ACADIA Pharmaceuticals (NASDAQ:ACAD) Price Target Lowered to $21.00 at Mizuho

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price objective lowered by stock analysts at Mizuho from $25.00 to $21.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the biopharmaceutical company’s stock. Mizuho’s price objective suggests a potential upside of 22.59% from the company’s current price.

Several other analysts have also commented on the stock. JMP Securities restated a “market outperform” rating and set a $42.00 price target on shares of ACADIA Pharmaceuticals in a research report on Wednesday, February 7th. HC Wainwright reiterated a “buy” rating and set a $33.00 price target on shares of ACADIA Pharmaceuticals in a research report on Wednesday, February 28th. StockNews.com raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, January 30th. Royal Bank of Canada dropped their target price on shares of ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Finally, Needham & Company LLC restated a “buy” rating and set a $32.00 price target on shares of ACADIA Pharmaceuticals in a research report on Tuesday, April 9th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $30.63.

ACADIA Pharmaceuticals Price Performance

NASDAQ:ACAD opened at $17.13 on Thursday. ACADIA Pharmaceuticals has a 1-year low of $16.16 and a 1-year high of $33.99. The firm has a market capitalization of $2.83 billion, a P/E ratio of -45.08 and a beta of 0.42. The company’s fifty day moving average price is $18.66 and its 200-day moving average price is $23.21.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.04). ACADIA Pharmaceuticals had a negative return on equity of 15.67% and a negative net margin of 8.44%. The company had revenue of $231.04 million for the quarter, compared to analyst estimates of $223.79 million. During the same period last year, the business earned ($0.26) earnings per share. The firm’s revenue was up 69.3% on a year-over-year basis. Equities analysts anticipate that ACADIA Pharmaceuticals will post 0.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider James Kihara sold 1,790 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $17.87, for a total transaction of $31,987.30. Following the transaction, the insider now directly owns 13,100 shares of the company’s stock, valued at approximately $234,097. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 5,577 shares of the company’s stock in a transaction 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 owns 101,890 shares of the company’s stock, valued at $2,513,626.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Kihara sold 1,790 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $17.87, for a total value of $31,987.30. Following the completion of the transaction, the insider now owns 13,100 shares of the company’s stock, valued at approximately $234,097. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,116 shares of company stock worth $1,625,639. 27.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Quest Partners LLC purchased a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at about $39,000. Headlands Technologies LLC purchased a new position in ACADIA Pharmaceuticals during the first quarter worth $48,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of ACADIA Pharmaceuticals in the fourth quarter worth $100,000. China Universal Asset Management Co. Ltd. lifted its position in shares of ACADIA Pharmaceuticals by 97.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 4,202 shares of the biopharmaceutical company’s stock valued at $88,000 after acquiring an additional 2,070 shares in the last quarter. Finally, Legato Capital Management LLC acquired a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter valued at $206,000. 96.71% of the stock is owned by institutional investors and hedge funds.

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.