ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Stock Rated “Moderate Buy” by Wall Street Analysts

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have received an average rating of “Moderate Buy” from the eighteen brokerages that are covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $31.55.

Several research analysts recently issued reports on ACAD shares. Oppenheimer reaffirmed a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Wednesday, September 23rd. Wall Street Zen lowered ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, November 4th. Morgan Stanley upped their price target on ACADIA Pharmaceuticals from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 25th. UBS Group cut ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their price target for the company from $49.00 to $23.00 in a research note on Tuesday, October 13th. Finally, Stifel Nicolaus raised their price objective on ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st.

Insider Activity at ACADIA Pharmaceuticals

In related news, EVP Mark Schneyer sold 3,321 shares of the company’s stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $20.88, for a total value of $69,342.48. Following the sale, the executive vice president directly owned 71,322 shares in the company, valued at $1,489,203.36. This represents a 4.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 26.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Rice Hall James & Associates LLC bought a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter worth about $15,658,000. State of Wyoming acquired a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter valued at about $1,234,000. Virtus Advisers LLC bought a new stake in shares of ACADIA Pharmaceuticals during the 2nd quarter valued at about $1,123,000. Bank of America Corp DE boosted its position in shares of ACADIA Pharmaceuticals by 27.2% during the 1st quarter. Bank of America Corp DE now owns 1,553,770 shares of the biopharmaceutical company’s stock valued at $34,587,000 after purchasing an additional 332,325 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in ACADIA Pharmaceuticals during the second quarter worth approximately $1,783,000. Institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Price Performance

ACAD opened at $18.14 on Friday. ACADIA Pharmaceuticals has a fifty-two week low of $15.85 and a fifty-two week high of $30.96. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of 8.60 and a beta of 0.87. The company’s 50 day moving average price is $21.97 and its two-hundred day moving average price is $23.41.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Wednesday, November 4th. The biopharmaceutical company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.11. The firm had revenue of $342.30 million during the quarter, compared to analysts’ expectations of $332.58 million. ACADIA Pharmaceuticals had a net margin of 30.13% and a return on equity of 8.90%. The company’s revenue was up 22.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 EPS. As a group, equities research analysts predict that ACADIA Pharmaceuticals will post 0.76 EPS for the current year.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals is a biopharmaceutical company focused on developing and commercializing medicines for neurological and rare diseases. Founded in 1993 and headquartered in San Diego, California, the company conducts research and development alongside its commercial operations. Its marketed products include NUPLAZID (pimavanserin), approved in the United States to treat hallucinations and delusions associated with Parkinson’s disease psychosis, and DAYBUE (trofinetide), a treatment for Rett syndrome.