ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Receives $24.00 Consensus PT from Analysts

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report) have earned an average recommendation of "Moderate Buy" from the seventeen analysts that are presently covering the company, MarketBeat reports. Eight investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $24.00.

Several research analysts have issued reports on ACAD shares. Deutsche Bank Aktiengesellschaft initiated coverage on ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They set a "hold" rating and a $22.00 price objective on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. HC Wainwright reissued a "buy" rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. StockNews.com raised shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. Finally, Guggenheim downgraded shares of ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $23.00 to $20.00 in a research note on Friday, January 3rd.

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ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ ACAD traded down $0.37 during trading on Tuesday, reaching $16.81. The company had a trading volume of 811,004 shares, compared to its average volume of 1,760,111. ACADIA Pharmaceuticals has a 52 week low of $14.15 and a 52 week high of $20.68. The business's 50 day moving average price is $18.38 and its 200-day moving average price is $17.00. The stock has a market cap of $2.80 billion, a PE ratio of 21.84 and a beta of 0.43.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 4,919 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total transaction of $89,673.37. Following the transaction, the director now owns 17,595 shares of the company's stock, valued at $320,756.85. The trade was a 21.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 6,167 shares of company stock worth $114,583 over the last quarter. 28.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Point72 Asset Management L.P. bought a new position in ACADIA Pharmaceuticals during the fourth quarter worth $40,935,000. SG Americas Securities LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 380.3% during the fourth quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company's stock worth $45,576,000 after acquiring an additional 1,966,607 shares during the period. Norges Bank acquired a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $25,555,000. Renaissance Technologies LLC increased its stake in shares of ACADIA Pharmaceuticals by 204.2% during the fourth quarter. Renaissance Technologies LLC now owns 1,226,533 shares of the biopharmaceutical company's stock worth $22,507,000 after purchasing an additional 823,333 shares during the period. Finally, Two Sigma Advisers LP lifted its holdings in ACADIA Pharmaceuticals by 160.8% during the 4th quarter. Two Sigma Advisers LP now owns 1,263,200 shares of the biopharmaceutical company's stock worth $23,180,000 after purchasing an additional 778,900 shares during the last quarter. 96.71% of the stock is owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Company Profile

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.