Citigroup Cuts ACADIA Pharmaceuticals (NASDAQ:ACAD) Price Target to $30.00

ACADIA Pharmaceuticals (NASDAQ:ACADFree Report) had its target price lowered by Citigroup from $30.19 to $30.00 in a report published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other brokerages also recently weighed in on ACAD. Royal Bank of Canada dropped their target price on shares of ACADIA Pharmaceuticals from $36.00 to $35.00 and set an outperform rating for the company in a report on Wednesday, February 28th. TheStreet raised ACADIA Pharmaceuticals from a d rating to a c rating in a research note on Tuesday, February 27th. Needham & Company LLC reissued a buy rating and set a $30.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday. HC Wainwright reissued a buy rating and issued a $33.00 price target on shares of ACADIA Pharmaceuticals in a report on Wednesday, February 28th. Finally, Mizuho cut their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $21.00 and set a neutral rating for the company in a report on Thursday. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $28.94.

Read Our Latest Analysis on ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Price Performance

Shares of ACAD opened at $15.25 on Thursday. ACADIA Pharmaceuticals has a one year low of $15.11 and a one year high of $33.99. The business has a fifty day moving average of $18.32 and a 200 day moving average of $23.11. The firm has a market capitalization of $2.52 billion, a P/E ratio of -1,523.48 and a beta of 0.42.

ACADIA Pharmaceuticals (NASDAQ:ACADGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.06. ACADIA Pharmaceuticals had a negative net margin of 0.21% and a negative return on equity of 0.43%. The business had revenue of $205.83 million for the quarter, compared to the consensus estimate of $208.31 million. During the same period last year, the firm earned ($0.27) earnings per share. The company’s quarterly revenue was up 73.8% on a year-over-year basis. Analysts expect that ACADIA Pharmaceuticals will post 0.57 EPS for the current fiscal year.

Insider Transactions at ACADIA Pharmaceuticals

In other news, COO Brendan Teehan sold 5,140 shares of the company’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 transaction, the chief operating officer now owns 36,340 shares of the company’s stock, valued at approximately $650,486. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, COO Brendan Teehan sold 5,140 shares of ACADIA Pharmaceuticals stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 36,340 shares in the company, valued at approximately $650,486. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephen Davis sold 17,714 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $17.90, for a total value of $317,080.60. Following the completion of the sale, the chief executive officer now owns 118,842 shares in the company, valued at approximately $2,127,271.80. The disclosure for this sale can be found here. Insiders sold 89,116 shares of company stock worth $1,625,639 in the last 90 days. Insiders own 27.50% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of large investors have recently modified their holdings of ACAD. Quest Partners LLC acquired a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth about $39,000. Covestor Ltd increased its stake in ACADIA Pharmaceuticals by 70.5% in the first quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 840 shares during the last quarter. Headlands Technologies LLC acquired a new stake in ACADIA Pharmaceuticals during the first quarter worth approximately $48,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $100,000. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of ACADIA Pharmaceuticals by 97.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,202 shares of the biopharmaceutical company’s stock valued at $88,000 after buying an additional 2,070 shares during the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

About ACADIA Pharmaceuticals

(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.

See Also

Analyst Recommendations for ACADIA Pharmaceuticals (NASDAQ:ACAD)

Receive News & Ratings for ACADIA Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ACADIA Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.