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

Key Points

• ACADIA Pharmaceuticals has received a "Moderate Buy" consensus rating from 21 analysts, with an average 12-month price target of $29.12.
• Insider trading activity includes EVP Mark C. Schneyer and Director Elizabeth A. Garofalo selling a combined total of 27,098 shares in the last 90 days.
• In the latest quarter, ACADIA Pharmaceuticals reported $0.16 earnings per share, exceeding expectations and showing a 9.4% year-over-year revenue increase.

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report) has been given an average rating of "Moderate Buy" by the twenty-one analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $29.1176.

ACAD has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their target price on ACADIA Pharmaceuticals from $15.00 to $17.00 and gave the stock a "sell" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. reduced their target price on ACADIA Pharmaceuticals from $34.00 to $33.00 and set an "overweight" rating on the stock in a research note on Monday, September 29th. Royal Bank Of Canada increased their target price on ACADIA Pharmaceuticals from $39.00 to $40.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Wall Street Zen lowered ACADIA Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of ACADIA Pharmaceuticals in a research note on Saturday, September 27th.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, EVP Mark C. Schneyer sold 22,000 shares of the firm's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $25.18, for a total transaction of $553,960.00. Following the transaction, the executive vice president owned 40,130 shares in the company, valued at approximately $1,010,473.40. This trade represents a 35.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Elizabeth A. Garofalo sold 1,600 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $25.98, for a total value of $41,568.00. Following the transaction, the director owned 25,382 shares in the company, valued at approximately $659,424.36. This represents a 5.93% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,098 shares of company stock worth $678,256. Insiders own 26.50% of the company's stock.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its stake in shares of ACADIA Pharmaceuticals by 645.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 310,332 shares of the biopharmaceutical company's stock valued at $5,065,000 after buying an additional 268,714 shares during the period. Comerica Bank increased its stake in shares of ACADIA Pharmaceuticals by 4,770.1% during the first quarter. Comerica Bank now owns 43,100 shares of the biopharmaceutical company's stock valued at $716,000 after buying an additional 42,215 shares during the period. GAMMA Investing LLC boosted its position in ACADIA Pharmaceuticals by 627.3% during the first quarter. GAMMA Investing LLC now owns 3,513 shares of the biopharmaceutical company's stock valued at $58,000 after purchasing an additional 3,030 shares in the last quarter. Rhumbline Advisers boosted its position in ACADIA Pharmaceuticals by 100.9% during the first quarter. Rhumbline Advisers now owns 352,716 shares of the biopharmaceutical company's stock valued at $5,859,000 after purchasing an additional 177,188 shares in the last quarter. Finally, Concurrent Investment Advisors LLC bought a new stake in ACADIA Pharmaceuticals during the first quarter valued at about $247,000. Hedge funds and other institutional investors own 96.71% of the company's stock.

ACADIA Pharmaceuticals Stock Up 2.0%

Shares of ACAD opened at $21.80 on Friday. The business has a fifty day moving average of $24.16 and a 200 day moving average of $20.83. ACADIA Pharmaceuticals has a 52-week low of $13.40 and a 52-week high of $26.65. The company has a market cap of $3.68 billion, a PE ratio of 16.39, a P/E/G ratio of 7.53 and a beta of 0.75.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. ACADIA Pharmaceuticals had a return on equity of 14.69% and a net margin of 21.80%.The business had revenue of $264.57 million for the quarter, compared to analyst estimates of $263.07 million. During the same quarter last year, the firm posted $0.20 earnings per share. The business's revenue was up 9.4% compared to the same quarter last year. As a group, research analysts anticipate that ACADIA Pharmaceuticals will post 0.7 earnings per share for the current fiscal 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.

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