ACADIA Pharmaceuticals (NASDAQ:ACAD) PT Lowered to $27.00 at HC Wainwright

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price target reduced by investment analysts at HC Wainwright from $33.00 to $27.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target would suggest a potential upside of 77.51% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on ACAD. Needham & Company LLC reissued a “buy” rating and set a $30.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday. Morgan Stanley cut their target price on ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 13th. JPMorgan Chase & Co. lowered their price target on ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, March 25th. Stifel Nicolaus lowered their price objective on shares of ACADIA Pharmaceuticals from $26.00 to $21.00 and set a “hold” rating for the company in a research report on Thursday. Finally, Citigroup decreased their price target on ACADIA Pharmaceuticals from $30.19 to $30.00 and set a “buy” rating for the company in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.38.

ACADIA Pharmaceuticals Price Performance

ACAD traded down $1.92 on Thursday, hitting $15.21. The company had a trading volume of 5,277,711 shares, compared to its average volume of 1,785,875. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of -40.58 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 has a 1-year low of $15.17 and a 1-year high of $33.99.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.06. ACADIA Pharmaceuticals had a negative return on equity of 15.67% and a negative net margin of 8.44%. The company had revenue of $205.83 million for the quarter, compared to the consensus estimate of $208.31 million. During the same period last year, the business posted ($0.27) earnings per share. The firm’s revenue was up 73.8% compared to the same quarter last year. On average, sell-side analysts forecast that ACADIA Pharmaceuticals will post 0.62 EPS for the current year.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, insider James Kihara sold 1,790 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider James Kihara sold 1,790 shares of ACADIA Pharmaceuticals 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 transaction, the insider now directly owns 13,100 shares of the company’s stock, valued at $234,097. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark C. Schneyer sold 3,503 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total value of $59,340.82. Following the transaction, the chief financial officer now owns 32,053 shares in the company, valued at approximately $542,977.82. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,116 shares of company stock valued at $1,625,639. Corporate insiders own 27.50% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Several institutional investors have recently modified their holdings of ACAD. Mutual of America Capital Management LLC purchased a new position in shares of ACADIA Pharmaceuticals during the fourth quarter valued at approximately $2,206,000. Qube Research & Technologies Ltd lifted its holdings in ACADIA Pharmaceuticals by 757.2% during the third quarter. Qube Research & Technologies Ltd now owns 212,919 shares of the biopharmaceutical company’s stock valued at $4,437,000 after purchasing an additional 188,080 shares in the last quarter. RTW Investments LP lifted its stake in shares of ACADIA Pharmaceuticals by 18.3% during the 3rd quarter. RTW Investments LP now owns 11,576,537 shares of the biopharmaceutical company’s stock valued at $241,255,000 after buying an additional 1,793,288 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of 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 acquiring an additional 91,641 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of ACADIA Pharmaceuticals by 4.9% in the third 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. 96.71% of the stock is owned by hedge funds and other institutional investors.

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.