ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have received an average recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $31.6250.

Several equities research analysts have issued reports on the company. Wolfe Research assumed coverage on ACADIA Pharmaceuticals in a report on Monday, February 23rd. They set an “outperform” rating and a $33.00 price objective on the stock. Citigroup dropped their price objective on ACADIA Pharmaceuticals from $33.00 to $32.00 and set a “buy” rating on the stock in a report on Friday, May 8th. JPMorgan Chase & Co. lifted their price objective on ACADIA Pharmaceuticals from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, March 4th. Mizuho upgraded ACADIA Pharmaceuticals from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $29.00 to $35.00 in a report on Monday, February 23rd. Finally, Bank of America upgraded ACADIA Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Wednesday, March 25th.

Insider Activity at ACADIA Pharmaceuticals

In other news, insider James Kihara sold 5,401 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $21.18, for a total value of $114,393.18. Following the completion of the transaction, the insider owned 24,509 shares in the company, valued at approximately $519,100.62. This trade represents a 18.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark C. Schneyer sold 3,506 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $21.79, for a total value of $76,395.74. Following the completion of the transaction, the executive vice president owned 66,145 shares of the company’s stock, valued at approximately $1,441,299.55. The trade was a 5.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,978 shares of company stock worth $302,819 over the last 90 days. 26.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

ACADIA Pharmaceuticals Stock Down 2.7%

ACAD stock opened at $21.25 on Thursday. ACADIA Pharmaceuticals has a 52-week low of $19.69 and a 52-week high of $28.35. The stock’s 50 day moving average is $21.80 and its two-hundred day moving average is $23.70. The company has a market capitalization of $3.64 billion, a PE ratio of 9.66, a P/E/G ratio of 27.42 and a beta of 0.83.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). ACADIA Pharmaceuticals had a return on equity of 9.61% and a net margin of 34.30%.The business had revenue of $268.10 million for the quarter, compared to analysts’ expectations of $280.25 million. During the same quarter in the prior year, the firm earned $0.11 earnings per share. ACADIA Pharmaceuticals’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that ACADIA Pharmaceuticals will post 0.37 EPS for the current 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.