Brokerages Set ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) PT at $27.88

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the seventeen analysts that are presently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $28.13.

Several research analysts have weighed in on ACAD shares. Cantor Fitzgerald raised shares of ACADIA Pharmaceuticals to a "strong-buy" rating in a report on Thursday, June 5th. Deutsche Bank Aktiengesellschaft raised shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating and raised their target price for the stock from $20.00 to $35.00 in a report on Wednesday, May 21st. Bank of America raised their target price on shares of ACADIA Pharmaceuticals from $18.00 to $23.00 and gave the stock a "hold" rating in a report on Thursday, June 5th. Needham & Company LLC reaffirmed a "buy" rating and set a $30.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, June 26th. Finally, Robert W. Baird raised their target price on shares of ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the stock an "outperform" rating in a report on Monday, May 19th.

ACADIA Pharmaceuticals Price Performance

ACADIA Pharmaceuticals stock traded down $0.22 during trading hours on Monday, hitting $23.05. The company had a trading volume of 1,502,860 shares, compared to its average volume of 1,741,109. The firm has a market cap of $3.86 billion, a PE ratio of 16.82, a PEG ratio of 5.01 and a beta of 0.64. ACADIA Pharmaceuticals has a one year low of $13.40 and a one year high of $25.23. The firm has a 50-day moving average of $22.02 and a 200 day moving average of $18.80.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. The firm had revenue of $244.32 million for the quarter, compared to analysts' expectations of $239.32 million. ACADIA Pharmaceuticals had a net margin of 22.97% and a return on equity of 17.46%. The business's revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 EPS. As a group, research analysts expect that ACADIA Pharmaceuticals will post 0.7 earnings per share for the current year.

Insider Activity at ACADIA Pharmaceuticals

In related news, insider James Kihara sold 4,000 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $22.50, for a total value of $90,000.00. Following the transaction, the insider directly owned 20,395 shares of the company's stock, valued at $458,887.50. This trade represents a 16.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 owned 62,773 shares in the company, valued at $916,485.80. This represents a 5.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,271 shares of company stock valued at $525,079 over the last three months. 26.50% of the stock is owned by insiders.

Institutional Trading of ACADIA Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the stock. Maryland State Retirement & Pension System boosted its position in ACADIA Pharmaceuticals by 1.3% in the second quarter. Maryland State Retirement & Pension System now owns 36,397 shares of the biopharmaceutical company's stock valued at $785,000 after buying an additional 476 shares in the last quarter. KLP Kapitalforvaltning AS boosted its position in ACADIA Pharmaceuticals by 11.7% in the second quarter. KLP Kapitalforvaltning AS now owns 22,900 shares of the biopharmaceutical company's stock valued at $494,000 after buying an additional 2,400 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of ACADIA Pharmaceuticals by 15.8% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,465 shares of the biopharmaceutical company's stock worth $139,000 after purchasing an additional 884 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of ACADIA Pharmaceuticals by 8.1% during the second quarter. State of Alaska Department of Revenue now owns 73,747 shares of the biopharmaceutical company's stock worth $1,590,000 after purchasing an additional 5,522 shares during the period. Finally, Kingstone Capital Partners Texas LLC acquired a new position in shares of ACADIA Pharmaceuticals during the second quarter worth $336,000. Institutional investors and hedge funds own 96.71% of the company's stock.

About ACADIA Pharmaceuticals

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.