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

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have been given a consensus rating of “Moderate Buy” by the seventeen brokerages that are currently covering the company, Marketbeat.com reports. Eight research 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 analysts that have updated their coverage on the stock in the last year is $24.00.

Several analysts have issued reports on ACAD shares. Deutsche Bank Aktiengesellschaft started coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a “hold” rating and a $22.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. StockNews.com lowered shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. HC Wainwright reissued a “buy” rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Finally, Guggenheim lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $23.00 to $20.00 in a research report on Friday, January 3rd.

ACADIA Pharmaceuticals Stock Down 2.4 %

Shares of ACAD stock opened at $19.01 on Friday. The company’s fifty day simple moving average is $18.28 and its 200-day simple moving average is $16.78. The firm has a market cap of $3.16 billion, a PE ratio of 24.37 and a beta of 0.37. ACADIA Pharmaceuticals has a 12 month low of $14.15 and a 12 month high of $26.56.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in ACADIA Pharmaceuticals by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 13,947,640 shares of the biopharmaceutical company’s stock worth $255,939,000 after buying an additional 104,444 shares in the last quarter. State Street Corp grew its stake in 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 buying an additional 173,084 shares in the last quarter. Fred Alger Management LLC grew its stake in ACADIA Pharmaceuticals by 17.8% during the third quarter. Fred Alger Management LLC now owns 3,186,389 shares of the biopharmaceutical company’s stock worth $49,007,000 after buying an additional 481,950 shares in the last quarter. 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 buying an additional 30,826 shares in the last quarter. 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 buying an additional 574,251 shares in the last quarter. 96.71% of the stock is currently 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.