ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) had its target price cut by equities research analysts at Royal Bank Of Canada from $37.00 to $36.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the biopharmaceutical company’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 84.80% from the stock’s current price.
A number of other equities research analysts also recently weighed in on ACAD. Bank of America reaffirmed a “buy” rating and issued a $14.50 target price on shares of ACADIA Pharmaceuticals in a report on Wednesday, July 29th. Citizens Jmp dropped their price objective on ACADIA Pharmaceuticals from $36.00 to $33.00 and set a “market outperform” rating for the company in a research report on Friday, September 25th. Citigroup reaffirmed a “buy” rating and issued a $33.00 price objective (down from $40.00) on shares of ACADIA Pharmaceuticals in a research note on Friday, September 25th. Deutsche Bank Aktiengesellschaft lowered their target price on ACADIA Pharmaceuticals from $38.00 to $31.00 and set a “buy” rating for the company in a research note on Friday, September 25th. Finally, TD Cowen reissued a “buy” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, September 24th. Fourteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.71.
View Our Latest Stock Analysis on ACAD
ACADIA Pharmaceuticals Stock Performance
ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.11. ACADIA Pharmaceuticals had a net margin of 33.42% and a return on equity of 9.03%. The business had revenue of $308.00 million for the quarter, compared to analysts’ expectations of $296.55 million. During the same period last year, the firm posted $0.16 earnings per share. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. On average, equities research analysts expect that ACADIA Pharmaceuticals will post 0.64 EPS for the current fiscal year.
Insider Transactions at ACADIA Pharmaceuticals
In other news, EVP Mark C. Schneyer sold 14,292 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $29.22, for a total transaction of $417,612.24. Following the sale, the executive vice president directly owned 67,828 shares in the company, valued at approximately $1,981,934.16. The trade was a 17.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Elizabeth Thompson sold 16,558 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $26.13, for a total transaction of $432,660.54. Following the completion of the transaction, the executive vice president owned 18,994 shares of the company’s stock, valued at approximately $496,313.22. This trade represents a 46.57% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 36,699 shares of company stock valued at $1,019,894. Insiders own 26.20% of the company’s stock.
Hedge Funds Weigh In On ACADIA Pharmaceuticals
Several large investors have recently modified their holdings of ACAD. Nykredit A S acquired a new stake in ACADIA Pharmaceuticals in the second quarter valued at $38,000. Integrated Wealth Concepts LLC bought a new stake in shares of ACADIA Pharmaceuticals in the 2nd quarter valued at about $50,000. Global Retirement Partners LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the second quarter valued at about $64,000. GAMMA Investing LLC raised its holdings in ACADIA Pharmaceuticals by 15.6% during the 2nd quarter. GAMMA Investing LLC now owns 2,985 shares of the biopharmaceutical company’s stock worth $76,000 after purchasing an additional 402 shares during the last quarter. Finally, Transamerica Financial Advisors LLC acquired a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter worth approximately $104,000. Institutional investors own 96.71% of the company’s stock.
ACADIA Pharmaceuticals Company Profile
ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system disorders and rare diseases. The company is headquartered in San Diego, California, and serves patients and healthcare providers primarily in the United States.
ACADIA’s commercial products include NUPLAZID (pimavanserin), an atypical antipsychotic approved in the United States for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis.
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