Analysts Set ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Target Price at $32.59

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have earned a consensus recommendation of “Moderate Buy” from the seventeen analysts that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $32.9412.

Several research analysts have commented on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a report on Monday, June 29th. HC Wainwright downgraded ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Royal Bank Of Canada raised their price target on ACADIA Pharmaceuticals from $29.00 to $36.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Weiss Ratings lowered shares of ACADIA Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Finally, Canaccord Genuity Group increased their target price on shares of ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, June 29th.

Insider Buying and Selling

In related news, EVP Mark C. Schneyer sold 3,506 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $21.79, for a total transaction of $76,395.74. Following the transaction, the executive vice president directly owned 66,145 shares of the company’s stock, valued at $1,441,299.55. This trade represents a 5.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider James Kihara sold 5,401 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $21.18, for a total transaction of $114,393.18. Following the completion of the transaction, the insider directly owned 24,509 shares of the company’s stock, valued at $519,100.62. This trade represents a 18.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 10,239 shares of company stock worth $219,813. Insiders own 26.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Braidwell LP bought a new stake in ACADIA Pharmaceuticals during the third quarter valued at about $50,760,000. Norges Bank bought a new position in ACADIA Pharmaceuticals in the fourth quarter worth about $40,266,000. Millennium Management LLC raised its holdings in ACADIA Pharmaceuticals by 2,052.1% in the third quarter. Millennium Management LLC now owns 1,483,235 shares of the biopharmaceutical company’s stock worth $31,652,000 after purchasing an additional 1,414,315 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of ACADIA Pharmaceuticals by 390.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,648,864 shares of the biopharmaceutical company’s stock valued at $35,187,000 after buying an additional 1,312,426 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of ACADIA Pharmaceuticals by 47.3% during the first quarter. First Trust Advisors LP now owns 3,343,868 shares of the biopharmaceutical company’s stock valued at $74,435,000 after buying an additional 1,073,834 shares during the last quarter. 96.71% of the stock is owned by institutional investors.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD stock opened at $26.22 on Monday. The company has a market capitalization of $4.49 billion, a P/E ratio of 11.92, a P/E/G ratio of 18.89 and a beta of 0.80. The company’s 50-day simple moving average is $22.57 and its two-hundred day simple moving average is $23.36. ACADIA Pharmaceuticals has a one year low of $19.69 and a one year high of $28.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The company had revenue of $268.10 million for the quarter, compared to analysts’ expectations of $280.25 million. ACADIA Pharmaceuticals had a return on equity of 9.61% and a net margin of 34.30%.The business’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the business posted $0.11 earnings per share. On average, research analysts expect that ACADIA Pharmaceuticals will post 0.37 EPS for the current fiscal 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.