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

Key Points

• ACADIA Pharmaceuticals Inc. has received a consensus recommendation of "Moderate Buy" from eighteen analysts, with an average 12-month target price of $28.88.
• The company reported $0.16 earnings per share for the last quarter, exceeding expectations, with revenue of $264.57 million, a 9.4% increase from the previous year.
• Recent insider activity included Director Elizabeth A. Garofalo selling 1,600 shares and EVP Mark C. Schneyer selling 22,000 shares of ACAD stock.

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the eighteen analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $28.8750.

ACAD has been the subject of several recent research reports. Needham & Company LLC reiterated a "buy" rating and set a $30.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, June 26th. UBS Group boosted their target price on shares of ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Citigroup reiterated an "outperform" rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 7th. Morgan Stanley set a $24.00 target price on shares of ACADIA Pharmaceuticals and gave the company an "equal weight" rating in a research note on Tuesday, May 20th. Finally, Mizuho boosted their target price on shares of ACADIA Pharmaceuticals from $23.00 to $24.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th.

ACADIA Pharmaceuticals Trading Up 0.5%

Shares of NASDAQ:ACAD opened at $25.39 on Tuesday. The company has a fifty day simple moving average of $23.76 and a 200 day simple moving average of $20.20. The firm has a market cap of $4.28 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 6.40 and a beta of 0.75. ACADIA Pharmaceuticals has a 12-month low of $13.40 and a 12-month high of $26.65.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. The business had revenue of $264.57 million during the quarter, compared to analyst estimates of $263.07 million. ACADIA Pharmaceuticals had a net margin of 21.80% and a return on equity of 14.69%. The business's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.20 earnings per share. As a group, equities research analysts forecast that ACADIA Pharmaceuticals will post 0.7 EPS for the current fiscal year.

Insider Activity

In other news, Director Elizabeth A. Garofalo sold 1,600 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $25.98, for a total transaction of $41,568.00. Following the completion of the transaction, the director owned 25,382 shares in the company, valued at approximately $659,424.36. This represents a 5.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark C. Schneyer sold 22,000 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $25.18, for a total transaction of $553,960.00. Following the transaction, the executive vice president owned 40,130 shares of the company's stock, valued at $1,010,473.40. This represents a 35.41% decrease in their position. The disclosure for this sale can be found here. 28.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several institutional investors have recently modified their holdings of the company. Thrivent Financial for Lutherans grew its position in shares of ACADIA Pharmaceuticals by 0.7% during the second quarter. Thrivent Financial for Lutherans now owns 91,067 shares of the biopharmaceutical company's stock worth $1,964,000 after acquiring an additional 626 shares during the last quarter. Cim Investment Management Inc. grew its position in shares of ACADIA Pharmaceuticals by 100.7% during the second quarter. Cim Investment Management Inc. now owns 29,573 shares of the biopharmaceutical company's stock worth $589,000 after acquiring an additional 14,841 shares during the last quarter. Public Sector Pension Investment Board grew its position in shares of ACADIA Pharmaceuticals by 8.2% during the second quarter. Public Sector Pension Investment Board now owns 422,252 shares of the biopharmaceutical company's stock worth $9,108,000 after acquiring an additional 31,821 shares during the last quarter. FORA Capital LLC acquired a new stake in ACADIA Pharmaceuticals in the second quarter worth about $297,000. Finally, Tower Research Capital LLC TRC lifted its holdings in ACADIA Pharmaceuticals by 250.6% in the second quarter. Tower Research Capital LLC TRC now owns 15,629 shares of the biopharmaceutical company's stock worth $337,000 after purchasing an additional 11,171 shares during the period. Institutional investors own 96.71% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.