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

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

ACAD has been the topic of a number of other research reports. StockNews.com raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, January 30th. TheStreet upgraded ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a research note on Tuesday, February 27th. JPMorgan Chase & Co. cut their price objective on ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, March 25th. Royal Bank of Canada lowered their target price on shares of ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $32.00 price target on shares of ACADIA Pharmaceuticals in a research note on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.63.

ACADIA Pharmaceuticals Stock Performance

NASDAQ ACAD opened at $17.13 on Thursday. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of -45.08 and a beta of 0.42. ACADIA Pharmaceuticals has a 52 week low of $16.16 and a 52 week high of $33.99. The stock’s 50 day moving average price is $18.66 and its two-hundred day moving average price is $23.21.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced 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 business had revenue of $231.04 million for the quarter, compared to analyst estimates of $223.79 million. During the same quarter in the previous year, the company posted ($0.26) EPS. The business’s revenue for the quarter was up 69.3% compared to the same quarter last year. On average, equities research analysts forecast that ACADIA Pharmaceuticals will post 0.62 EPS for the current year.

Insider Transactions at ACADIA Pharmaceuticals

In related news, CEO Stephen Davis sold 11,427 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total value of $193,573.38. Following the completion of the transaction, the chief executive officer now owns 155,231 shares of the company’s stock, valued at $2,629,613.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Stephen Davis sold 11,427 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total transaction of $193,573.38. Following the completion of the transaction, the chief executive officer now owns 155,231 shares of the company’s stock, valued at approximately $2,629,613.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Brendan Teehan sold 5,140 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $17.90, for a total value of $92,006.00. Following the sale, the chief operating officer now owns 36,340 shares of the company’s stock, valued at $650,486. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,116 shares of company stock valued at $1,625,639. 27.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Mutual of America Capital Management LLC bought a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter worth $2,206,000. Qube Research & Technologies Ltd increased its position in shares of ACADIA Pharmaceuticals by 757.2% during the third quarter. Qube Research & Technologies Ltd now owns 212,919 shares of the biopharmaceutical company’s stock worth $4,437,000 after buying an additional 188,080 shares during the period. RTW Investments LP raised its stake in ACADIA Pharmaceuticals by 18.3% during the third quarter. RTW Investments LP now owns 11,576,537 shares of the biopharmaceutical company’s stock worth $241,255,000 after buying an additional 1,793,288 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in ACADIA Pharmaceuticals by 9.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,073,093 shares of the biopharmaceutical company’s stock valued at $22,363,000 after buying an additional 91,641 shares during the period. Finally, Northern Trust Corp grew its holdings in ACADIA Pharmaceuticals by 4.9% during the 3rd quarter. Northern Trust Corp now owns 1,220,677 shares of the biopharmaceutical company’s stock worth $25,439,000 after acquiring an additional 57,555 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.