Analysts Set ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Price Target at $31.16

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has earned a consensus rating of “Moderate Buy” from the twenty ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, twelve have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $31.1579.

A number of brokerages recently commented on ACAD. Wall Street Zen upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Sunday. Citigroup boosted their price target on shares of ACADIA Pharmaceuticals from $33.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. JPMorgan Chase & Co. dropped their price objective on shares of ACADIA Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday, November 17th. UBS Group lifted their target price on shares of ACADIA Pharmaceuticals from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Finally, Mizuho upped their target price on shares of ACADIA Pharmaceuticals from $24.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, December 2nd.

Insider Activity

In other ACADIA Pharmaceuticals news, Director James M. Daly sold 30,000 shares of the 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 transaction, the director directly owned 4,041 shares in the company, valued at $90,397.17. This represents a 88.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider James Kihara sold 4,084 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 value of $96,749.96. Following the transaction, the insider directly owned 25,058 shares of the company’s stock, valued at approximately $593,624.02. The trade was a 14.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 44,346 shares of company stock worth $1,010,957. Company insiders own 26.50% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC bought a new position in shares of ACADIA Pharmaceuticals in the second quarter valued at approximately $511,000. Norges Bank bought a new stake in ACADIA Pharmaceuticals during the 2nd quarter worth approximately $31,679,000. TFG Asset Management GP Ltd increased its holdings in ACADIA Pharmaceuticals by 50.8% during the 2nd quarter. TFG Asset Management GP Ltd now owns 161,396 shares of the biopharmaceutical company’s stock valued at $3,481,000 after purchasing an additional 54,396 shares in the last quarter. First Trust Advisors LP raised its position in ACADIA Pharmaceuticals by 2.8% in the 2nd quarter. First Trust Advisors LP now owns 2,434,376 shares of the biopharmaceutical company’s stock valued at $52,509,000 after purchasing an additional 65,914 shares during the last quarter. Finally, Atria Investments Inc raised its position in ACADIA Pharmaceuticals by 26.1% in the 2nd quarter. Atria Investments Inc now owns 22,087 shares of the biopharmaceutical company’s stock valued at $476,000 after purchasing an additional 4,574 shares during the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Stock Performance

NASDAQ ACAD opened at $26.86 on Monday. ACADIA Pharmaceuticals has a twelve month low of $13.40 and a twelve month high of $28.35. The stock has a market cap of $4.54 billion, a PE ratio of 17.33, a PEG ratio of 7.03 and a beta of 0.68. The firm has a 50-day simple moving average of $25.76 and a 200 day simple moving average of $23.99.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.14 by $0.28. ACADIA Pharmaceuticals had a return on equity of 14.61% and a net margin of 24.94%.The firm had revenue of $278.63 million during the quarter, compared to analysts’ expectations of $276.52 million. During the same quarter in the prior year, the firm posted $0.20 EPS. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. Research analysts forecast that ACADIA Pharmaceuticals will post 0.7 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.