Analysts Set ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Price Target at $25.56

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have received a consensus rating of “Moderate Buy” from the sixteen brokerages that are currently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $25.56.

ACAD has been the subject of a number of research reports. Robert W. Baird dropped their price objective on shares of ACADIA Pharmaceuticals from $31.00 to $28.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 8th. Cantor Fitzgerald reduced their price objective on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada lowered their target price on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, Bank of America reduced their price target on ACADIA Pharmaceuticals from $26.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th.

Insiders Place Their Bets

In other news, COO Brendan Teehan sold 9,534 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $145,679.52. Following the completion of the sale, the chief operating officer now owns 52,177 shares in the company, valued at approximately $797,264.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Brendan Teehan sold 9,534 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $145,679.52. Following the completion of the sale, the chief operating officer now directly owns 52,177 shares in the company, valued at approximately $797,264.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Stephen Davis sold 31,747 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $485,094.16. Following the transaction, the chief executive officer now directly owns 186,555 shares in the company, valued at $2,850,560.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,989 shares of company stock worth $793,914. Corporate insiders own 28.30% of the company’s stock.

Institutional Trading of ACADIA Pharmaceuticals

Several hedge funds have recently bought and sold shares of ACAD. Covestor Ltd lifted its stake in shares of ACADIA Pharmaceuticals by 70.5% in the first quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 840 shares in the last quarter. Quest Partners LLC bought a new position in ACADIA Pharmaceuticals in the 4th quarter valued at about $39,000. Headlands Technologies LLC bought a new stake in ACADIA Pharmaceuticals during the 1st quarter worth approximately $48,000. Stonepine Capital Management LLC bought a new stake in ACADIA Pharmaceuticals during the 2nd quarter worth approximately $81,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in ACADIA Pharmaceuticals during the 4th quarter worth approximately $100,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Price Performance

ACAD stock opened at $16.22 on Friday. ACADIA Pharmaceuticals has a 1 year low of $14.55 and a 1 year high of $32.59. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of -1,622.00, a P/E/G ratio of 0.56 and a beta of 0.38. The company has a 50 day simple moving average of $16.89 and a 200 day simple moving average of $17.53.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. The company had revenue of $241.96 million during the quarter, compared to analysts’ expectations of $235.95 million. ACADIA Pharmaceuticals had a return on equity of 6.89% and a net margin of 3.43%. ACADIA Pharmaceuticals’s revenue was up 46.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.01 EPS. On average, equities research analysts anticipate that ACADIA Pharmaceuticals will post 0.52 EPS for the current fiscal year.

About ACADIA Pharmaceuticals

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.