ACADIA Pharmaceuticals (NASDAQ:ACAD)'s stock had its "neutral" rating reissued by HC Wainwright in a report issued on Tuesday, Benzinga reports. They currently have a $18.00 target price on the biopharmaceutical company's stock, down from their previous target price of $43.00. HC Wainwright's price objective would indicate a potential downside of 12.79% from the company's current price.
Several other equities analysts have also recently commented on ACAD. Bank of America reiterated a "neutral" rating on shares of ACADIA Pharmaceuticals in a research note on Tuesday, March 16th. Canaccord Genuity lowered shares of ACADIA Pharmaceuticals from a "buy" rating to a "hold" rating and lowered their price target for the company from $40.00 to $26.00 in a report on Tuesday, April 6th. Citigroup reissued a "neutral" rating and issued a $35.00 price target (down previously from $66.00) on shares of ACADIA Pharmaceuticals in a report on Monday, March 15th. TheStreet lowered shares of ACADIA Pharmaceuticals from a "c-" rating to a "d-" rating in a report on Friday. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reissued a "neutral" rating and issued a $35.00 price target (down previously from $66.00) on shares of ACADIA Pharmaceuticals in a report on Monday, March 15th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of "Hold" and a consensus price target of $33.78.
NASDAQ:ACAD traded up $0.21 during trading hours on Tuesday, hitting $20.64. 80,859 shares of the company traded hands, compared to its average volume of 2,175,083. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of -11.99 and a beta of 1.44. ACADIA Pharmaceuticals has a twelve month low of $20.12 and a twelve month high of $58.72. The firm has a 50-day moving average of $32.76 and a 200 day moving average of $45.74.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Tuesday, February 23rd. The biopharmaceutical company reported ($0.42) EPS for the quarter, beating the Thomson Reuters' consensus estimate of ($0.47) by $0.05. The firm had revenue of $121.01 million during the quarter, compared to analysts' expectations of $122.87 million. ACADIA Pharmaceuticals had a negative net margin of 63.92% and a negative return on equity of 40.35%. On average, analysts expect that ACADIA Pharmaceuticals will post -1.84 EPS for the current year.
In related news, CEO Stephen Davis sold 14,195 shares of the company's stock in a transaction dated Thursday, February 4th. The shares were sold at an average price of $50.61, for a total transaction of $718,408.95. Following the transaction, the chief executive officer now owns 43,059 shares in the company, valued at approximately $2,179,215.99. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Srdjan R. Stankovic sold 8,429 shares of the company's stock in a transaction dated Thursday, February 4th. The stock was sold at an average price of $50.61, for a total transaction of $426,591.69. Following the transaction, the president now owns 39,478 shares in the company, valued at approximately $1,997,981.58. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,782 shares of company stock worth $1,355,437. 27.70% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. HighPoint Advisor Group LLC lifted its position in ACADIA Pharmaceuticals by 4.2% during the 1st quarter. HighPoint Advisor Group LLC now owns 14,789 shares of the biopharmaceutical company's stock worth $302,000 after buying an additional 600 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in ACADIA Pharmaceuticals by 3.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 337,147 shares of the biopharmaceutical company's stock valued at $18,025,000 after purchasing an additional 9,930 shares during the period. Norges Bank acquired a new position in ACADIA Pharmaceuticals during the 4th quarter valued at about $58,407,000. WCM Investment Management LLC lifted its position in ACADIA Pharmaceuticals by 0.6% during the 4th quarter. WCM Investment Management LLC now owns 73,534 shares of the biopharmaceutical company's stock valued at $3,931,000 after purchasing an additional 415 shares during the period. Finally, Retirement Group LLC acquired a new position in ACADIA Pharmaceuticals during the 4th quarter valued at about $28,000. Institutional investors and hedge funds own 93.54% of the company's stock.
About ACADIA Pharmaceuticals
ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; Trofinetide, a novel synthetic analog for the treatment of Rett syndrome; ACP-044, a novel first-in-class orally administered non-opioid analgesic for treating acute and chronic pain; and ACP-319, a positive allosteric modulator of the muscarinic receptor for treating cognition and schizophrenia.
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