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

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the seventeen research firms that are presently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $27.88.

A number of brokerages recently issued reports on ACAD. BMO Capital Markets upped their target price on ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Wall Street Zen raised ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. Robert W. Baird increased their price objective on ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. Cantor Fitzgerald raised ACADIA Pharmaceuticals to a "strong-buy" rating in a research report on Thursday, June 5th. Finally, Morgan Stanley set a $24.00 price target on ACADIA Pharmaceuticals and gave the company an "equal weight" rating in a report on Tuesday, May 20th.

Insider Transactions at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, insider James Kihara sold 4,000 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $22.50, for a total value of $90,000.00. Following the completion of the sale, the insider directly owned 20,395 shares in the company, valued at $458,887.50. This represents a 16.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark C. Schneyer sold 3,498 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $14.60, for a total value of $51,070.80. Following the sale, the executive vice president owned 62,773 shares of the company's stock, valued at $916,485.80. This trade represents a 5.28% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,271 shares of company stock worth $525,079. Company insiders own 28.30% of the company's stock.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. GF Fund Management CO. LTD. grew its position in shares of ACADIA Pharmaceuticals by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 4,260 shares of the biopharmaceutical company's stock valued at $71,000 after purchasing an additional 766 shares during the last quarter. Summit Investment Advisors Inc. grew its position in ACADIA Pharmaceuticals by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 12,519 shares of the biopharmaceutical company's stock worth $230,000 after buying an additional 795 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in 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 valued at $139,000 after purchasing an additional 884 shares in the last quarter. Xponance Inc. boosted its holdings in ACADIA Pharmaceuticals by 14.1% during the first quarter. Xponance Inc. now owns 11,585 shares of the biopharmaceutical company's stock valued at $192,000 after purchasing an additional 1,434 shares in the last quarter. Finally, Federated Hermes Inc. boosted its holdings in ACADIA Pharmaceuticals by 231.5% during the first quarter. Federated Hermes Inc. now owns 2,317 shares of the biopharmaceutical company's stock valued at $38,000 after purchasing an additional 1,618 shares in the last quarter. 96.71% of the stock is currently owned by institutional investors.

ACADIA Pharmaceuticals Trading Down 1.2%

ACAD traded down $0.28 during mid-day trading on Monday, hitting $22.28. 889,614 shares of the stock were exchanged, compared to its average volume of 1,969,045. The firm's fifty day moving average is $21.58 and its two-hundred day moving average is $18.67. ACADIA Pharmaceuticals has a 1-year low of $13.40 and a 1-year high of $25.23. The company has a market cap of $3.73 billion, a PE ratio of 16.26, a PEG ratio of 4.86 and a beta of 0.64.

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

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.