Mizuho Forecasts Strong Price Appreciation for ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock

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

A number of other equities analysts have also recently commented on ACAD. Needham & Company LLC raised their target price on ACADIA Pharmaceuticals from $27.00 to $30.00 and gave the company a “buy” rating in a report on Monday. BMO Capital Markets raised their target price on ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the company an “outperform” rating in a report on Monday. StockNews.com cut ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, May 12th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $20.00 price target on shares of ACADIA Pharmaceuticals in a research report on Friday, March 7th. Finally, HC Wainwright increased their price target on ACADIA Pharmaceuticals from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Monday. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.42.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD stock opened at $21.99 on Monday. The stock has a 50 day simple moving average of $16.01 and a 200-day simple moving average of $17.16. ACADIA Pharmaceuticals has a 1-year low of $13.40 and a 1-year high of $25.23. The company has a market cap of $3.68 billion, a price-to-earnings ratio of 28.19 and a beta of 0.47.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The business had revenue of $244.32 million during the quarter, compared to the consensus estimate of $239.32 million. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same period last year, the company earned $0.10 EPS. Analysts anticipate that ACADIA Pharmaceuticals will post 0.7 earnings per share for the current fiscal year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 2,000 shares of ACADIA Pharmaceuticals stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $25.00, for a total value of $50,000.00. Following the completion of the sale, the executive vice president now owns 62,130 shares in the company, valued at $1,553,250. The trade was a 3.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider James Kihara sold 4,000 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $22.50, for a total value of $90,000.00. Following the sale, the insider now owns 20,395 shares of the company’s stock, valued at $458,887.50. The trade was a 16.40% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,994 shares of company stock worth $453,131. Corporate insiders own 26.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. SG Americas Securities LLC boosted its stake in 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 valued at $45,576,000 after buying an additional 1,966,607 shares in the last quarter. Barclays PLC increased its stake in ACADIA Pharmaceuticals by 126.2% in the 3rd quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company’s stock worth $4,269,000 after purchasing an additional 154,854 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in ACADIA Pharmaceuticals in the 4th quarter worth about $272,000. Vanguard Group Inc. increased its stake in ACADIA Pharmaceuticals by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 13,947,640 shares of the biopharmaceutical company’s stock worth $255,939,000 after purchasing an additional 104,444 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in ACADIA Pharmaceuticals by 66.9% in the 4th quarter. Victory Capital Management Inc. now owns 162,125 shares of the biopharmaceutical company’s stock worth $2,975,000 after purchasing an additional 64,995 shares in the last quarter. 96.71% of the stock is owned by institutional investors and hedge funds.

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.