Mizuho Issues Positive Forecast for ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Price

Key Points

• Mizuho raised its target price for **ACADIA Pharmaceuticals** from **$23.00 to $24.00**, maintaining a "neutral" rating, which implies a potential downside of **1.96%** from the current stock price.
• ACADIA Pharmaceuticals reported **$0.16 earnings per share** for its last quarter, exceeding analyst estimates and reflecting a **9.4% year-over-year revenue growth**.
• Currently, the company has a consensus rating of **"Moderate Buy"** from analysts, with a target price averaging **$28.25** among various institutions.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) had its target price increased by Mizuho from $23.00 to $24.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the biopharmaceutical company's stock. Mizuho's price target suggests a potential downside of 1.96% from the stock's current price.

ACAD has been the subject of several other research reports. Citigroup restated an "outperform" rating on shares of ACADIA Pharmaceuticals in a research report on Thursday. Needham & Company LLC reiterated a "buy" rating and set a $30.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, June 26th. Royal Bank Of Canada boosted their price target on shares of ACADIA Pharmaceuticals from $26.00 to $38.00 and gave the company an "outperform" rating in a research report on Monday, June 23rd. HC Wainwright reissued a "buy" rating and set a $32.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, June 26th. Finally, UBS Group lowered their target price on shares of ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, ACADIA Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.25.

ACADIA Pharmaceuticals Stock Up 2.9%

ACAD opened at $24.48 on Thursday. The firm has a market cap of $4.10 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 6.60 and a beta of 0.70. ACADIA Pharmaceuticals has a fifty-two week low of $13.40 and a fifty-two week high of $25.23. The company's 50-day moving average price is $22.28 and its 200 day moving average price is $19.17.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. ACADIA Pharmaceuticals had a net margin of 22.97% and a return on equity of 17.46%. The firm had revenue of $264.57 million for the quarter, compared to analyst estimates of $263.07 million. During the same quarter in the prior year, the business earned $0.20 earnings per share. ACADIA Pharmaceuticals's quarterly revenue was up 9.4% on a year-over-year basis. Research analysts anticipate that ACADIA Pharmaceuticals will post 0.7 earnings per share for the current year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, EVP Mark C. Schneyer sold 2,000 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $25.00, for a total value of $50,000.00. Following the transaction, the executive vice president directly owned 62,130 shares in the company, valued at approximately $1,553,250. This represents a 3.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Laura Brege sold 14,446 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $21.78, for a total transaction of $314,633.88. Following the completion of the transaction, the director owned 15,095 shares in the company, valued at approximately $328,769.10. This trade represents a 48.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,446 shares of company stock valued at $454,634 over the last three months. 26.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its stake in shares of ACADIA Pharmaceuticals by 61.7% during the fourth quarter. JPMorgan Chase & Co. now owns 713,360 shares of the biopharmaceutical company's stock valued at $13,090,000 after purchasing an additional 272,236 shares during the period. ExodusPoint Capital Management LP lifted its stake in ACADIA Pharmaceuticals by 20.2% in the fourth quarter. ExodusPoint Capital Management LP now owns 70,786 shares of the biopharmaceutical company's stock worth $1,299,000 after acquiring an additional 11,885 shares during the period. Wells Fargo & Company MN lifted its stake in ACADIA Pharmaceuticals by 7.7% in the fourth quarter. Wells Fargo & Company MN now owns 202,349 shares of the biopharmaceutical company's stock worth $3,713,000 after acquiring an additional 14,447 shares during the period. Aviva PLC purchased a new stake in ACADIA Pharmaceuticals in the fourth quarter worth $658,000. Finally, Cerity Partners LLC lifted its stake in ACADIA Pharmaceuticals by 43.2% in the fourth quarter. Cerity Partners LLC now owns 20,459 shares of the biopharmaceutical company's stock worth $349,000 after acquiring an additional 6,173 shares during the period. 96.71% of the stock is currently owned by institutional investors.

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.

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