ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Gets Price Target Cut from Royal Bank Of Canada

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price target lowered by Royal Bank Of Canada from $37.00 to $36.00 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also weighed in on the company. TD Cowen reiterated a “buy” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, September 24th. Stifel Nicolaus boosted their price target on ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the company a “hold” rating in a research note on Tuesday, July 21st. UBS Group increased their price objective on ACADIA Pharmaceuticals from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. Morgan Stanley lifted their target price on ACADIA Pharmaceuticals from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 25th. Finally, Needham & Company LLC reduced their target price on shares of ACADIA Pharmaceuticals from $41.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, September 25th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.71.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD stock opened at $19.78 on Thursday. ACADIA Pharmaceuticals has a 52 week low of $19.32 and a 52 week high of $30.96. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of 8.91 and a beta of 0.88. The company has a 50-day simple moving average of $26.39 and a 200 day simple moving average of $24.09.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.11. ACADIA Pharmaceuticals had a net margin of 33.42% and a return on equity of 9.03%. The firm had revenue of $308.00 million for the quarter, compared to analysts’ expectations of $296.55 million. During the same period in the prior year, the firm earned $0.16 EPS. The business’s revenue was up 16.4% on a year-over-year basis. Sell-side analysts forecast that ACADIA Pharmaceuticals will post 0.64 EPS for the current year.

Insider Activity at ACADIA Pharmaceuticals

In related news, EVP Elizabeth Thompson sold 16,558 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $26.13, for a total value of $432,660.54. Following the completion of the transaction, the executive vice president owned 18,994 shares in the company, valued at $496,313.22. This trade represents a 46.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark C. Schneyer sold 14,292 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $29.22, for a total transaction of $417,612.24. Following the transaction, the executive vice president directly owned 67,828 shares of the company’s stock, valued at $1,981,934.16. The trade was a 17.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 36,699 shares of company stock valued at $1,019,894. 26.20% of the stock is owned by insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC increased its holdings in ACADIA Pharmaceuticals by 36.1% in the third quarter. GAMMA Investing LLC now owns 4,064 shares of the biopharmaceutical company’s stock valued at $82,000 after purchasing an additional 1,079 shares during the period. Farther Finance Advisors LLC lifted its holdings in ACADIA Pharmaceuticals by 996.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 9,023 shares of the biopharmaceutical company’s stock worth $182,000 after buying an additional 8,200 shares during the period. Valeo Financial Advisors LLC acquired a new position in ACADIA Pharmaceuticals during the 3rd quarter worth about $424,000. Cim Investment Management Inc. grew its position in shares of ACADIA Pharmaceuticals by 7.3% in the 2nd quarter. Cim Investment Management Inc. now owns 15,273 shares of the biopharmaceutical company’s stock valued at $386,000 after buying an additional 1,034 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in shares of ACADIA Pharmaceuticals in the 2nd quarter valued at about $597,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system disorders and rare diseases. The company is headquartered in San Diego, California, and serves patients and healthcare providers primarily in the United States.

ACADIA’s commercial products include NUPLAZID (pimavanserin), an atypical antipsychotic approved in the United States for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis.