Royal Bank Of Canada Lowers ACADIA Pharmaceuticals (NASDAQ:ACAD) Price Target to $32.00

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price target cut by equities research analysts at Royal Bank Of Canada from $34.00 to $32.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the biopharmaceutical company’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 49.95% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. JMP Securities raised their target price on shares of ACADIA Pharmaceuticals from $37.00 to $38.00 and gave the company a “market outperform” rating in a research note on Thursday, August 7th. UBS Group increased their price target on ACADIA Pharmaceuticals from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, September 9th. The Goldman Sachs Group increased their price objective on shares of ACADIA Pharmaceuticals from $15.00 to $17.00 and gave the company a “sell” rating in a research report on Thursday, August 7th. Needham & Company LLC raised their target price on shares of ACADIA Pharmaceuticals from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of ACADIA Pharmaceuticals in a report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.94.

ACADIA Pharmaceuticals Trading Down 4.4%

Shares of ACADIA Pharmaceuticals stock traded down $0.99 on Thursday, reaching $21.34. 385,179 shares of the company were exchanged, compared to its average volume of 2,152,248. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 7.90 and a beta of 0.80. ACADIA Pharmaceuticals has a one year low of $13.40 and a one year high of $26.65. The company has a 50-day moving average of $22.78 and a 200 day moving average of $21.84.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.28. The business had revenue of $278.63 million for the quarter, compared to the consensus estimate of $276.52 million. ACADIA Pharmaceuticals had a net margin of 21.80% and a return on equity of 14.69%. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.20 earnings per share. ACADIA Pharmaceuticals has set its FY 2025 guidance at EPS. Analysts predict that ACADIA Pharmaceuticals will post 0.7 earnings per share for the current year.

Insider Transactions at ACADIA Pharmaceuticals

In related news, EVP Mark C. Schneyer sold 22,000 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $25.18, for a total transaction of $553,960.00. Following the completion of the sale, the executive vice president owned 40,130 shares of the company’s stock, valued at $1,010,473.40. This represents a 35.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Elizabeth A. Garofalo sold 1,600 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $25.98, for a total transaction of $41,568.00. Following the sale, the director owned 25,382 shares in the company, valued at $659,424.36. The trade was a 5.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 27,098 shares of company stock valued at $678,256. 26.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its stake in ACADIA Pharmaceuticals by 113.0% during the third quarter. Geneos Wealth Management Inc. now owns 1,425 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 756 shares during the last quarter. Banque Transatlantique SA bought a new position in shares of ACADIA Pharmaceuticals in the first quarter worth about $31,000. Picton Mahoney Asset Management acquired a new stake in shares of ACADIA Pharmaceuticals in the 1st quarter valued at approximately $32,000. Smartleaf Asset Management LLC increased its position in ACADIA Pharmaceuticals by 107.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 885 shares in the last quarter. Finally, Federated Hermes Inc. boosted its position in ACADIA Pharmaceuticals by 231.5% in the first quarter. Federated Hermes Inc. now owns 2,317 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 1,618 shares in the last quarter. 96.71% of the stock is owned by 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.