ACADIA Pharmaceuticals (NASDAQ:ACAD) Price Target Cut to $26.00

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price objective dropped by stock analysts at Royal Bank of Canada from $29.00 to $26.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the biopharmaceutical company’s stock. Royal Bank of Canada’s target price points to a potential upside of 67.96% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Citigroup decreased their price target on shares of ACADIA Pharmaceuticals from $30.19 to $30.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Mizuho decreased their price target on shares of ACADIA Pharmaceuticals from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. Robert W. Baird decreased their price target on shares of ACADIA Pharmaceuticals from $31.00 to $28.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. Oppenheimer restated a “market perform” rating and issued a $19.00 price target on shares of ACADIA Pharmaceuticals in a research report on Monday, May 6th. Finally, Morgan Stanley cut shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $28.00 to $20.00 in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.31.

ACADIA Pharmaceuticals Stock Performance

Shares of ACADIA Pharmaceuticals stock traded down $3.37 during midday trading on Wednesday, hitting $15.48. 3,442,690 shares of the company traded hands, compared to its average volume of 1,784,510. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of -1,548.00 and a beta of 0.38. The firm’s fifty day moving average price is $16.61 and its 200-day moving average price is $19.02. ACADIA Pharmaceuticals has a 12 month low of $14.55 and a 12 month high of $32.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.02. The company had revenue of $241.96 million for the quarter, compared to analyst estimates of $235.95 million. ACADIA Pharmaceuticals had a negative net margin of 0.21% and a negative return on equity of 0.41%. The firm’s revenue was up 46.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.01 EPS. Equities research analysts forecast that ACADIA Pharmaceuticals will post 0.58 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ACAD. DekaBank Deutsche Girozentrale boosted its stake in ACADIA Pharmaceuticals by 2.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 94,553 shares of the biopharmaceutical company’s stock worth $2,925,000 after acquiring an additional 2,184 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of ACADIA Pharmaceuticals by 5.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 85,780 shares of the biopharmaceutical company’s stock valued at $2,686,000 after buying an additional 4,442 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of ACADIA Pharmaceuticals by 17.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 147,099 shares of the biopharmaceutical company’s stock valued at $4,606,000 after buying an additional 22,008 shares in the last quarter. Mutual of America Capital Management LLC bought a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at $2,206,000. Finally, Phocas Financial Corp. lifted its stake in shares of ACADIA Pharmaceuticals by 1.9% in the fourth quarter. Phocas Financial Corp. now owns 66,957 shares of the biopharmaceutical company’s stock valued at $2,096,000 after buying an additional 1,266 shares in the last quarter. 96.71% of the stock is 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.