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

Key Points

• Analyst sentiment is positive: ACADIA Pharmaceuticals has an average rating of "Moderate Buy" from 17 analysts, with 12 buy ratings and an average 12-month price target of about $32.59.
• Recent broker updates were mixed but mostly favorable: Bank of America, Deutsche Bank, Citigroup, and Canaccord Genuity all reiterated or raised bullish targets, while HC Wainwright downgraded the stock from buy to neutral.
• Latest earnings missed estimates: The company reported $0.02 EPS versus the expected $0.04 and revenue of $268.1 million, slightly below consensus, though revenue still rose 9.7% year over year.

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report) has earned an average recommendation of "Moderate Buy" from the seventeen ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $32.5882.

A number of brokerages recently issued reports on ACAD. Bank of America increased their target price on ACADIA Pharmaceuticals from $29.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $37.00 price target on shares of ACADIA Pharmaceuticals in a research note on Monday, June 29th. HC Wainwright downgraded shares of ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating in a report on Tuesday, June 30th. Citigroup raised their price objective on shares of ACADIA Pharmaceuticals from $32.00 to $35.00 and gave the company a "buy" rating in a research note on Monday, June 29th. Finally, Canaccord Genuity Group boosted their target price on shares of ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the stock a "buy" rating in a research report on Monday, June 29th.

Insider Activity

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

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC boosted its holdings in ACADIA Pharmaceuticals by 67.5% during the 4th quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company's stock worth $26,000 after acquiring an additional 386 shares during the last quarter. Cetera Investment Advisers boosted its holdings in ACADIA Pharmaceuticals by 2.7% during the fourth quarter. Cetera Investment Advisers now owns 16,355 shares of the biopharmaceutical company's stock worth $437,000 after purchasing an additional 436 shares during the last quarter. J.W. Cole Advisors Inc. boosted its holdings in ACADIA Pharmaceuticals by 2.5% during the fourth quarter. J.W. Cole Advisors Inc. now owns 20,632 shares of the biopharmaceutical company's stock worth $551,000 after purchasing an additional 501 shares during the last quarter. Pallas Capital Advisors LLC grew its position in ACADIA Pharmaceuticals by 4.0% in the 4th quarter. Pallas Capital Advisors LLC now owns 13,192 shares of the biopharmaceutical company's stock worth $352,000 after purchasing an additional 512 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in ACADIA Pharmaceuticals by 2.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 28,666 shares of the biopharmaceutical company's stock valued at $766,000 after buying an additional 566 shares during the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

ACADIA Pharmaceuticals Price Performance

Shares of ACADIA Pharmaceuticals stock opened at $25.97 on Monday. ACADIA Pharmaceuticals has a one year low of $19.69 and a one year high of $28.35. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 18.71 and a beta of 0.80. The business has a 50-day simple moving average of $22.18 and a 200 day simple moving average of $23.39.

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

About ACADIA Pharmaceuticals

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.