Cantor Fitzgerald Trims ACADIA Pharmaceuticals (NASDAQ:ACAD) Target Price to $28.00

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price target decreased by analysts at Cantor Fitzgerald from $37.00 to $28.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target points to a potential upside of 82.17% from the stock’s previous close.

Several other research firms also recently commented on ACAD. Mizuho dropped their target price on ACADIA Pharmaceuticals from $25.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, May 9th. Royal Bank of Canada reduced their price objective on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday. Oppenheimer reiterated a “market perform” rating and issued a $19.00 target price on shares of ACADIA Pharmaceuticals in a research note on Monday, May 6th. Finally, Morgan Stanley lowered ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $28.00 to $20.00 in a report on Wednesday. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.75.

ACADIA Pharmaceuticals Stock Performance

Shares of ACADIA Pharmaceuticals stock traded down $3.48 during trading on Wednesday, hitting $15.37. The company’s stock had a trading volume of 4,731,406 shares, compared to its average volume of 1,793,044. ACADIA Pharmaceuticals has a 52 week low of $14.55 and a 52 week high of $32.59. The company has a market capitalization of $2.54 billion, a PE ratio of -1,537.00 and a beta of 0.38. The company has a fifty day simple moving average of $16.61 and a two-hundred day simple moving average of $19.02.

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

Institutional Trading of ACADIA Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of ACAD. DekaBank Deutsche Girozentrale grew its stake in shares of ACADIA Pharmaceuticals by 2.4% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 94,553 shares of the biopharmaceutical company’s stock valued at $2,925,000 after acquiring an additional 2,184 shares during the period. Mirae Asset Global Investments Co. Ltd. increased 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 worth $2,686,000 after purchasing an additional 4,442 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of ACADIA Pharmaceuticals by 17.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 147,099 shares of the biopharmaceutical company’s stock valued at $4,606,000 after purchasing an additional 22,008 shares during the period. Mutual of America Capital Management LLC bought a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter valued at $2,206,000. Finally, Phocas Financial Corp. lifted its stake in shares of ACADIA Pharmaceuticals by 1.9% during the 4th 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. Hedge funds and other institutional investors own 96.71% of the company’s stock.

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.