ACADIA Pharmaceuticals (NASDAQ:ACAD) PT Lowered to $22.00

ACADIA Pharmaceuticals (NASDAQ:ACAD - Free Report) had its target price cut by Bank of America from $26.00 to $22.00 in a research note released on Friday, Marketbeat reports. They currently have a neutral rating on the biopharmaceutical company's stock.

A number of other brokerages have also recently weighed in on ACAD. JPMorgan Chase & Co. dropped their price target on ACADIA Pharmaceuticals from $29.00 to $25.00 and set an overweight rating on the stock in a research note on Monday, March 25th. Stifel Nicolaus dropped their price target on ACADIA Pharmaceuticals from $26.00 to $21.00 and set a hold rating on the stock in a research note on Thursday. JMP Securities reissued a market outperform rating and issued a $42.00 price target on shares of ACADIA Pharmaceuticals in a research note on Wednesday, February 7th. Cantor Fitzgerald reaffirmed an overweight rating and set a $37.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday. Finally, Needham & Company LLC reaffirmed a buy rating and set a $30.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $28.94.

ACADIA Pharmaceuticals Stock Up 0.3 %

ACADIA Pharmaceuticals stock traded up $0.04 during midday trading on Friday, hitting $15.25. The company's stock had a trading volume of 2,309,980 shares, compared to its average volume of 1,791,677. The stock's 50-day moving average price is $18.50 and its 200-day moving average price is $23.16. ACADIA Pharmaceuticals has a 12 month low of $15.11 and a 12 month high of $33.99. The company has a market capitalization of $2.52 billion, a PE ratio of -40.13 and a beta of 0.42.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.04 by $0.06. The firm had revenue of $205.83 million for the quarter, compared to analysts' expectations of $208.31 million. ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. ACADIA Pharmaceuticals's revenue for the quarter was up 73.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.27) earnings per share. As a group, equities analysts anticipate that ACADIA Pharmaceuticals will post 0.62 EPS for the current year.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, insider James Kihara sold 1,790 shares of the company's stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $17.87, for a total transaction of $31,987.30. Following the completion of the sale, the insider now owns 13,100 shares of the company's stock, valued at $234,097. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ACADIA Pharmaceuticals news, insider James Kihara sold 1,790 shares of the company's stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $17.87, for a total transaction of $31,987.30. Following the completion of the sale, the insider now owns 13,100 shares of the company's stock, valued at $234,097. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephen Davis sold 5,577 shares of the company's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $24.67, for a total value of $137,584.59. Following the sale, the chief executive officer now directly owns 101,890 shares of the company's stock, valued at approximately $2,513,626.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,116 shares of company stock worth $1,625,639. Insiders own 27.50% of the company's stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Several hedge funds have recently modified their holdings of ACAD. RTW Investments LP boosted its position in shares of ACADIA Pharmaceuticals by 18.3% in the third quarter. RTW Investments LP now owns 11,576,537 shares of the biopharmaceutical company's stock valued at $241,255,000 after acquiring an additional 1,793,288 shares during the period. Norges Bank bought a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $45,187,000. Fred Alger Management LLC boosted its position in shares of ACADIA Pharmaceuticals by 38.7% in the third quarter. Fred Alger Management LLC now owns 3,108,883 shares of the biopharmaceutical company's stock valued at $64,789,000 after acquiring an additional 867,818 shares during the period. Eventide Asset Management LLC bought a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $25,342,000. Finally, M&G Investment Management Ltd. acquired a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at $10,349,000. 96.71% of the stock is owned by institutional investors.

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.