ACADIA Pharmaceuticals (NASDAQ:ACAD) PT Lowered to $21.00 at Stifel Nicolaus

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price target reduced by analysts at Stifel Nicolaus from $26.00 to $21.00 in a report released on Thursday, Benzinga reports. The firm currently has a “hold” rating on the biopharmaceutical company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 31.91% from the stock’s current price.

ACAD has been the topic of a number of other reports. JPMorgan Chase & Co. cut their target price on ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday, March 25th. JMP Securities reaffirmed a “market outperform” rating and set a $42.00 price target on shares of ACADIA Pharmaceuticals in a report on Wednesday, February 7th. StockNews.com raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, January 30th. TheStreet raised ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a report on Tuesday, February 27th. Finally, Royal Bank of Canada lowered their price target on ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.25.

ACADIA Pharmaceuticals Trading Down 7.1 %

ACAD stock traded down $1.21 during midday trading on Thursday, hitting $15.92. The company had a trading volume of 595,703 shares, compared to its average volume of 1,731,391. ACADIA Pharmaceuticals has a 52 week low of $15.68 and a 52 week high of $33.99. The stock’s 50 day moving average price is $18.66 and its 200 day moving average price is $23.21. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of -42.24 and a beta of 0.42.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Wednesday, May 8th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.06. The firm had revenue of $205.83 million for the quarter, compared to analysts’ expectations of $208.31 million. ACADIA Pharmaceuticals had a negative return on equity of 15.67% and a negative net margin of 8.44%. The business’s revenue was up 73.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.27) earnings per share. Analysts predict that ACADIA Pharmaceuticals will post 0.62 earnings per share for the current year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, CFO Mark C. Schneyer sold 3,503 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total transaction of $59,340.82. Following the completion of the transaction, the chief financial officer now owns 32,053 shares in the company, valued at approximately $542,977.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Mark C. Schneyer sold 3,503 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total value of $59,340.82. Following the completion of the transaction, the chief financial officer now owns 32,053 shares in the company, valued at approximately $542,977.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Stephen Davis sold 5,577 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $24.67, for a total value of $137,584.59. Following the completion of the transaction, the chief executive officer now owns 101,890 shares of the company’s stock, valued at approximately $2,513,626.30. The disclosure for this sale can be found here. Insiders sold 89,116 shares of company stock worth $1,625,639 in the last quarter. 27.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of ACAD. Quest Partners LLC purchased a new position in ACADIA Pharmaceuticals during the 4th quarter valued at $39,000. Headlands Technologies LLC purchased a new position in ACADIA Pharmaceuticals during the 1st quarter valued at $48,000. China Universal Asset Management Co. Ltd. boosted its holdings in ACADIA Pharmaceuticals by 97.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,202 shares of the biopharmaceutical company’s stock valued at $88,000 after acquiring an additional 2,070 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in ACADIA Pharmaceuticals during the 4th quarter valued at $100,000. Finally, Acadian Asset Management LLC purchased a new position in ACADIA Pharmaceuticals during the 3rd quarter valued at $184,000. Hedge funds and other institutional investors own 96.71% of the company’s stock.

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.