ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) had its price target dropped by analysts at JMP Securities from $42.00 to $35.00 in a research report issued to clients and investors on Tuesday, PriceTargets.com reports. The brokerage currently has a “market outperform” rating on the biopharmaceutical company’s stock. JMP Securities’ price target would indicate a potential upside of 37.74% from the company’s previous close.
A number of other brokerages also recently weighed in on ACAD. HC Wainwright raised shares of ACADIA Pharmaceuticals from a “neutral” rating to a “buy” rating and raised their target price for the company from $18.00 to $36.00 in a research note on Wednesday, February 9th. Citigroup lifted their price target on shares of ACADIA Pharmaceuticals from $30.00 to $32.00 in a research note on Tuesday. Bank of America lifted their price target on shares of ACADIA Pharmaceuticals from $28.00 to $32.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 21st. StockNews.com raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, February 23rd. Finally, The Goldman Sachs Group lifted their price target on shares of ACADIA Pharmaceuticals from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 8th. Twelve equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $29.99.
Shares of ACADIA Pharmaceuticals stock opened at $25.41 on Tuesday. ACADIA Pharmaceuticals has a 12-month low of $15.68 and a 12-month high of $49.91. The company has a market cap of $4.08 billion, a price-to-earnings ratio of -21.18 and a beta of 0.61. The company’s 50-day moving average price is $23.90 and its 200-day moving average price is $20.43.
ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) last announced its quarterly earnings results on Sunday, February 27th. The biopharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03). ACADIA Pharmaceuticals had a negative return on equity of 32.74% and a negative net margin of 40.38%. The firm had revenue of $130.80 million during the quarter, compared to analysts’ expectations of $135.44 million. During the same period in the previous year, the company posted ($0.42) earnings per share. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, equities research analysts expect that ACADIA Pharmaceuticals will post -1.02 EPS for the current year.
In related news, CEO Stephen Davis sold 3,928 shares of the business’s stock in a transaction dated Wednesday, February 23rd. The shares were sold at an average price of $23.80, for a total transaction of $93,486.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Srdjan R. Stankovic sold 1,501 shares of the business’s stock in a transaction dated Wednesday, February 23rd. The stock was sold at an average price of $23.80, for a total transaction of $35,723.80. The disclosure for this sale can be found here. Insiders have sold a total of 7,042 shares of company stock worth $167,600 in the last ninety days. Insiders own 28.50% of the company’s stock.
A number of large investors have recently bought and sold shares of ACAD. Price T Rowe Associates Inc. MD boosted its stake in ACADIA Pharmaceuticals by 22.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 10,198,831 shares of the biopharmaceutical company’s stock worth $248,749,000 after acquiring an additional 1,844,820 shares in the last quarter. Perceptive Advisors LLC bought a new stake in ACADIA Pharmaceuticals during the fourth quarter worth about $36,972,000. Ikarian Capital LLC lifted its stake in shares of ACADIA Pharmaceuticals by 136.7% in the second quarter. Ikarian Capital LLC now owns 209,866 shares of the biopharmaceutical company’s stock worth $5,119,000 after buying an additional 782,158 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of ACADIA Pharmaceuticals by 167.8% in the third quarter. Nordea Investment Management AB now owns 1,231,262 shares of the biopharmaceutical company’s stock worth $20,526,000 after buying an additional 771,450 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of ACADIA Pharmaceuticals by 23.7% in the second quarter. State Street Corp now owns 3,970,611 shares of the biopharmaceutical company’s stock worth $96,843,000 after buying an additional 761,973 shares in the last quarter. 90.74% of the stock is currently owned by institutional investors and hedge funds.
About ACADIA Pharmaceuticals (Get Rating)
ACADIA Pharmaceuticals, Inc operates as a biopharmaceutical company. It focuses on the development and commercialization of medicines to address unmet medical needs in central nervous system, or CNS, disorders. The firm’s products include Nuplazid, which is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis.