Mizuho Issues Positive Forecast for ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Price

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its target price boosted by Mizuho from $20.00 to $23.00 in a research report report published on Monday morning,Benzinga reports. They currently have a neutral rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They issued a “hold” rating and a $22.00 target price on the stock. BMO Capital Markets lifted their target price on shares of ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the stock an “outperform” rating in a report on Monday. Needham & Company LLC lifted their price objective on shares of ACADIA Pharmaceuticals from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday. StockNews.com lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, May 12th. Finally, UBS Group reduced their target price on shares of ACADIA Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ACADIA Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $25.42.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD opened at $21.99 on Monday. The company has a 50-day simple moving average of $16.01 and a 200-day simple moving average of $17.16. The firm has a market capitalization of $3.68 billion, a P/E ratio of 28.19 and a beta of 0.47. ACADIA Pharmaceuticals has a 52 week low of $13.40 and a 52 week high of $25.23.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The business had revenue of $244.32 million for the quarter, compared to analysts’ expectations of $239.32 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The firm’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 earnings per share. As a group, equities analysts forecast that ACADIA Pharmaceuticals will post 0.7 earnings per share for the current year.

Insider Activity

In related news, Director Elizabeth A. Garofalo sold 4,919 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total value of $89,673.37. Following the sale, the director now directly owns 17,595 shares of the company’s stock, valued at $320,756.85. This trade represents a 21.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark C. Schneyer sold 3,171 shares of ACADIA Pharmaceuticals stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $17.05, for a total transaction of $54,065.55. Following the completion of the sale, the executive vice president now owns 56,889 shares in the company, valued at approximately $969,957.45. This trade represents a 5.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,994 shares of company stock worth $453,131 over the last quarter. Insiders own 26.50% of the company’s stock.

Institutional Trading of ACADIA Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in ACADIA Pharmaceuticals by 9.0% in the first quarter. Vanguard Group Inc. now owns 15,203,234 shares of the biopharmaceutical company’s stock worth $252,526,000 after buying an additional 1,255,594 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in ACADIA Pharmaceuticals in the first quarter worth $60,845,000. Fred Alger Management LLC lifted its position in ACADIA Pharmaceuticals by 2.0% in the first quarter. Fred Alger Management LLC now owns 2,769,828 shares of the biopharmaceutical company’s stock worth $46,007,000 after buying an additional 54,899 shares during the last quarter. First Trust Advisors LP lifted its position in ACADIA Pharmaceuticals by 27.0% in the fourth quarter. First Trust Advisors LP now owns 2,700,125 shares of the biopharmaceutical company’s stock worth $49,547,000 after buying an additional 574,251 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of ACADIA Pharmaceuticals by 380.3% during the fourth quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company’s stock worth $45,576,000 after purchasing an additional 1,966,607 shares during the last quarter. 96.71% of the stock is currently 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.