ACADIA Pharmaceuticals (NASDAQ:ACAD) PT Lowered to $28.00 at Cantor Fitzgerald

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its target price reduced by Cantor Fitzgerald from $37.00 to $28.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 82.17% from the company’s previous close.

Several other brokerages have also recently issued reports on ACAD. Bank of America reduced their price objective on ACADIA Pharmaceuticals from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Friday, May 10th. Morgan Stanley lowered shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $28.00 to $20.00 in a research report on Wednesday. Stifel Nicolaus dropped their target price on shares of ACADIA Pharmaceuticals from $26.00 to $21.00 and set a “hold” rating for the company in a report on Thursday, May 9th. Mizuho cut their target price on shares of ACADIA Pharmaceuticals from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. Finally, Royal Bank of Canada lowered their price target on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.75.

ACADIA Pharmaceuticals Stock Down 18.5 %

Shares of ACADIA Pharmaceuticals stock traded down $3.48 during trading on Wednesday, reaching $15.37. The company’s stock had a trading volume of 4,731,406 shares, compared to its average volume of 1,793,044. ACADIA Pharmaceuticals has a 12-month low of $14.55 and a 12-month high of $32.59. The business has a 50 day moving average price of $16.61 and a 200-day moving average price of $19.02. The company has a market capitalization of $2.54 billion, a P/E ratio of -1,537.00 and a beta of 0.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. ACADIA Pharmaceuticals had a negative net margin of 0.21% and a negative return on equity of 0.41%. The firm had revenue of $241.96 million for the quarter, compared to the consensus estimate of $235.95 million. During the same quarter in the previous year, the firm earned $0.01 earnings per share. The firm’s revenue was up 46.4% on a year-over-year basis. Research analysts predict that ACADIA Pharmaceuticals will post 0.58 EPS for the current fiscal year.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at about $45,187,000. Eventide Asset Management LLC acquired a new position in ACADIA Pharmaceuticals during the fourth quarter valued at approximately $25,342,000. M&G Investment Management Ltd. purchased a new stake in ACADIA Pharmaceuticals during the fourth quarter worth approximately $10,349,000. M&G Plc acquired a new stake in shares of ACADIA Pharmaceuticals in the first quarter worth $5,622,000. Finally, WCM Investment Management LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the first quarter worth $5,215,000. Hedge funds and other institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Company Profile

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.