ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analysts maintain a Moderate Buy consensus on ACADIA Pharmaceuticals, with 14 buy ratings and four holds among 18 brokerages. The average 12-month price target is $34.36, while several firms recently raised their targets.
• ACADIA reported quarterly earnings of $0.18 per share, beating the $0.07 consensus estimate, while revenue reached $308 million and rose 16.4% year over year.
• Shares opened at $27.29, near their 50-day average and below the 52-week high of $30.96. Insiders sold roughly $1.02 million of stock over the past three months, although institutional investors own 96.71% of shares.

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report) has earned an average rating of "Moderate Buy" from the eighteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $34.3611.

Several brokerages have weighed in on ACAD. Needham & Company LLC lifted their price target on shares of ACADIA Pharmaceuticals from $38.00 to $41.00 and gave the company a "buy" rating in a report on Wednesday, August 12th. Citigroup increased their price objective on shares of ACADIA Pharmaceuticals from $39.00 to $40.00 and gave the stock a "buy" rating in a research note on Tuesday, August 25th. UBS Group raised their price objective on shares of ACADIA Pharmaceuticals from $45.00 to $49.00 and gave the company a "buy" rating in a research report on Monday, August 17th. Stifel Nicolaus raised their price objective on shares of ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the company a "hold" rating in a research report on Tuesday, July 21st. Finally, Canaccord Genuity Group lifted 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 Monday, June 29th.

ACADIA Pharmaceuticals Stock Down 0.6%

Shares of ACAD opened at $27.29 on Friday. The business has a 50-day simple moving average of $27.64 and a two-hundred day simple moving average of $24.13. ACADIA Pharmaceuticals has a 52 week low of $19.69 and a 52 week high of $30.96. The stock has a market cap of $4.70 billion, a price-to-earnings ratio of 12.29 and a beta of 0.86.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.11. The firm had revenue of $308.00 million for the quarter, compared to analysts' expectations of $296.55 million. ACADIA Pharmaceuticals had a return on equity of 9.03% and a net margin of 33.42%.The business's quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.16 EPS. On average, equities analysts anticipate that ACADIA Pharmaceuticals will post 0.64 earnings per share for the current fiscal year.

Insider Transactions at ACADIA Pharmaceuticals

In other news, EVP Elizabeth Thompson sold 16,558 shares of the business's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $26.13, for a total value of $432,660.54. Following the transaction, the executive vice president directly owned 18,994 shares in the company, valued at $496,313.22. The trade was a 46.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark Schneyer sold 14,292 shares of the company's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $29.22, for a total value of $417,612.24. Following the completion of the transaction, the executive vice president directly owned 67,828 shares of the company's stock, valued at approximately $1,981,934.16. This trade represents a 17.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 36,699 shares of company stock worth $1,019,894. Insiders own 26.20% of the company's stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the stock. Nykredit A S bought a new stake in shares of ACADIA Pharmaceuticals during the second quarter valued at approximately $38,000. Integrated Wealth Concepts LLC bought a new position in shares of ACADIA Pharmaceuticals during the second quarter worth $50,000. Leonteq Securities AG bought a new position in shares of ACADIA Pharmaceuticals during the fourth quarter worth $52,000. Global Retirement Partners LLC purchased a new position in ACADIA Pharmaceuticals during the second quarter valued at $64,000. Finally, GAMMA Investing LLC grew its stake in ACADIA Pharmaceuticals by 15.6% during the second quarter. GAMMA Investing LLC now owns 2,985 shares of the biopharmaceutical company's stock valued at $76,000 after acquiring an additional 402 shares in the last quarter. 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 developing and commercializing medicines for neurological and psychiatric disorders. The company is headquartered in San Diego, California, and conducts research and commercial activities primarily in the United States.

ACADIA's marketed products include NUPLAZID (pimavanserin), an atypical antipsychotic approved for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis. The company also markets DAYBUE (trofinetide), a therapy for Rett syndrome, a rare neurodevelopmental disorder.

Founded in 1993, ACADIA continues to advance a pipeline of therapies for central nervous system conditions, including additional neurological and psychiatric disorders.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.