Brokerages Set ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Price Target at $23.93

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has been given a consensus recommendation of “Moderate Buy” by the sixteen brokerages that are covering the firm, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $23.93.

Several research analysts have commented on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. HC Wainwright reissued a “buy” rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $20.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Friday, March 7th. Needham & Company LLC reissued a “buy” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research note on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They issued a “hold” rating and a $22.00 price target on the stock.

ACADIA Pharmaceuticals Trading Up 1.1 %

Shares of NASDAQ:ACAD opened at $14.73 on Friday. The firm has a 50 day moving average of $17.16 and a 200-day moving average of $16.93. ACADIA Pharmaceuticals has a 12 month low of $13.40 and a 12 month high of $20.68. The stock has a market capitalization of $2.46 billion, a PE ratio of 18.88 and a beta of 0.54.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 4,919 shares of the company’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 owns 17,595 shares in the company, valued at approximately $320,756.85. The trade was a 21.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mark C. Schneyer sold 2,708 shares of the firm’s stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $14.82, for a total value of $40,132.56. Following the transaction, the executive vice president now owns 59,456 shares of the company’s stock, valued at $881,137.92. This trade represents a 4.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,169 shares of company stock worth $242,686 over the last three months. Company insiders own 28.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in ACADIA Pharmaceuticals by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 13,947,640 shares of the biopharmaceutical company’s stock valued at $255,939,000 after buying an additional 104,444 shares during the period. State Street Corp lifted its stake in shares of ACADIA Pharmaceuticals by 3.0% in the 3rd quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company’s stock valued at $91,878,000 after purchasing an additional 173,084 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of ACADIA Pharmaceuticals during the 1st quarter valued at about $60,845,000. Geode Capital Management LLC grew its stake in ACADIA Pharmaceuticals by 1.1% during the third 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 during the period. Finally, First Trust Advisors LP grew its stake in ACADIA Pharmaceuticals by 27.0% during the fourth quarter. First Trust Advisors LP now owns 2,700,125 shares of the biopharmaceutical company’s stock worth $49,547,000 after purchasing an additional 574,251 shares during the period. Institutional investors and hedge funds own 96.71% of the company’s stock.

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.