Analysts Set ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) PT at $24.00

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

A number of research analysts have recently commented on the stock. Morgan Stanley restated an “equal weight” rating and set a $20.00 price target on shares of ACADIA Pharmaceuticals in a research report on Friday, March 7th. StockNews.com raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. HC Wainwright reiterated a “buy” rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Cantor Fitzgerald restated an “overweight” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ ACAD opened at $17.23 on Tuesday. ACADIA Pharmaceuticals has a fifty-two week low of $14.15 and a fifty-two week high of $20.68. The stock has a market cap of $2.87 billion, a PE ratio of 22.09 and a beta of 0.43. The stock has a fifty day moving average of $18.36 and a 200-day moving average of $17.02.

Insider Transactions at ACADIA Pharmaceuticals

In other news, Director Elizabeth A. Garofalo sold 4,919 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total value of $89,673.37. Following the completion of the transaction, the director now owns 17,595 shares in the company, valued at $320,756.85. The trade was a 21.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 6,167 shares of company stock worth $114,583. Corporate insiders own 28.30% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Large investors have recently bought and sold shares of the business. Virtus Fund Advisers LLC bought a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter worth approximately $39,000. R Squared Ltd purchased a new stake in ACADIA Pharmaceuticals in the fourth quarter worth approximately $47,000. GF Fund Management CO. LTD. purchased a new stake in ACADIA Pharmaceuticals in the fourth quarter worth approximately $64,000. Quest Partners LLC grew its position in ACADIA Pharmaceuticals by 42.3% in the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 1,047 shares during the period. Finally, KBC Group NV raised its stake in ACADIA Pharmaceuticals by 67.0% during the 4th quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock valued at $93,000 after buying an additional 2,044 shares during the last quarter. 96.71% of the stock is currently owned by 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.