Analysts Set ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Target Price at $28.71

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have earned a consensus rating of “Moderate Buy” from the seventeen research firms that are covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $28.59.

Several equities research analysts have recently commented on the stock. HC Wainwright decreased their target price on shares of ACADIA Pharmaceuticals from $33.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Oppenheimer reissued a “market perform” rating and set a $19.00 price objective on shares of ACADIA Pharmaceuticals in a report on Monday, May 6th. Robert W. Baird dropped their target price on ACADIA Pharmaceuticals from $31.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Morgan Stanley decreased their price target on ACADIA Pharmaceuticals from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Finally, StockNews.com upgraded ACADIA Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 11th.

Insiders Place Their Bets

In other news, COO Brendan Teehan sold 3,477 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total transaction of $58,900.38. Following the completion of the transaction, the chief operating officer now directly owns 42,133 shares of the company’s stock, valued at approximately $713,733.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Brendan Teehan sold 3,477 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total value of $58,900.38. Following the transaction, the chief operating officer now owns 42,133 shares in the company, valued at $713,733.02. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Stephen Davis sold 11,427 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total value of $193,573.38. Following the transaction, the chief executive officer now directly owns 155,231 shares of the company’s stock, valued at $2,629,613.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,708 shares of company stock valued at $348,697. Company insiders own 28.30% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACAD. Norges Bank purchased a new position in shares of ACADIA Pharmaceuticals in the fourth quarter worth about $45,187,000. Eventide Asset Management LLC bought a new position in ACADIA Pharmaceuticals in the 4th quarter worth approximately $25,342,000. M&G Investment Management Ltd. purchased a new position in ACADIA Pharmaceuticals in the 4th quarter valued at approximately $10,349,000. M&G Plc bought a new stake in ACADIA Pharmaceuticals during the 1st quarter valued at $5,622,000. Finally, WCM Investment Management LLC purchased a new stake in shares of ACADIA Pharmaceuticals during the first quarter worth $5,215,000. 96.71% of the stock is currently owned by institutional investors.

ACADIA Pharmaceuticals Stock Performance

Shares of ACADIA Pharmaceuticals stock opened at $18.35 on Thursday. The stock has a market capitalization of $3.03 billion, a PE ratio of -1,833.17 and a beta of 0.38. ACADIA Pharmaceuticals has a 52 week low of $14.55 and a 52 week high of $33.99. The stock has a 50 day moving average price of $15.66 and a two-hundred day moving average price of $20.15.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.06. The business had revenue of $205.83 million during the quarter, compared to the consensus estimate of $208.31 million. ACADIA Pharmaceuticals had a negative net margin of 0.21% and a negative return on equity of 0.41%. ACADIA Pharmaceuticals’s revenue was up 73.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.27) EPS. Research analysts forecast that ACADIA Pharmaceuticals will post 0.58 EPS for the current year.

ACADIA Pharmaceuticals Company Profile

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.