ACADIA Pharmaceuticals (ACAD) – Research Analysts’ Recent Ratings Updates

Several analysts have recently updated their ratings and price targets for ACADIA Pharmaceuticals (NASDAQ: ACAD):

• 3/25/2024 – ACADIA Pharmaceuticals had its price target lowered by analysts at JPMorgan Chase & Co. from $29.00 to $25.00. They now have an “overweight” rating on the stock.
• 3/13/2024 – ACADIA Pharmaceuticals had its price target lowered by analysts at Morgan Stanley from $40.00 to $30.00. They now have an “overweight” rating on the stock.
• 3/12/2024 – ACADIA Pharmaceuticals was downgraded by analysts at Mizuho from a “buy” rating to a “neutral” rating. They now have a $25.00 price target on the stock, down previously from $39.00.
• 3/12/2024 – ACADIA Pharmaceuticals had its price target lowered by analysts at Needham & Company LLC from $36.00 to $32.00. They now have a “buy” rating on the stock.
• 3/1/2024 – ACADIA Pharmaceuticals had its price target lowered by analysts at JPMorgan Chase & Co. from $32.00 to $29.00. They now have an “overweight” rating on the stock.
• 2/28/2024 – ACADIA Pharmaceuticals had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $42.00 price target on the stock.
• 2/28/2024 – ACADIA Pharmaceuticals had its price target lowered by analysts at Royal Bank of Canada from $36.00 to $35.00. They now have an “outperform” rating on the stock.
• 2/28/2024 – ACADIA Pharmaceuticals had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $33.00 price target on the stock.
• 2/28/2024 – ACADIA Pharmaceuticals had its price target lowered by analysts at Mizuho from $40.00 to $39.00. They now have a “buy” rating on the stock.
• 2/28/2024 – ACADIA Pharmaceuticals had its price target lowered by analysts at Needham & Company LLC from $37.00 to $36.00. They now have a “buy” rating on the stock.
• 2/27/2024 – ACADIA Pharmaceuticals was upgraded by analysts at TheStreet from a “d” rating to a “c” rating.
• 2/7/2024 – ACADIA Pharmaceuticals had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $42.00 price target on the stock.
• 2/5/2024 – ACADIA Pharmaceuticals had its “market perform” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $25.00 price target on the stock.
• 2/2/2024 – ACADIA Pharmaceuticals had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $42.00 price target on the stock.
• 1/30/2024 – ACADIA Pharmaceuticals is now covered by analysts at Robert W. Baird. They set an “outperform” rating and a $40.00 price target on the stock.
• 1/30/2024 – ACADIA Pharmaceuticals was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.

ACADIA Pharmaceuticals Stock Up 1.6 %

Shares of ACAD stock opened at $18.49 on Friday. ACADIA Pharmaceuticals Inc. has a 12 month low of $17.56 and a 12 month high of $33.99. The business’s 50 day moving average is $23.67 and its two-hundred day moving average is $24.43. The company has a market cap of $3.05 billion, a PE ratio of -48.66 and a beta of 0.40.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.04). The company had revenue of $231.04 million during the quarter, compared to analyst estimates of $223.79 million. ACADIA Pharmaceuticals had a negative return on equity of 15.67% and a negative net margin of 8.44%. The company’s revenue was up 69.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.26) EPS. As a group, equities analysts expect that ACADIA Pharmaceuticals Inc. will post 0.64 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Brendan Teehan sold 5,140 shares of the firm’s 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 completion of the transaction, 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 document filed with the SEC, which can be accessed through the SEC website. In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 17,714 shares of ACADIA Pharmaceuticals stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $17.90, for a total transaction of $317,080.60. Following the completion of the transaction, the chief executive officer now directly owns 118,842 shares of the company’s stock, valued at $2,127,271.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Brendan Teehan sold 5,140 shares of ACADIA Pharmaceuticals stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $17.90, for a total value of $92,006.00. Following the transaction, the chief operating officer now directly owns 36,340 shares of the company’s stock, valued at $650,486. The disclosure for this sale can be found here. Insiders sold a total of 40,788 shares of company stock valued at $841,461 over the last ninety days. 27.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ACAD. Raymond James Financial Services Advisors Inc. bought a new position in shares of ACADIA Pharmaceuticals in the first quarter valued at about $572,000. HighTower Advisors LLC bought a new position in shares of ACADIA Pharmaceuticals in the first quarter valued at about $1,077,000. MetLife Investment Management LLC raised its holdings in shares of ACADIA Pharmaceuticals by 54.0% in the first quarter. MetLife Investment Management LLC now owns 66,351 shares of the biopharmaceutical company’s stock valued at $1,607,000 after buying an additional 23,265 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of ACADIA Pharmaceuticals by 3.9% in the first quarter. Rhumbline Advisers now owns 133,444 shares of the biopharmaceutical company’s stock valued at $3,232,000 after buying an additional 5,011 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of ACADIA Pharmaceuticals in the first quarter valued at about $1,380,000. 96.71% of the stock is owned by institutional investors.

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.