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

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have been assigned a consensus rating of “Moderate Buy” from the fifteen analysts that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $35.82.

A number of equities research analysts have recently weighed in on ACAD shares. Mizuho cut ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their price target for the company from $39.00 to $25.00 in a report on Tuesday, March 12th. Oppenheimer reaffirmed a “market perform” rating and set a $25.00 price target on shares of ACADIA Pharmaceuticals in a report on Monday, February 5th. Morgan Stanley cut their price target on ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating on the stock in a report on Wednesday, March 13th. JMP Securities reaffirmed a “market outperform” rating and set a $42.00 price target on shares of ACADIA Pharmaceuticals in a report on Wednesday, February 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $37.00 price target on shares of ACADIA Pharmaceuticals in a report on Wednesday, April 10th.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 26,574 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $17.87, for a total value of $474,877.38. Following the transaction, the chief executive officer now owns 144,267 shares in the company, valued at $2,578,051.29. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 26,574 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $17.87, for a total value of $474,877.38. Following the transaction, the chief executive officer now owns 144,267 shares in the company, valued at $2,578,051.29. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Mark C. Schneyer sold 5,434 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $17.90, for a total transaction of $97,268.60. Following the completion of the transaction, the chief financial officer now owns 26,183 shares in the company, valued at approximately $468,675.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,383 shares of company stock worth $1,291,362. 27.50% of the stock is owned by insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. WCM Investment Management LLC purchased a new position in ACADIA Pharmaceuticals during the 1st quarter worth approximately $5,215,000. Wesbanco Bank Inc. purchased a new position in ACADIA Pharmaceuticals during the 1st quarter worth approximately $496,000. Diversified Trust Co grew its position in ACADIA Pharmaceuticals by 6.3% during the 1st quarter. Diversified Trust Co now owns 30,865 shares of the biopharmaceutical company’s stock worth $571,000 after purchasing an additional 1,826 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in ACADIA Pharmaceuticals by 24.2% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 142,998 shares of the biopharmaceutical company’s stock worth $2,644,000 after purchasing an additional 27,871 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its position in ACADIA Pharmaceuticals by 3.5% during the 1st quarter. Los Angeles Capital Management LLC now owns 67,474 shares of the biopharmaceutical company’s stock worth $1,248,000 after purchasing an additional 2,295 shares in the last quarter. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

ACADIA Pharmaceuticals Stock Up 2.5 %

Shares of ACAD stock opened at $16.71 on Friday. The business has a 50 day moving average of $20.11 and a two-hundred day moving average of $23.58. ACADIA Pharmaceuticals has a 52 week low of $16.16 and a 52 week high of $33.99. The company has a market cap of $2.75 billion, a P/E ratio of -43.97 and a beta of 0.37.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The company had revenue of $231.04 million during the quarter, compared to analyst estimates of $223.79 million. During the same quarter in the previous year, the firm earned ($0.26) earnings per share. The business’s revenue was up 69.3% on a year-over-year basis. Analysts expect that ACADIA Pharmaceuticals will post 0.62 EPS for the current fiscal year.

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.