Brokerages Set ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) PT at $23.93

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the sixteen ratings firms that are presently covering the company, MarketBeat reports. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $23.93.

A number of equities research analysts have weighed in on the stock. Cantor Fitzgerald restated an "overweight" rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft started coverage on ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "hold" rating and a $22.00 price target for the company. StockNews.com raised shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday, March 8th. HC Wainwright reiterated a "buy" rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and issued a $20.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Friday, March 7th.

Insiders Place Their Bets

In other news, EVP Mark C. Schneyer sold 2,708 shares of the company's stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $14.82, for a total value of $40,132.56. Following the transaction, the executive vice president now owns 59,456 shares of the company's stock, valued at $881,137.92. This represents a 4.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Elizabeth A. Garofalo sold 4,919 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total transaction of $89,673.37. Following the completion of the transaction, the director now directly owns 17,595 shares in the company, valued at $320,756.85. The trade was a 21.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,169 shares of company stock valued at $242,686 in the last ninety days. 28.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several hedge funds have recently bought and sold shares of the company. Exchange Traded Concepts LLC acquired a new position in ACADIA Pharmaceuticals during the 1st quarter worth $29,000. Assenagon Asset Management S.A. acquired a new position in shares of ACADIA Pharmaceuticals during the first quarter worth about $60,845,000. GAMMA Investing LLC grew its position in shares of ACADIA Pharmaceuticals by 627.3% during the first quarter. GAMMA Investing LLC now owns 3,513 shares of the biopharmaceutical company's stock worth $58,000 after buying an additional 3,030 shares in the last quarter. Yousif Capital Management LLC purchased a new stake in shares of ACADIA Pharmaceuticals during the first quarter worth approximately $764,000. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in ACADIA Pharmaceuticals by 26.8% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 131,061 shares of the biopharmaceutical company's stock valued at $2,177,000 after acquiring an additional 27,736 shares in the last quarter. Institutional investors and hedge funds own 96.71% of the company's stock.

ACADIA Pharmaceuticals Price Performance

ACADIA Pharmaceuticals stock traded down $0.09 during mid-day trading on Friday, reaching $14.48. 140,361 shares of the company traded hands, compared to its average volume of 1,847,559. The firm's 50 day moving average price is $17.32 and its 200 day moving average price is $16.93. ACADIA Pharmaceuticals has a 52-week low of $13.40 and a 52-week high of $20.68. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 18.60 and a beta of 0.54.

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.