ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Receives $34.36 Average Price Target from Analysts

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have been given a consensus rating of “Moderate Buy” by the eighteen research firms that are currently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $34.3611.

A number of analysts recently issued reports on ACAD shares. BMO Capital Markets raised their price objective on ACADIA Pharmaceuticals from $34.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 21st. Citizens Jmp upped their target price on shares of ACADIA Pharmaceuticals from $35.00 to $36.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 5th. Weiss Ratings raised shares of ACADIA Pharmaceuticals from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of ACADIA Pharmaceuticals from $37.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, August 25th. Finally, Citigroup boosted their price target on shares of ACADIA Pharmaceuticals from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, August 25th.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, EVP Elizabeth Thompson sold 16,558 shares of ACADIA Pharmaceuticals stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $26.13, for a total value of $432,660.54. Following the completion of the sale, the executive vice president directly owned 18,994 shares of the company’s stock, valued at approximately $496,313.22. The trade was a 46.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark Schneyer sold 14,292 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $29.22, for a total value of $417,612.24. Following the completion of the sale, the executive vice president owned 67,828 shares in the company, valued at $1,981,934.16. This represents a 17.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 36,699 shares of company stock valued at $1,019,894. Company insiders own 26.20% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC purchased a new position in ACADIA Pharmaceuticals in the 2nd quarter valued at approximately $50,000. Baird Financial Group Inc. purchased a new stake in shares of ACADIA Pharmaceuticals during the second quarter worth $232,000. Nykredit A S acquired a new stake in shares of ACADIA Pharmaceuticals in the second quarter valued at $38,000. Amundi raised its stake in shares of ACADIA Pharmaceuticals by 27.7% in the second quarter. Amundi now owns 34,153 shares of the biopharmaceutical company’s stock valued at $864,000 after acquiring an additional 7,400 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in ACADIA Pharmaceuticals in the second quarter valued at $2,110,000. 96.71% of the stock is currently owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Stock Performance

ACAD opened at $26.40 on Friday. The stock has a market capitalization of $4.55 billion, a PE ratio of 11.89 and a beta of 0.86. ACADIA Pharmaceuticals has a one year low of $19.69 and a one year high of $30.96. The business’s 50 day moving average price is $27.66 and its 200 day moving average price is $24.17.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.11. ACADIA Pharmaceuticals had a return on equity of 9.03% and a net margin of 33.42%.The company had revenue of $308.00 million during the quarter, compared to analysts’ expectations of $296.55 million. During the same quarter last year, the firm earned $0.16 earnings per share. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. As a group, equities research analysts forecast that ACADIA Pharmaceuticals will post 0.64 earnings per share for the current fiscal year.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing medicines for neurological and psychiatric disorders. The company is headquartered in San Diego, California, and conducts research and commercial activities primarily in the United States.

ACADIA’s marketed products include NUPLAZID (pimavanserin), an atypical antipsychotic approved for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis. The company also markets DAYBUE (trofinetide), a therapy for Rett syndrome, a rare neurodevelopmental disorder.

Founded in 1993, ACADIA continues to advance a pipeline of therapies for central nervous system conditions, including additional neurological and psychiatric disorders.