ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Receives Average Rating of "Moderate Buy" from Brokerages

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report) have been given a consensus rating of "Moderate Buy" by the fourteen brokerages that are currently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $26.83.

ACAD has been the topic of several recent analyst reports. Wall Street Zen raised shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. Mizuho lifted their price target on ACADIA Pharmaceuticals from $20.00 to $23.00 and gave the company a "neutral" rating in a report on Monday, May 19th. BMO Capital Markets upped their price target on ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Oppenheimer restated a "market perform" rating on shares of ACADIA Pharmaceuticals in a research report on Friday, May 16th. Finally, Morgan Stanley set a $24.00 target price on ACADIA Pharmaceuticals and gave the company an "equal weight" rating in a research note on Tuesday, May 20th.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD stock traded down $0.69 during mid-day trading on Friday, hitting $21.60. 1,446,509 shares of the stock traded hands, compared to its average volume of 1,939,166. ACADIA Pharmaceuticals has a twelve month low of $13.40 and a twelve month high of $25.23. The company's 50-day simple moving average is $16.87 and its 200-day simple moving average is $17.48. The firm has a market cap of $3.62 billion, a price-to-earnings ratio of 27.69 and a beta of 0.47.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The business had revenue of $244.32 million during the quarter, compared to analyst estimates of $239.32 million. During the same period in the prior year, the business earned $0.10 earnings per share. The business's quarterly revenue was up 18.7% on a year-over-year basis. Analysts forecast that ACADIA Pharmaceuticals will post 0.7 earnings per share for the current year.

Insider Transactions at ACADIA Pharmaceuticals

In other news, Director Elizabeth A. Garofalo sold 4,919 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total transaction of $89,673.37. Following the sale, the director now directly owns 17,595 shares of the company's stock, valued at $320,756.85. This represents a 21.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark C. Schneyer sold 3,498 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $14.60, for a total transaction of $51,070.80. Following the completion of the sale, the executive vice president now directly owns 62,773 shares of the company's stock, valued at approximately $916,485.80. This represents a 5.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,746 shares of company stock valued at $428,221 in the last three months. 28.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of ACADIA Pharmaceuticals by 9.0% in the 1st quarter. Vanguard Group Inc. now owns 15,203,234 shares of the biopharmaceutical company's stock valued at $252,526,000 after buying an additional 1,255,594 shares during the period. Assenagon Asset Management S.A. bought a new position in ACADIA Pharmaceuticals in the first quarter valued at about $60,845,000. Fred Alger Management LLC grew its position in shares of ACADIA Pharmaceuticals by 2.0% during the 1st quarter. Fred Alger Management LLC now owns 2,769,828 shares of the biopharmaceutical company's stock worth $46,007,000 after buying an additional 54,899 shares during the period. First Trust Advisors LP raised its position in shares of ACADIA Pharmaceuticals by 27.0% during the 4th quarter. First Trust Advisors LP now owns 2,700,125 shares of the biopharmaceutical company's stock valued at $49,547,000 after acquiring an additional 574,251 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in ACADIA Pharmaceuticals in the fourth quarter valued at about $40,935,000. Institutional investors own 96.71% of the company's stock.

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.