Mizuho Reiterates Neutral Rating for ACADIA Pharmaceuticals (NASDAQ:ACAD)

Mizuho reaffirmed their neutral rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) in a research report report published on Monday, Benzinga reports. The brokerage currently has a $19.00 price objective on the biopharmaceutical company’s stock.

A number of other research firms have also recently weighed in on ACAD. Royal Bank of Canada raised their price target on ACADIA Pharmaceuticals from $19.00 to $27.00 and gave the company an outperform rating in a report on Tuesday, February 28th. Oppenheimer raised their price target on ACADIA Pharmaceuticals from $17.00 to $20.00 and gave the company a market perform rating in a report on Wednesday, March 1st. JMP Securities dropped their price target on ACADIA Pharmaceuticals from $24.00 to $22.00 and set a market perform rating for the company in a report on Tuesday, February 28th. StockNews.com raised ACADIA Pharmaceuticals from a hold rating to a buy rating in a report on Thursday, December 1st. Finally, Morgan Stanley raised their price target on ACADIA Pharmaceuticals from $18.00 to $19.00 and gave the company an equal weight rating in a report on Tuesday, February 28th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $20.52.

ACADIA Pharmaceuticals Trading Down 4.7 %

Shares of ACAD opened at $19.41 on Monday. ACADIA Pharmaceuticals has a 1 year low of $12.24 and a 1 year high of $28.06. The stock has a 50 day simple moving average of $18.93 and a 200-day simple moving average of $17.04. The stock has a market cap of $3.15 billion, a PE ratio of -14.49 and a beta of 0.59.

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

Insider Transactions at ACADIA Pharmaceuticals

In other news, CEO Stephen Davis sold 3,851 shares of the firm’s stock in a transaction on Friday, February 24th. The stock was sold at an average price of $18.78, for a total value of $72,321.78. Following the transaction, the chief executive officer now directly owns 91,727 shares in the company, valued at approximately $1,722,633.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Stephen Davis sold 3,851 shares of the firm’s stock in a transaction on Friday, February 24th. The stock was sold at an average price of $18.78, for a total value of $72,321.78. Following the sale, the chief executive officer now directly owns 91,727 shares in the company, valued at approximately $1,722,633.06. The disclosure for this sale can be found here. Insiders have sold 23,567 shares of company stock worth $427,672 in the last three months. Insiders own 28.40% of the company’s stock.

Institutional Trading of ACADIA Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank raised its stake in ACADIA Pharmaceuticals by 3.2% during the 4th quarter. Amalgamated Bank now owns 19,880 shares of the biopharmaceutical company’s stock worth $316,000 after buying an additional 622 shares during the period. Handelsbanken Fonder AB raised its stake in ACADIA Pharmaceuticals by 3.2% during the 4th quarter. Handelsbanken Fonder AB now owns 25,433 shares of the biopharmaceutical company’s stock worth $405,000 after buying an additional 800 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in ACADIA Pharmaceuticals by 1.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 60,753 shares of the biopharmaceutical company’s stock worth $967,000 after buying an additional 844 shares during the period. Commonwealth Equity Services LLC raised its stake in ACADIA Pharmaceuticals by 6.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 13,930 shares of the biopharmaceutical company’s stock worth $221,000 after buying an additional 865 shares during the period. Finally, Exchange Traded Concepts LLC raised its stake in shares of ACADIA Pharmaceuticals by 45.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 3,937 shares of the biopharmaceutical company’s stock valued at $64,000 after purchasing an additional 1,228 shares during the period. Institutional investors and hedge funds own 92.79% of the company’s stock.

About ACADIA Pharmaceuticals

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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.