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

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have received a consensus rating of “Moderate Buy” from the twenty brokerages that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $31.2105.

ACAD has been the subject of several analyst reports. Wall Street Zen lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. UBS Group upped their price target on shares of ACADIA Pharmaceuticals from $35.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Mizuho raised shares of ACADIA Pharmaceuticals from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $29.00 to $35.00 in a research report on Monday, February 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of ACADIA Pharmaceuticals in a research note on Monday, December 29th. Finally, Citizens Jmp boosted their target price on ACADIA Pharmaceuticals from $34.00 to $35.00 and gave the company a “market outperform” rating in a research report on Thursday, February 26th.

ACADIA Pharmaceuticals Stock Performance

NASDAQ ACAD opened at $22.20 on Friday. The business’s 50 day moving average price is $22.93 and its 200-day moving average price is $23.84. ACADIA Pharmaceuticals has a fifty-two week low of $13.40 and a fifty-two week high of $28.35. The company has a market cap of $3.78 billion, a P/E ratio of 9.69, a P/E/G ratio of 22.07 and a beta of 0.83.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $1.48. ACADIA Pharmaceuticals had a return on equity of 12.49% and a net margin of 36.49%.The company had revenue of $298.00 million during the quarter, compared to the consensus estimate of $292.54 million. During the same period last year, the company earned $0.86 earnings per share. ACADIA Pharmaceuticals’s revenue was up 9.4% on a year-over-year basis. As a group, equities analysts predict that ACADIA Pharmaceuticals will post 0.7 EPS for the current year.

Insider Activity

In related news, EVP Jennifer J. Rhodes sold 6,950 shares of the business’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $23.38, for a total transaction of $162,491.00. Following the completion of the transaction, the executive vice president owned 7,609 shares in the company, valued at $177,898.42. The trade was a 47.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 26.50% of the company’s stock.

Institutional Trading of ACADIA Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC grew its holdings in shares of ACADIA Pharmaceuticals by 67.5% in the fourth quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 386 shares during the last quarter. Cetera Investment Advisers lifted its holdings in ACADIA Pharmaceuticals by 2.7% during the 4th quarter. Cetera Investment Advisers now owns 16,355 shares of the biopharmaceutical company’s stock valued at $437,000 after buying an additional 436 shares in the last quarter. J.W. Cole Advisors Inc. lifted its holdings in ACADIA Pharmaceuticals by 2.5% during the 4th quarter. J.W. Cole Advisors Inc. now owns 20,632 shares of the biopharmaceutical company’s stock valued at $551,000 after buying an additional 501 shares in the last quarter. Pallas Capital Advisors LLC boosted its position in ACADIA Pharmaceuticals by 4.0% in the 4th quarter. Pallas Capital Advisors LLC now owns 13,192 shares of the biopharmaceutical company’s stock valued at $352,000 after buying an additional 512 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in ACADIA Pharmaceuticals by 11.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,323 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 534 shares during the period. 96.71% of the stock is currently owned by institutional investors.

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.