ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• ACADIA Pharmaceuticals has a consensus analyst rating of “Moderate Buy”, with 11 buy ratings, 3 holds, and 1 sell across 15 analysts. The average 12-month price target is about $31.63.
• The stock was trading down 2.7% at $21.25, well below the average analyst target and under its 200-day moving average of $23.70. The company’s market cap is $3.64 billion, with a P/E ratio of 9.66.
• ACADIA’s latest quarterly results missed earnings and revenue estimates, reporting EPS of $0.02 versus $0.04 expected and revenue of $268.1 million versus $280.25 million expected. Despite that miss, revenue still rose 9.7% year over year.

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report) have earned a consensus rating of "Moderate Buy" from the fifteen analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $31.6250.

A number of brokerages have issued reports on ACAD. Wolfe Research began coverage on ACADIA Pharmaceuticals in a research note on Monday, February 23rd. They issued an "outperform" rating and a $33.00 price target on the stock. Mizuho raised ACADIA Pharmaceuticals from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $29.00 to $35.00 in a research note on Monday, February 23rd. Citigroup reduced their price objective on ACADIA Pharmaceuticals from $33.00 to $32.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. JPMorgan Chase & Co. lifted their price objective on ACADIA Pharmaceuticals from $31.00 to $34.00 and gave the company an "overweight" rating in a research note on Wednesday, March 4th. Finally, Stifel Nicolaus reduced their price objective on ACADIA Pharmaceuticals from $25.00 to $24.00 and set a "hold" rating on the stock in a research note on Thursday, February 26th.

ACADIA Pharmaceuticals Trading Down 2.7%

Shares of NASDAQ:ACAD opened at $21.25 on Thursday. The stock's 50-day moving average price is $21.80 and its two-hundred day moving average price is $23.70. ACADIA Pharmaceuticals has a 12-month low of $19.69 and a 12-month high of $28.35. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 9.66, a PEG ratio of 27.42 and a beta of 0.83.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.02). ACADIA Pharmaceuticals had a return on equity of 9.61% and a net margin of 34.30%.The business had revenue of $268.10 million during the quarter, compared to analyst estimates of $280.25 million. During the same period in the previous year, the business posted $0.11 earnings per share. The firm's quarterly revenue was up 9.7% on a year-over-year basis. As a group, research analysts forecast that ACADIA Pharmaceuticals will post 0.37 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Mark C. Schneyer sold 3,506 shares of ACADIA Pharmaceuticals stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $21.79, for a total value of $76,395.74. Following the transaction, the executive vice president directly owned 66,145 shares of the company's stock, valued at $1,441,299.55. The trade was a 5.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider James Kihara sold 5,401 shares of ACADIA Pharmaceuticals stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $21.18, for a total value of $114,393.18. Following the completion of the transaction, the insider directly owned 24,509 shares in the company, valued at $519,100.62. This represents a 18.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 13,978 shares of company stock worth $302,819 over the last ninety days. Corporate insiders own 26.20% of the company's stock.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC lifted its stake in shares of ACADIA Pharmaceuticals by 67.5% in the 4th quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 386 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter valued at about $26,000. Transamerica Financial Advisors LLC raised its holdings in shares of ACADIA Pharmaceuticals by 304.5% during the 4th quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company's stock valued at $36,000 after buying an additional 1,005 shares during the period. Federated Hermes Inc. raised its holdings in shares of ACADIA Pharmaceuticals by 277.5% during the 4th quarter. Federated Hermes Inc. now owns 1,612 shares of the biopharmaceutical company's stock valued at $43,000 after buying an additional 1,185 shares during the period. Finally, Smartleaf Asset Management LLC raised its holdings in shares of ACADIA Pharmaceuticals by 107.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company's stock valued at $36,000 after buying an additional 885 shares during the period. 96.71% of the stock is owned by institutional investors and hedge funds.

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.

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