ACADIA Pharmaceuticals (NASDAQ:ACAD) Price Target Increased to $20.00 by Analysts at Mizuho

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) had its price target raised by Mizuho from $19.00 to $20.00 in a research report released on Tuesday, The Fly reports.

ACAD has been the subject of several other research reports. Guggenheim raised shares of ACADIA Pharmaceuticals from a neutral rating to a buy rating and set a $22.00 target price for the company in a report on Tuesday, January 3rd. JMP Securities decreased their price target on shares of ACADIA Pharmaceuticals from $24.00 to $22.00 and set a market perform rating on the stock in a research note on Tuesday, February 28th. Morgan Stanley boosted their price target on shares of ACADIA Pharmaceuticals from $18.00 to $19.00 and gave the stock an equal weight rating in a research note on Tuesday, February 28th. Royal Bank of Canada upped their target price on shares of ACADIA Pharmaceuticals from $19.00 to $27.00 and gave the company an outperform rating in a research report on Tuesday, February 28th. Finally, HC Wainwright upped their target price on shares of ACADIA Pharmaceuticals from $25.00 to $28.00 in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $21.67.

ACADIA Pharmaceuticals Stock Up 5.0 %

Shares of NASDAQ ACAD opened at $20.38 on Tuesday. ACADIA Pharmaceuticals has a twelve month low of $12.24 and a twelve month high of $28.06. The firm has a market cap of $3.31 billion, a P/E ratio of -14.49 and a beta of 0.59. The company has a 50 day moving average of $19.00 and a 200 day moving average of $17.06.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) last posted its earnings results on Monday, February 27th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.01). The company had revenue of $136.49 million during the quarter, compared to the consensus estimate of $135.18 million. ACADIA Pharmaceuticals had a negative return on equity of 50.65% and a negative net margin of 41.76%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period last year, the firm posted ($0.27) EPS. As a group, equities analysts expect that ACADIA Pharmaceuticals will post -0.66 earnings per share for the current fiscal year.

Insider Activity at ACADIA Pharmaceuticals

In related news, CEO Stephen Davis sold 3,851 shares of the stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $18.78, for a total transaction of $72,321.78. Following the completion of the sale, the chief executive officer now owns 91,727 shares of the company’s stock, valued at $1,722,633.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Stephen Davis sold 3,851 shares of the stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $18.78, for a total transaction of $72,321.78. Following the completion of the sale, the chief executive officer now owns 91,727 shares of the company’s stock, valued at $1,722,633.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Laura Brege sold 12,500 shares of the firm’s stock in a transaction on Thursday, January 12th. The stock was sold at an average price of $18.25, for a total transaction of $228,125.00. The disclosure for this sale can be found here. Insiders sold 23,567 shares of company stock valued at $427,672 over the last 90 days. Insiders own 28.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. purchased a new position in shares of ACADIA Pharmaceuticals during the third quarter worth $25,000. Wipfli Financial Advisors LLC purchased a new position in shares of ACADIA Pharmaceuticals during the third quarter worth $33,000. IFP Advisors Inc raised its holdings in shares of ACADIA Pharmaceuticals by 284.6% during the third quarter. IFP Advisors Inc now owns 2,027 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 1,500 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of ACADIA Pharmaceuticals during the third quarter worth $60,000. Finally, Exchange Traded Concepts LLC raised its holdings in shares of ACADIA Pharmaceuticals by 45.3% during the third quarter. Exchange Traded Concepts LLC now owns 3,937 shares of the biopharmaceutical company’s stock worth $64,000 after purchasing an additional 1,228 shares during the last quarter. Hedge funds and other institutional investors own 92.79% of the company’s stock.

ACADIA Pharmaceuticals Company Profile

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ACADIA Pharmaceuticals, Inc is a biopharmaceutical company, which focuses on the development and commercialization of medicines to address unmet medical needs in central nervous system, or CNS, disorders. Its products include Nuplazid, which is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis.