ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Receives $24.00 Average Target Price from Analysts

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has earned an average recommendation of “Moderate Buy” from the seventeen research firms that are presently covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $24.00.

ACAD has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft began coverage on ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They issued a “hold” rating and a $22.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday. StockNews.com downgraded ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. HC Wainwright restated a “buy” rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday. Finally, Guggenheim lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their price target for the company from $23.00 to $20.00 in a report on Friday, January 3rd.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of hedge funds have recently modified their holdings of the business. SG Americas Securities LLC lifted its holdings in ACADIA Pharmaceuticals by 380.3% during the 4th quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company’s stock worth $45,576,000 after buying an additional 1,966,607 shares during the period. Barclays PLC raised its position in shares of ACADIA Pharmaceuticals by 126.2% during the third quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company’s stock worth $4,269,000 after acquiring an additional 154,854 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of ACADIA Pharmaceuticals in the third quarter worth approximately $483,000. Burney Co. bought a new stake in ACADIA Pharmaceuticals in the fourth quarter valued at approximately $6,953,000. Finally, BNP Paribas Financial Markets boosted its holdings in ACADIA Pharmaceuticals by 259.0% in the third quarter. BNP Paribas Financial Markets now owns 223,618 shares of the biopharmaceutical company’s stock valued at $3,439,000 after acquiring an additional 161,331 shares during the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Trading Up 1.8 %

NASDAQ ACAD opened at $19.34 on Friday. The firm’s 50 day simple moving average is $18.37 and its 200 day simple moving average is $16.81. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 24.79 and a beta of 0.37. ACADIA Pharmaceuticals has a 1 year low of $14.15 and a 1 year high of $25.20.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization innovative medicines that address unmet medical needs in central nervous system (CNS) disorders and rare diseases in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for treatment of Rett Syndrome.