Analysts Set ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Target Price at $31.25

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has earned an average recommendation of “Moderate Buy” from the twenty ratings firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $31.30.

ACAD has been the subject of a number of analyst reports. Needham & Company LLC restated a “buy” rating and set a $34.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Monday, January 5th. JPMorgan Chase & Co. reduced their price target on shares of ACADIA Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, November 17th. Stifel Nicolaus set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a report on Tuesday, December 16th. Citigroup lifted their price objective on shares of ACADIA Pharmaceuticals from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Finally, UBS Group boosted their target price on shares of ACADIA Pharmaceuticals from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th.

ACADIA Pharmaceuticals Stock Down 2.2%

Shares of NASDAQ:ACAD opened at $22.70 on Friday. ACADIA Pharmaceuticals has a fifty-two week low of $13.40 and a fifty-two week high of $28.35. The firm has a 50-day simple moving average of $26.38 and a 200 day simple moving average of $24.48. The company has a market cap of $3.84 billion, a PE ratio of 14.65, a P/E/G ratio of 8.15 and a beta of 0.66.

Insider Buying and Selling

In related news, EVP Mark C. Schneyer sold 10,262 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $23.69, for a total value of $243,106.78. Following the sale, the executive vice president directly owned 53,338 shares in the company, valued at $1,263,577.22. This trade represents a 16.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James Kihara sold 4,084 shares of ACADIA Pharmaceuticals stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $23.69, for a total value of $96,749.96. Following the sale, the insider directly owned 25,058 shares in the company, valued at $593,624.02. The trade was a 14.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 21,296 shares of company stock valued at $502,348 in the last three months. 28.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Several institutional investors have recently bought and sold shares of ACAD. Natixis Advisors LLC grew its position in ACADIA Pharmaceuticals by 11.5% in the 4th quarter. Natixis Advisors LLC now owns 71,652 shares of the biopharmaceutical company’s stock valued at $1,914,000 after buying an additional 7,418 shares in the last quarter. Norges Bank acquired a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $40,266,000. Jupiter Asset Management Ltd. boosted its holdings in shares of ACADIA Pharmaceuticals by 30.4% in the fourth quarter. Jupiter Asset Management Ltd. now owns 621,049 shares of the biopharmaceutical company’s stock valued at $16,588,000 after acquiring an additional 144,732 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 3,239,451 shares of the biopharmaceutical company’s stock valued at $86,539,000 after acquiring an additional 106,807 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of ACADIA Pharmaceuticals by 4.2% during the fourth quarter. Fisher Asset Management LLC now owns 665,087 shares of the biopharmaceutical company’s stock valued at $17,764,000 after acquiring an additional 26,595 shares during the period. Institutional investors and hedge funds own 96.71% of the company’s stock.

About ACADIA Pharmaceuticals

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.