ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Receives $36.12 Average Price Target from Analysts

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the fifteen analysts that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $36.12.

Several brokerages have recently issued reports on ACAD. Cantor Fitzgerald restated an "overweight" rating and issued a $42.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Wednesday, February 28th. StockNews.com raised ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Tuesday, January 30th. Morgan Stanley dropped their target price on ACADIA Pharmaceuticals from $40.00 to $30.00 and set an "overweight" rating on the stock in a report on Wednesday, March 13th. Royal Bank of Canada dropped their price objective on ACADIA Pharmaceuticals from $36.00 to $35.00 and set an "outperform" rating on the stock in a report on Wednesday, February 28th. Finally, Stifel Nicolaus raised their price objective on ACADIA Pharmaceuticals from $25.00 to $27.00 and gave the company a "hold" rating in a report on Monday, December 18th.

ACADIA Pharmaceuticals Price Performance

ACADIA Pharmaceuticals stock traded down $0.15 during midday trading on Tuesday, reaching $18.11. The company's stock had a trading volume of 1,276,387 shares, compared to its average volume of 1,854,722. ACADIA Pharmaceuticals has a 52-week low of $17.56 and a 52-week high of $33.99. The stock has a market capitalization of $2.98 billion, a P/E ratio of -47.68 and a beta of 0.37. The stock's 50-day simple moving average is $23.30 and its 200-day simple moving average is $24.30.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.04). ACADIA Pharmaceuticals had a negative return on equity of 15.67% and a negative net margin of 8.44%. The firm had revenue of $231.04 million during the quarter, compared to analysts' expectations of $223.79 million. During the same quarter in the previous year, the business earned ($0.26) earnings per share. The company's revenue for the quarter was up 69.3% compared to the same quarter last year. As a group, equities research analysts expect that ACADIA Pharmaceuticals will post 0.64 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Stephen Davis sold 3,732 shares of the company's stock in a transaction on Monday, January 8th. The stock was sold at an average price of $29.96, for a total value of $111,810.72. Following the transaction, the chief executive officer now owns 96,521 shares of the company's stock, valued at approximately $2,891,769.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Stephen Davis sold 3,732 shares of the company's stock in a transaction on Monday, January 8th. The stock was sold at an average price of $29.96, for a total value of $111,810.72. Following the transaction, the chief executive officer now owns 96,521 shares of the company's stock, valued at approximately $2,891,769.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Brendan Teehan sold 5,140 shares of the company's stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $17.90, for a total value of $92,006.00. Following the completion of the transaction, the chief operating officer now directly owns 36,340 shares in the company, valued at approximately $650,486. The disclosure for this sale can be found here. Insiders have sold a total of 40,788 shares of company stock valued at $841,461 in the last quarter. Insiders own 27.50% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Fisher Asset Management LLC purchased a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at about $4,479,000. Wellington Management Group LLP purchased a new position in ACADIA Pharmaceuticals during the 4th quarter worth approximately $1,221,000. Perceptive Advisors LLC purchased a new position in ACADIA Pharmaceuticals during the 4th quarter worth approximately $3,162,000. Eventide Asset Management LLC purchased a new position in ACADIA Pharmaceuticals during the 4th quarter worth approximately $25,342,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in ACADIA Pharmaceuticals by 66.6% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 26,380 shares of the biopharmaceutical company's stock worth $826,000 after buying an additional 10,549 shares during the last quarter. Hedge funds and other 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.