ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Receives Average Rating of “Moderate Buy” from Analysts

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has received a consensus recommendation of “Moderate Buy” from the twenty research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $31.2105.

A number of research firms recently weighed in on ACAD. Citizens Jmp increased their price objective on shares of ACADIA Pharmaceuticals from $34.00 to $35.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 26th. Wall Street Zen lowered ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Mizuho raised ACADIA Pharmaceuticals from a “neutral” rating to an “outperform” rating and upped their target price for the company from $29.00 to $35.00 in a research note on Monday, February 23rd. Bank of America upgraded ACADIA Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $29.00 price target on the stock in a report on Wednesday. Finally, TD Cowen raised their price target on ACADIA Pharmaceuticals from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th.

Insiders Place Their Bets

In other news, EVP Jennifer J. Rhodes sold 6,950 shares of ACADIA Pharmaceuticals 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 sale, the executive vice president directly owned 7,609 shares in the company, valued at approximately $177,898.42. This trade represents a 47.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 26.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. lifted its holdings in ACADIA Pharmaceuticals by 7.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,113,040 shares of the biopharmaceutical company’s stock valued at $29,729,000 after buying an additional 76,727 shares in the last quarter. Invesco Ltd. boosted its position in ACADIA Pharmaceuticals by 14.5% in the 4th quarter. Invesco Ltd. now owns 847,961 shares of the biopharmaceutical company’s stock valued at $22,649,000 after buying an additional 107,386 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in ACADIA Pharmaceuticals in the 4th quarter worth about $257,000. Mackenzie Financial Corp increased its position in shares of ACADIA Pharmaceuticals by 7.3% during the fourth quarter. Mackenzie Financial Corp now owns 57,274 shares of the biopharmaceutical company’s stock worth $1,526,000 after acquiring an additional 3,917 shares during the period. Finally, Virtus Investment Advisers LLC increased its position in shares of ACADIA Pharmaceuticals by 23.1% during the fourth quarter. Virtus Investment Advisers LLC now owns 25,170 shares of the biopharmaceutical company’s stock worth $672,000 after acquiring an additional 4,729 shares during the period. Hedge funds and other institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Stock Down 3.4%

ACAD stock opened at $20.75 on Friday. ACADIA Pharmaceuticals has a twelve month low of $13.40 and a twelve month high of $28.35. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 9.06, a price-to-earnings-growth ratio of 21.35 and a beta of 0.66. The firm’s fifty day simple moving average is $23.39 and its two-hundred day simple moving average is $23.91.

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

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.