Brokerages Set ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Price Target at $31.21

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has been given a consensus rating of “Moderate Buy” by the twenty ratings firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation, fourteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $31.2105.

A number of equities analysts have recently commented on the stock. Bank of America raised shares of ACADIA Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Wednesday, March 25th. Citizens Jmp lifted their price target on shares of ACADIA Pharmaceuticals from $34.00 to $35.00 and gave the company a “market outperform” rating in a research report on Thursday, February 26th. Wolfe Research assumed coverage on shares of ACADIA Pharmaceuticals in a research report on Monday, February 23rd. They issued an “outperform” rating and a $33.00 price target on the stock. Citigroup lifted their price target 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, Wall Street Zen lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st.

Insiders Place Their Bets

In related news, EVP Jennifer J. Rhodes sold 6,950 shares of the business’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $23.38, for a total transaction of $162,491.00. Following the transaction, the executive vice president owned 7,609 shares of the company’s stock, valued at approximately $177,898.42. The trade was a 47.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Mark C. Schneyer sold 2,709 shares of the business’s stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $22.20, for a total transaction of $60,139.80. Following the transaction, the executive vice president directly owned 62,836 shares in the company, valued at $1,394,959.20. This trade represents a 4.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 10,689 shares of company stock worth $245,497 in the last ninety days. 28.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC increased its position in ACADIA Pharmaceuticals by 67.5% during the fourth quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 386 shares during the period. Meeder Asset Management Inc. bought a new position in ACADIA Pharmaceuticals during the fourth quarter worth $26,000. Transamerica Financial Advisors LLC increased its position in ACADIA Pharmaceuticals by 304.5% during the fourth quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 1,005 shares during the period. Geneos Wealth Management Inc. increased its position in ACADIA Pharmaceuticals by 113.0% during the third quarter. Geneos Wealth Management Inc. now owns 1,425 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 756 shares during the period. Finally, Federated Hermes Inc. increased its position in ACADIA Pharmaceuticals by 277.5% during the fourth quarter. Federated Hermes Inc. now owns 1,612 shares of the biopharmaceutical company’s stock worth $43,000 after acquiring an additional 1,185 shares during the period. Institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Stock Up 1.7%

NASDAQ:ACAD opened at $22.67 on Wednesday. ACADIA Pharmaceuticals has a 12 month low of $14.18 and a 12 month high of $28.35. The firm has a market cap of $3.87 billion, a price-to-earnings ratio of 9.90, a P/E/G ratio of 23.31 and a beta of 0.83. The company’s 50 day moving average is $22.25 and its 200-day moving average is $23.85.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $1.48. ACADIA Pharmaceuticals had a net margin of 36.49% and a return on equity of 12.49%. The company had revenue of $298.00 million for the quarter, compared to analyst estimates of $292.54 million. During the same quarter last year, the firm posted $0.86 earnings per share. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. Research analysts predict that ACADIA Pharmaceuticals will post 0.45 EPS for the current fiscal year.

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.