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

Key Points

• Analysts rate ACADIA Pharmaceuticals a “Moderate Buy”: Of 17 covering brokerages, 14 recommend buying the stock and three rate it a hold. The average 12-month price target is $34.19, above the reported $29.65 opening price.
• Recent financial results exceeded expectations: ACADIA reported quarterly earnings of $0.18 per share versus the $0.07 consensus estimate, while revenue reached $308 million, up 16.4% year over year and ahead of forecasts.
• Institutional ownership is substantial, while insiders have sold shares: Institutions and hedge funds own 96.71% of the stock, with several major investors recently adding positions. Company insiders sold 36,699 shares worth about $1.02 million over the past three months.

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report) has been assigned an average rating of "Moderate Buy" from the seventeen brokerages that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $34.1944.

Several equities research analysts have commented on the company. Needham & Company LLC upped their price objective on ACADIA Pharmaceuticals from $38.00 to $41.00 and gave the stock a "buy" rating in a research report on Wednesday, August 12th. HC Wainwright reaffirmed a "buy" rating on shares of ACADIA Pharmaceuticals in a report on Thursday, August 6th. Stifel Nicolaus increased their price target on shares of ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the stock a "hold" rating in a report on Tuesday, July 21st. Royal Bank Of Canada increased their price target on shares of ACADIA Pharmaceuticals from $36.00 to $37.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Finally, BMO Capital Markets raised their price target on shares of ACADIA Pharmaceuticals from $34.00 to $36.00 and gave the company an "outperform" rating in a research report on Tuesday, July 21st.

Insider Activity

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

Institutional Trading of ACADIA Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in ACADIA Pharmaceuticals in the 2nd quarter valued at $569,634,000. California State Teachers Retirement System raised its position in ACADIA Pharmaceuticals by 2,351.9% during the second quarter. California State Teachers Retirement System now owns 3,389,669 shares of the biopharmaceutical company's stock worth $85,759,000 after acquiring an additional 3,251,425 shares during the period. Palo Alto Investors LP acquired a new position in ACADIA Pharmaceuticals during the second quarter worth $72,461,629,000. Norges Bank purchased a new position in ACADIA Pharmaceuticals during the fourth quarter valued at $40,266,000. Finally, Millennium Management LLC lifted its holdings in ACADIA Pharmaceuticals by 2,052.1% during the third quarter. Millennium Management LLC now owns 1,483,235 shares of the biopharmaceutical company's stock valued at $31,652,000 after purchasing an additional 1,414,315 shares in the last quarter. 96.71% of the stock is owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Stock Performance

NASDAQ:ACAD opened at $29.65 on Tuesday. ACADIA Pharmaceuticals has a one year low of $19.69 and a one year high of $30.96. The firm has a market cap of $5.11 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 23.23 and a beta of 0.81. The firm's fifty day moving average is $26.12 and its two-hundred day moving average is $23.50.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released 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 business had revenue of $308.00 million during the quarter, compared to analyst estimates of $296.55 million. ACADIA Pharmaceuticals had a return on equity of 9.03% and a net margin of 33.42%.The company's revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the business posted $0.16 EPS. As a group, equities research analysts predict that ACADIA Pharmaceuticals will post 0.59 earnings per share for the current fiscal year.

ACADIA Pharmaceuticals Company Profile

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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