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

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

Several other equities research analysts have also commented on the company. StockNews.com lowered ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Robert W. Baird dropped their price target on ACADIA Pharmaceuticals from $31.00 to $28.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Bank of America dropped their price target on ACADIA Pharmaceuticals from $26.00 to $22.00 and set a “neutral” rating for the company in a research note on Friday, May 10th. Morgan Stanley downgraded ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $28.00 to $20.00 in a research report on Wednesday. Finally, Citigroup decreased their target price on ACADIA Pharmaceuticals from $30.19 to $30.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.31.

ACADIA Pharmaceuticals Stock Performance

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

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

Institutional Trading of ACADIA Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the second quarter worth about $111,000. Arizona State Retirement System increased its stake in ACADIA Pharmaceuticals by 2.2% during the second quarter. Arizona State Retirement System now owns 29,983 shares of the biopharmaceutical company’s stock valued at $487,000 after acquiring an additional 655 shares during the period. Victory Capital Management Inc. grew its stake in shares of ACADIA Pharmaceuticals by 18.4% in the 2nd quarter. Victory Capital Management Inc. now owns 94,422 shares of the biopharmaceutical company’s stock valued at $1,534,000 after purchasing an additional 14,700 shares during the period. Hohimer Wealth Management LLC grew its stake in shares of ACADIA Pharmaceuticals by 828.8% in the 2nd quarter. Hohimer Wealth Management LLC now owns 159,133 shares of the biopharmaceutical company’s stock valued at $2,586,000 after purchasing an additional 142,000 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of ACADIA Pharmaceuticals by 1.2% in the 2nd quarter. Rhumbline Advisers now owns 186,500 shares of the biopharmaceutical company’s stock valued at $3,031,000 after purchasing an additional 2,121 shares during the period. Institutional investors and hedge funds 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.