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

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

Several research analysts recently commented on ACAD shares. JPMorgan Chase & Co. reduced their price target on ACADIA Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, November 17th. Wall Street Zen downgraded ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. UBS Group boosted their target price on shares of ACADIA Pharmaceuticals from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Oppenheimer reaffirmed a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Friday. Finally, Piper Sandler set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Tuesday, December 16th.

ACADIA Pharmaceuticals Price Performance

ACADIA Pharmaceuticals stock opened at $23.56 on Friday. The company has a market cap of $3.99 billion, a price-to-earnings ratio of 15.20, a P/E/G ratio of 8.28 and a beta of 0.66. The firm has a 50-day moving average of $26.47 and a 200-day moving average of $24.48. ACADIA Pharmaceuticals has a one year low of $13.40 and a one year high of $28.35.

Insider Transactions at ACADIA Pharmaceuticals

In other news, insider James Kihara sold 4,084 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 $96,749.96. Following the completion of the sale, the insider directly owned 25,058 shares of the company’s stock, valued at $593,624.02. This trade represents a 14.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Mark C. Schneyer sold 10,262 shares of ACADIA Pharmaceuticals 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 transaction, the executive vice president owned 53,338 shares of the company’s stock, valued at $1,263,577.22. This represents a 16.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 28.30% 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. Geode Capital Management LLC boosted its position in ACADIA Pharmaceuticals by 2.4% during the second quarter. Geode Capital Management LLC now owns 3,024,097 shares of the biopharmaceutical company’s stock worth $65,238,000 after purchasing an additional 69,584 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of ACADIA Pharmaceuticals by 16.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,798,134 shares of the biopharmaceutical company’s stock worth $59,712,000 after buying an additional 402,534 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of ACADIA Pharmaceuticals by 2.8% during the 2nd quarter. First Trust Advisors LP now owns 2,434,376 shares of the biopharmaceutical company’s stock worth $52,509,000 after buying an additional 65,914 shares during the period. Braidwell LP bought a new stake in shares of ACADIA Pharmaceuticals during the 3rd quarter worth about $50,760,000. Finally, Marshall Wace LLP grew its stake in ACADIA Pharmaceuticals by 19.8% in the 3rd quarter. Marshall Wace LLP now owns 2,358,881 shares of the biopharmaceutical company’s stock valued at $50,339,000 after buying an additional 389,170 shares during the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Company Profile

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.