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

Key Points

• ACADIA Pharmaceuticals has a consensus “Moderate Buy” rating from 18 analysts: 13 buys, four holds, and one sell. The average 12-month price target is $32.31, above the reported opening price of $26.55.
• Several analysts recently raised their price targets, including RBC and BMO Capital Markets to $36, while Citigroup increased its target to $35; Stifel maintained a hold rating with a $25 target.
• In its latest quarter, ACADIA reported $0.02 in EPS and $268.1 million in revenue, missing analyst estimates of $0.04 EPS and $280.25 million revenue, although revenue increased 9.7% year over year.

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report) have received an average rating of "Moderate Buy" from the eighteen ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $32.3056.

A number of equities research analysts have recently weighed in on the stock. Royal Bank Of Canada lifted their target price on shares of ACADIA Pharmaceuticals from $29.00 to $36.00 and gave the company an "outperform" rating in a research note on Tuesday, July 7th. BMO Capital Markets increased their price target on shares of ACADIA Pharmaceuticals from $34.00 to $36.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 21st. Citigroup raised their price objective on shares of ACADIA Pharmaceuticals from $32.00 to $35.00 and gave the stock a "buy" rating in a report on Monday, June 29th. Stifel Nicolaus lifted their price objective on ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the company a "hold" rating in a research report on Tuesday, July 21st. Finally, Bank of America reiterated a "buy" rating and set a $14.50 target price on shares of ACADIA Pharmaceuticals in a report on Wednesday.

ACADIA Pharmaceuticals Stock Up 0.8%

Shares of ACAD stock opened at $26.55 on Friday. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 18.26 and a beta of 0.80. The stock has a fifty day moving average of $23.65 and a 200 day moving average of $23.21. ACADIA Pharmaceuticals has a 52 week low of $19.69 and a 52 week high of $28.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.02). ACADIA Pharmaceuticals had a net margin of 34.30% and a return on equity of 9.61%. The company had revenue of $268.10 million for the quarter, compared to analysts' expectations of $280.25 million. During the same period in the previous year, the firm posted $0.11 earnings per share. The firm's revenue for the quarter was up 9.7% compared to the same quarter last year. Equities research analysts anticipate that ACADIA Pharmaceuticals will post 0.39 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider James Kihara sold 5,401 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $21.18, for a total value of $114,393.18. Following the sale, the insider directly owned 24,509 shares of the company's stock, valued at $519,100.62. This represents a 18.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark C. Schneyer sold 3,506 shares of the company's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $21.79, for a total transaction of $76,395.74. Following the completion of the sale, the executive vice president directly owned 66,145 shares in the company, valued at $1,441,299.55. This represents a 5.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 10,239 shares of company stock valued at $219,813. 26.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC grew its holdings in ACADIA Pharmaceuticals by 67.5% in the fourth quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company's stock worth $26,000 after purchasing an additional 386 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of ACADIA Pharmaceuticals during the fourth quarter valued at approximately $26,000. Transamerica Financial Advisors LLC lifted its holdings in shares of ACADIA Pharmaceuticals by 304.5% during the fourth quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company's stock valued at $36,000 after purchasing an additional 1,005 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of ACADIA Pharmaceuticals by 277.5% in the 4th quarter. Federated Hermes Inc. now owns 1,612 shares of the biopharmaceutical company's stock worth $43,000 after purchasing an additional 1,185 shares in the last quarter. Finally, Leonteq Securities AG bought a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $52,000. 96.71% of the stock is owned by hedge funds and other institutional investors.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA's research centers concentrate on conditions with significant unmet medical needs, including Parkinson's disease psychosis, Alzheimer's disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company's flagship product, NUPLAZID® (pimavanserin), received U.S.

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