ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Receives $27.64 Average Target Price from Brokerages

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report) have received an average rating of "Moderate Buy" from the seventeen ratings firms that are presently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $27.88.

ACAD has been the topic of a number of recent research reports. Cantor Fitzgerald upgraded ACADIA Pharmaceuticals to a "strong-buy" rating in a report on Thursday, June 5th. JMP Securities reiterated a "market outperform" rating and set a $37.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday. BMO Capital Markets boosted their target price on shares of ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Royal Bank Of Canada raised their price target on shares of ACADIA Pharmaceuticals from $26.00 to $38.00 and gave the stock an "outperform" rating in a research note on Monday. Finally, Oppenheimer restated a "market perform" rating and issued a $22.00 price objective (up from $19.00) on shares of ACADIA Pharmaceuticals in a research note on Thursday.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ:ACAD traded up $0.04 during mid-day trading on Thursday, hitting $22.25. The company had a trading volume of 190,878 shares, compared to its average volume of 1,949,461. ACADIA Pharmaceuticals has a one year low of $13.40 and a one year high of $25.23. The firm has a fifty day moving average price of $19.45 and a 200 day moving average price of $18.19. The company has a market capitalization of $3.72 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 4.80 and a beta of 0.65.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last posted its quarterly earnings results 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 net margin of 22.97% and a return on equity of 17.46%. The business had revenue of $244.32 million during the quarter, compared to analysts' expectations of $239.32 million. During the same period last year, the company posted $0.10 earnings per share. The business's quarterly revenue was up 18.7% on a year-over-year basis. Research analysts expect that ACADIA Pharmaceuticals will post 0.7 earnings per share for the current fiscal year.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 3,498 shares of the firm'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 sale, the executive vice president now owns 62,773 shares of the company's stock, valued at $916,485.80. This trade represents a 5.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Laura Brege sold 14,446 shares of ACADIA Pharmaceuticals stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $21.78, for a total value of $314,633.88. Following the sale, the director now owns 15,095 shares of the company's stock, valued at approximately $328,769.10. This trade represents a 48.90% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,007 shares of company stock valued at $580,446. Corporate insiders own 26.50% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Exchange Traded Concepts LLC bought a new stake in ACADIA Pharmaceuticals during the first quarter valued at approximately $29,000. Banque Transatlantique SA bought a new position in ACADIA Pharmaceuticals in the first quarter valued at $31,000. Picton Mahoney Asset Management purchased a new stake in ACADIA Pharmaceuticals during the first quarter valued at about $32,000. Federated Hermes Inc. lifted its stake in ACADIA Pharmaceuticals by 231.5% during the first quarter. Federated Hermes Inc. now owns 2,317 shares of the biopharmaceutical company's stock worth $38,000 after purchasing an additional 1,618 shares during the last quarter. Finally, Virtus Fund Advisers LLC purchased a new position in shares of ACADIA Pharmaceuticals in the 4th quarter worth about $39,000. 96.71% of the stock is currently owned by institutional investors.

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.