ACADIA Pharmaceuticals (NASDAQ:ACAD) PT Lowered to $28.00 at Cantor Fitzgerald

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price target lowered by Cantor Fitzgerald from $37.00 to $28.00 in a report issued on Wednesday, Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the biopharmaceutical company’s stock. Cantor Fitzgerald also issued estimates for ACADIA Pharmaceuticals’ FY2024 earnings at $0.55 EPS.

ACAD has been the topic of a number of other research reports. Needham & Company LLC reaffirmed a buy rating and issued a $30.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, May 9th. Citigroup lowered their target price on ACADIA Pharmaceuticals from $30.19 to $30.00 and set a buy rating on the stock in a research note on Thursday, May 9th. Mizuho cut their price target on ACADIA Pharmaceuticals from $25.00 to $21.00 and set a neutral rating for the company in a research note on Thursday, May 9th. Stifel Nicolaus lowered their price objective on ACADIA Pharmaceuticals from $26.00 to $21.00 and set a hold rating on the stock in a research note on Thursday, May 9th. Finally, Oppenheimer reiterated a market perform rating and set a $19.00 target price on shares of ACADIA Pharmaceuticals in a research report on Monday, May 6th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of Moderate Buy and an average price target of $25.56.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ:ACAD opened at $15.63 on Wednesday. ACADIA Pharmaceuticals has a 1 year low of $14.55 and a 1 year high of $32.59. The company has a market capitalization of $2.58 billion, a PE ratio of -1,563.00 and a beta of 0.38. The business has a fifty day moving average price of $16.64 and a two-hundred day moving average price of $18.82.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.02. The company had revenue of $241.96 million during 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 for the quarter was up 46.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.01 earnings per share. Sell-side analysts anticipate that ACADIA Pharmaceuticals will post 0.58 earnings per share for the current year.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Empire Life Investments Inc. increased its stake in ACADIA Pharmaceuticals by 0.3% in the 4th quarter. Empire Life Investments Inc. now owns 174,815 shares of the biopharmaceutical company’s stock worth $5,473,000 after acquiring an additional 467 shares during the last quarter. Arizona State Retirement System increased its position in shares of ACADIA Pharmaceuticals by 2.2% in the second quarter. Arizona State Retirement System now owns 29,983 shares of the biopharmaceutical company’s stock worth $487,000 after purchasing an additional 655 shares during the last quarter. Handelsbanken Fonder AB raised its stake in ACADIA Pharmaceuticals by 2.3% in the fourth quarter. Handelsbanken Fonder AB now owns 31,633 shares of the biopharmaceutical company’s stock valued at $990,000 after purchasing an additional 700 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in ACADIA Pharmaceuticals by 5.6% during the second quarter. Commonwealth Equity Services LLC now owns 14,770 shares of the biopharmaceutical company’s stock valued at $240,000 after purchasing an additional 778 shares during the last quarter. Finally, Swiss National Bank grew its stake in ACADIA Pharmaceuticals by 0.4% in the 1st quarter. Swiss National Bank now owns 210,604 shares of the biopharmaceutical company’s stock worth $3,894,000 after buying an additional 800 shares in the last quarter. Institutional investors own 96.71% of the company’s stock.

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.