ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Given Consensus Rating of “Moderate Buy” by Brokerages

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) has been given an average rating of “Moderate Buy” by the seventeen research firms that are covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $24.00.

A number of analysts recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Morgan Stanley restated an “equal weight” rating and issued a $20.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “hold” rating and a $22.00 price objective for the company.

Insider Activity

In other news, Director Elizabeth A. Garofalo sold 4,919 shares of the firm’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 completion of the transaction, the director now owns 17,595 shares in the company, valued at $320,756.85. This trade represents a 21.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 6,167 shares of company stock worth $114,583 in the last quarter. Corporate insiders own 28.30% of the company’s stock.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. Summit Investment Advisors Inc. lifted its stake in ACADIA Pharmaceuticals by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 12,519 shares of the biopharmaceutical company’s stock valued at $230,000 after purchasing an additional 795 shares during the last quarter. Quest Partners LLC lifted its stake in ACADIA Pharmaceuticals by 42.3% in the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 1,047 shares during the last quarter. Arete Wealth Advisors LLC lifted its stake in ACADIA Pharmaceuticals by 15.9% in the 4th quarter. Arete Wealth Advisors LLC now owns 13,700 shares of the biopharmaceutical company’s stock valued at $251,000 after purchasing an additional 1,875 shares during the last quarter. KBC Group NV lifted its stake in ACADIA Pharmaceuticals by 67.0% in the 4th quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock valued at $93,000 after purchasing an additional 2,044 shares during the last quarter. Finally, Virtus Fund Advisers LLC acquired a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at about $39,000. Institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Stock Down 2.3 %

ACAD opened at $16.79 on Tuesday. ACADIA Pharmaceuticals has a 12 month low of $14.15 and a 12 month high of $20.68. The company has a fifty day simple moving average of $18.37 and a 200 day simple moving average of $17.01. The stock has a market cap of $2.80 billion, a P/E ratio of 21.53 and a beta of 0.43.

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.