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

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

A number of other brokerages have also recently issued reports on ACAD. Mizuho dropped their target price on shares of ACADIA Pharmaceuticals from $25.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday. JMP Securities reaffirmed a “market outperform” rating and issued a $42.00 target price on shares of ACADIA Pharmaceuticals in a report on Wednesday, February 7th. Morgan Stanley dropped their target price on shares of ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, March 13th. Royal Bank of Canada dropped their target price on shares of ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Finally, TheStreet raised shares of ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a report on Tuesday, February 27th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.25.

ACADIA Pharmaceuticals Stock Performance

NASDAQ:ACAD traded down $1.21 during mid-day trading on Thursday, reaching $15.92. The stock had a trading volume of 595,703 shares, compared to its average volume of 1,731,391. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of -42.24 and a beta of 0.42. ACADIA Pharmaceuticals has a twelve month low of $15.68 and a twelve month high of $33.99. The business has a 50 day simple moving average of $18.66 and a 200 day simple moving average of $23.21.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.06. The firm had revenue of $205.83 million during the quarter, compared to the consensus estimate of $208.31 million. ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The firm’s revenue was up 73.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.27) earnings per share. As a group, sell-side analysts expect that ACADIA Pharmaceuticals will post 0.62 earnings per share for the current year.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 5,577 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, February 26th. The shares were sold at an average price of $24.67, for a total value of $137,584.59. Following the transaction, the chief executive officer now owns 101,890 shares in the company, valued at approximately $2,513,626.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 5,577 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, February 26th. The shares were sold at an average price of $24.67, for a total value of $137,584.59. Following the transaction, the chief executive officer now owns 101,890 shares in the company, valued at approximately $2,513,626.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Mark C. Schneyer sold 3,503 shares of ACADIA Pharmaceuticals stock in a transaction on Thursday, May 2nd. The shares were 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,116 shares of company stock worth $1,625,639. 27.50% of the stock is owned by insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quest Partners LLC acquired a new position in shares of ACADIA Pharmaceuticals during the 4th quarter valued at $39,000. Headlands Technologies LLC acquired a new position in shares of ACADIA Pharmaceuticals during the 1st quarter valued at $48,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of ACADIA Pharmaceuticals during the 4th quarter valued at $100,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of 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 in the last quarter. Finally, Legato Capital Management LLC acquired a new position in shares of ACADIA Pharmaceuticals during the 4th quarter valued at $206,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

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.