ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have been assigned a consensus rating of “Moderate Buy” from the sixteen brokerages that are covering the company, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $23.93.

A number of research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They set a “hold” rating and a $22.00 price objective for the company. Morgan Stanley reiterated an “equal weight” rating and set a $20.00 price target on shares of ACADIA Pharmaceuticals in a research note on Friday, March 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Tuesday, April 8th. Finally, StockNews.com raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th.

ACADIA Pharmaceuticals Stock Down 2.8 %

Shares of NASDAQ:ACAD opened at $14.57 on Friday. ACADIA Pharmaceuticals has a twelve month low of $13.40 and a twelve month high of $20.68. The stock’s 50 day moving average is $17.32 and its 200-day moving average is $16.93. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 18.68 and a beta of 0.54.

Insider Activity at ACADIA Pharmaceuticals

In related news, Director Elizabeth A. Garofalo sold 4,919 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total value of $89,673.37. Following the sale, the director now directly owns 17,595 shares in the company, valued at approximately $320,756.85. The trade was a 21.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark C. Schneyer sold 3,171 shares of the stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $17.05, for a total transaction of $54,065.55. Following the transaction, the executive vice president now owns 56,889 shares of the company’s stock, valued at $969,957.45. This represents a 5.28 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,169 shares of company stock worth $242,686. Insiders own 28.30% of the company’s stock.

Institutional Trading of ACADIA Pharmaceuticals

A number of institutional investors have recently modified their holdings of the business. State Street Corp lifted its position in shares of ACADIA Pharmaceuticals by 3.0% during the third quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company’s stock worth $91,878,000 after acquiring an additional 173,084 shares in the last quarter. Barclays PLC raised its stake in shares of ACADIA Pharmaceuticals by 126.2% during the 3rd quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company’s stock valued at $4,269,000 after purchasing an additional 154,854 shares during the period. Geode Capital Management LLC lifted its holdings in ACADIA Pharmaceuticals by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,875,540 shares of the biopharmaceutical company’s stock worth $44,234,000 after purchasing an additional 30,826 shares in the last quarter. Principal Financial Group Inc. boosted its stake in ACADIA Pharmaceuticals by 67.8% in the 3rd quarter. Principal Financial Group Inc. now owns 129,551 shares of the biopharmaceutical company’s stock worth $1,992,000 after purchasing an additional 52,340 shares during the period. Finally, Nordea Investment Management AB grew its holdings in ACADIA Pharmaceuticals by 1.3% during the 4th quarter. Nordea Investment Management AB now owns 264,031 shares of the biopharmaceutical company’s stock valued at $4,952,000 after buying an additional 3,516 shares in the last quarter. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

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.