ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Receives Consensus Recommendation of “Hold” from Analysts

Posted by on Sep 15th, 2023

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Get Free Report) have earned an average recommendation of “Hold” from the thirteen brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $31.81.

A number of equities analysts have commented on ACAD shares. Bank of America lifted their target price on shares of ACADIA Pharmaceuticals from $26.00 to $29.00 in a research note on Thursday, June 15th. HC Wainwright reaffirmed a “buy” rating and set a $33.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 3rd. Royal Bank of Canada lifted their target price on shares of ACADIA Pharmaceuticals from $28.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, July 14th. JMP Securities boosted their price target on shares of ACADIA Pharmaceuticals from $31.00 to $39.00 and gave the company a “market outperform” rating in a research note on Friday, July 14th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $42.00 price target on shares of ACADIA Pharmaceuticals in a research note on Tuesday, August 22nd.

Get Our Latest Stock Report on ACAD

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, CFO Mark C. Schneyer sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $29.00, for a total transaction of $290,000.00. Following the completion of the transaction, the chief financial officer now owns 15,682 shares in the company, valued at approximately $454,778. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 16,498 shares of the business’s stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $25.00, for a total transaction of $412,450.00. Following the completion of the transaction, the chief executive officer now owns 91,799 shares in the company, valued at approximately $2,294,975. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark C. Schneyer sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $29.00, for a total transaction of $290,000.00. Following the transaction, the chief financial officer now owns 15,682 shares of the company’s stock, valued at approximately $454,778. The disclosure for this sale can be found here. Insiders sold 126,498 shares of company stock worth $3,706,450 in the last 90 days. Corporate insiders own 27.50% of the company’s stock.

Institutional Trading of ACADIA Pharmaceuticals

Several institutional investors have recently modified their holdings of ACAD. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of ACADIA Pharmaceuticals during the 1st quarter worth approximately $572,000. HighTower Advisors LLC purchased a new stake in shares of ACADIA Pharmaceuticals during the 1st quarter worth approximately $1,077,000. MetLife Investment Management LLC lifted its position in shares of ACADIA Pharmaceuticals by 54.0% during the 1st quarter. MetLife Investment Management LLC now owns 66,351 shares of the biopharmaceutical company’s stock worth $1,607,000 after buying an additional 23,265 shares during the last quarter. Rhumbline Advisers lifted its position in shares of ACADIA Pharmaceuticals by 3.9% during the 1st quarter. Rhumbline Advisers now owns 133,444 shares of the biopharmaceutical company’s stock worth $3,232,000 after buying an additional 5,011 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in ACADIA Pharmaceuticals in the 1st quarter valued at $1,380,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

ACADIA Pharmaceuticals Trading Down 0.2 %

NASDAQ:ACAD opened at $25.85 on Friday. The company’s 50-day moving average price is $28.15 and its 200-day moving average price is $23.90. The company has a market cap of $4.23 billion, a P/E ratio of -37.46 and a beta of 0.57. ACADIA Pharmaceuticals has a twelve month low of $13.73 and a twelve month high of $33.99.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) last issued its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.13. ACADIA Pharmaceuticals had a negative net margin of 20.11% and a negative return on equity of 27.77%. The company had revenue of $165.20 million for the quarter, compared to the consensus estimate of $163.86 million. During the same period in the previous year, the firm earned ($0.21) earnings per share. ACADIA Pharmaceuticals’s quarterly revenue was up 22.7% compared to the same quarter last year. On average, analysts expect that ACADIA Pharmaceuticals will post -0.41 earnings per share for the current year.

ACADIA Pharmaceuticals Company Profile

(Get Free Report

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. It offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.

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Analyst Recommendations for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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