Stifel Nicolaus Boosts ACADIA Pharmaceuticals (NASDAQ:ACAD) Price Target to $25.00

Key Points

• Stifel Nicolaus raised its price target on ACADIA Pharmaceuticals to $25 from $24, while keeping a hold rating on the stock.
• Broader analyst sentiment remains constructive: ACAD now has a Moderate Buy consensus with a $33 average target, even as some firms have recently mixed in upgrades, downgrades, and higher targets.
• The stock was trading around $25.09 and fell about 2% on the day; the company also recently reported EPS of $0.02, below expectations, despite 9.7% revenue growth year over year.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) had its price target increased by equities research analysts at Stifel Nicolaus from $24.00 to $25.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a "hold" rating on the biopharmaceutical company's stock. Stifel Nicolaus' target price would suggest a potential downside of 0.36% from the stock's current price.

Several other equities research analysts have also issued reports on ACAD. HC Wainwright lowered shares of ACADIA Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Tuesday, June 30th. Canaccord Genuity Group increased their target price on shares of ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the stock a "buy" rating in a research report on Monday, June 29th. Royal Bank Of Canada raised their target price on ACADIA Pharmaceuticals from $29.00 to $36.00 and gave the company an "outperform" rating in a report on Tuesday, July 7th. Weiss Ratings cut ACADIA Pharmaceuticals from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, May 1st. Finally, Citigroup upped their price target on ACADIA Pharmaceuticals from $32.00 to $35.00 and gave the stock a "buy" rating in a research note on Monday, June 29th. Twelve investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.00.

ACADIA Pharmaceuticals Trading Down 2.0%

NASDAQ ACAD opened at $25.09 on Tuesday. ACADIA Pharmaceuticals has a 1-year low of $19.69 and a 1-year high of $28.35. The company has a market capitalization of $4.30 billion, a PE ratio of 11.40, a price-to-earnings-growth ratio of 18.44 and a beta of 0.80. The firm's fifty day simple moving average is $22.98 and its 200-day simple moving average is $23.28.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). The business had revenue of $268.10 million for the quarter, compared to the consensus estimate of $280.25 million. ACADIA Pharmaceuticals had a net margin of 34.30% and a return on equity of 9.61%. ACADIA Pharmaceuticals's revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.11 EPS. As a group, analysts predict that ACADIA Pharmaceuticals will post 0.37 EPS for the current year.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 3,506 shares of the company's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $21.79, for a total transaction of $76,395.74. Following the completion of the sale, the executive vice president directly owned 66,145 shares in the company, valued at $1,441,299.55. This represents a 5.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James Kihara sold 5,401 shares of the firm's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $21.18, for a total value of $114,393.18. Following the completion of the sale, the insider directly owned 24,509 shares in the company, valued at approximately $519,100.62. This represents a 18.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 10,239 shares of company stock valued at $219,813. Company insiders own 26.20% of the company's stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Several hedge funds have recently modified their holdings of ACAD. Allspring Global Investments Holdings LLC boosted its stake in shares of ACADIA Pharmaceuticals by 25.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 658,813 shares of the biopharmaceutical company's stock valued at $17,320,000 after purchasing an additional 133,393 shares in the last quarter. Norges Bank acquired a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter worth about $40,266,000. Jupiter Asset Management Ltd. increased its position in shares of ACADIA Pharmaceuticals by 30.4% during the 4th quarter. Jupiter Asset Management Ltd. now owns 621,049 shares of the biopharmaceutical company's stock worth $16,588,000 after purchasing an additional 144,732 shares in the last quarter. Geode Capital Management LLC lifted its holdings in ACADIA Pharmaceuticals by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 3,239,451 shares of the biopharmaceutical company's stock valued at $86,539,000 after purchasing an additional 106,807 shares during the last quarter. Finally, UBS Group AG lifted its holdings in ACADIA Pharmaceuticals by 15.7% during the 4th quarter. UBS Group AG now owns 769,392 shares of the biopharmaceutical company's stock valued at $20,550,000 after purchasing an additional 104,546 shares during the last quarter. 96.71% of the stock is owned by institutional investors.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA's research centers concentrate on conditions with significant unmet medical needs, including Parkinson's disease psychosis, Alzheimer's disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company's flagship product, NUPLAZID® (pimavanserin), received U.S.

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