired a new position in shares of ACADIA Pharmaceuticals in the 3rd quarter valued at $27,000. R Squared Ltd bought a new position in shares of ACADIA Pharmaceuticals in the 4th quarter worth $47,000. Quest Partners LLC grew its stake in shares of ACADIA Pharmaceuticals by 42.3% during the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 1,047 shares during the period. Finally, Stonepine Capital Management LLC bought a new stake in ACADIA Pharmaceuticals in the second quarter valued at about $81,000. Institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Price Performance

NASDAQ ACAD opened at $18.66 on Monday. The business’s 50-day simple moving average is $17.50 and its 200-day simple moving average is $16.62. The firm has a market capitalization of $3.10 billion, a P/E ratio of 23.92 and a beta of 0.37. ACADIA Pharmaceuticals has a 1-year low of $14.15 and a 1-year high of $26.83.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.14 by $0.06. The company had revenue of $250.40 million for the quarter, compared to analyst estimates of $248.83 million. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The firm’s revenue was up 18.3% compared to the same quarter last year. During the same period last year, the company posted ($0.40) earnings per share. On average, equities research analysts expect that ACADIA Pharmaceuticals will post 0.7 EPS for the current fiscal year.

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.