JPMorgan Chase & Co. Cuts ACADIA Pharmaceuticals (NASDAQ:ACAD) Price Target to $25.00

ACADIA Pharmaceuticals (NASDAQ:ACADFree Report) had its target price trimmed by JPMorgan Chase & Co. from $29.00 to $25.00 in a research note released on Monday, Benzinga reports. The firm currently has an overweight rating on the biopharmaceutical company’s stock.

Other equities analysts have also recently issued research reports about the company. Robert W. Baird started coverage on ACADIA Pharmaceuticals in a report on Tuesday, January 30th. They issued an outperform rating and a $40.00 price target for the company. TheStreet raised ACADIA Pharmaceuticals from a d rating to a c rating in a research report on Tuesday, February 27th. Needham & Company LLC cut their target price on ACADIA Pharmaceuticals from $36.00 to $32.00 and set a buy rating on the stock in a research report on Tuesday, March 12th. StockNews.com raised ACADIA Pharmaceuticals from a hold rating to a buy rating in a research report on Tuesday, January 30th. Finally, HC Wainwright reaffirmed a buy rating and issued a $33.00 target price on shares of ACADIA Pharmaceuticals in a research report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, ACADIA Pharmaceuticals has an average rating of Moderate Buy and a consensus price target of $36.12.

View Our Latest Report on ACAD

ACADIA Pharmaceuticals Stock Up 2.3 %

NASDAQ ACAD opened at $18.20 on Monday. The stock has a market cap of $3.00 billion, a PE ratio of -47.89 and a beta of 0.40. ACADIA Pharmaceuticals has a fifty-two week low of $17.56 and a fifty-two week high of $33.99. The business has a 50 day moving average price of $23.85 and a two-hundred day moving average price of $24.48.

ACADIA Pharmaceuticals (NASDAQ:ACADGet Free Report) last released its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). The company had revenue of $231.04 million during the quarter, compared to analysts’ expectations of $223.79 million. ACADIA Pharmaceuticals had a negative return on equity of 15.67% and a negative net margin of 8.44%. The firm’s revenue was up 69.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.26) EPS. Sell-side analysts anticipate that ACADIA Pharmaceuticals will post 0.64 EPS for the current fiscal year.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 5,577 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $24.67, for a total value of $137,584.59. Following the sale, the chief executive officer now directly owns 101,890 shares of the company’s stock, valued at $2,513,626.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 5,140 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $17.90, for a total value of $92,006.00. Following the sale, the chief operating officer now directly owns 36,340 shares of the company’s stock, valued at $650,486. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Stephen Davis sold 5,577 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $24.67, for a total value of $137,584.59. Following the completion of the sale, the chief executive officer now directly owns 101,890 shares in the company, valued at $2,513,626.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,788 shares of company stock valued at $841,461. Corporate insiders own 27.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ACAD. Norges Bank bought a new position in shares of ACADIA Pharmaceuticals in the fourth quarter worth $31,110,000. RTW Investments LP grew its stake in shares of ACADIA Pharmaceuticals by 18.3% in the third quarter. RTW Investments LP now owns 11,576,537 shares of the biopharmaceutical company’s stock worth $241,255,000 after purchasing an additional 1,793,288 shares in the last quarter. State Street Corp grew its stake in shares of ACADIA Pharmaceuticals by 30.4% in the second quarter. State Street Corp now owns 6,593,950 shares of the biopharmaceutical company’s stock worth $92,909,000 after purchasing an additional 1,536,756 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of ACADIA Pharmaceuticals in the fourth quarter worth $17,765,000. Finally, Man Group plc grew its stake in shares of ACADIA Pharmaceuticals by 4,022.0% in the fourth quarter. Man Group plc now owns 955,688 shares of the biopharmaceutical company’s stock worth $15,215,000 after purchasing an additional 932,503 shares in the last quarter. Institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Company Profile

(Get Free Report)

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.

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