Analysts Set ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Price Target at $24.21

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report) has received a consensus rating of "Moderate Buy" from the eleven research firms that are presently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $24.70.

Several research analysts recently commented on ACAD shares. Cantor Fitzgerald reissued an "overweight" rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Morgan Stanley restated an "equal weight" rating and set a $20.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Friday, March 7th. Needham & Company LLC restated a "buy" rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Tuesday, April 8th. StockNews.com upgraded ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday, March 8th. Finally, UBS Group decreased their price target on ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating for the company in a research note on Monday, April 28th.

Insider Transactions at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 3,498 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $14.60, for a total value of $51,070.80. Following the transaction, the executive vice president now directly owns 62,773 shares in the company, valued at $916,485.80. This represents a 5.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Elizabeth A. Garofalo sold 4,919 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total value of $89,673.37. Following the completion of the transaction, the director now owns 17,595 shares in the company, valued at $320,756.85. This represents a 21.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,994 shares of company stock valued at $313,131. 26.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC lifted its holdings in ACADIA Pharmaceuticals by 380.3% in the fourth quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company's stock worth $45,576,000 after buying an additional 1,966,607 shares during the period. Barclays PLC boosted its position in shares of ACADIA Pharmaceuticals by 126.2% during the third quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company's stock valued at $4,269,000 after purchasing an additional 154,854 shares in the last quarter. Burney Co. bought a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter valued at approximately $6,953,000. Proficio Capital Partners LLC bought a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter valued at approximately $272,000. Finally, Vanguard Group Inc. boosted its position in shares of ACADIA Pharmaceuticals by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 13,947,640 shares of the biopharmaceutical company's stock valued at $255,939,000 after purchasing an additional 104,444 shares in the last quarter. Hedge funds and other institutional investors own 96.71% of the company's stock.

ACADIA Pharmaceuticals Stock Down 2.3%

NASDAQ ACAD traded down $0.40 during trading on Wednesday, hitting $17.04. The company's stock had a trading volume of 398,046 shares, compared to its average volume of 1,850,976. The firm has a market cap of $2.85 billion, a P/E ratio of 21.62 and a beta of 0.47. ACADIA Pharmaceuticals has a 52 week low of $13.40 and a 52 week high of $20.68. The firm has a 50 day moving average price of $15.83 and a 200 day moving average price of $16.98.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The company had revenue of $244.32 million for the quarter, compared to analyst estimates of $239.32 million. During the same quarter in the previous year, the firm earned $0.10 earnings per share. The business's revenue was up 18.7% on a year-over-year basis. On average, equities analysts expect 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.