ACADIA Pharmaceuticals (NASDAQ:ACAD) Rating Reiterated by Mizuho


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Mizuho restated their neutral rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a research note issued to investors on Tuesday, Benzinga reports. Mizuho currently has a $25.00 price target on the biopharmaceutical company’s stock.

A number of other research firms have also recently commented on ACAD. Morgan Stanley lowered their price objective on shares of ACADIA Pharmaceuticals from $50.00 to $28.00 and set an overweight rating for the company in a research report on Tuesday. TheStreet lowered shares of ACADIA Pharmaceuticals from a c- rating to a d- rating in a research note on Friday, April 9th. Needham & Company LLC reduced their target price on shares of ACADIA Pharmaceuticals from $44.00 to $30.00 and set a buy rating for the company in a research note on Monday, April 5th. SVB Leerink reduced their target price on shares of ACADIA Pharmaceuticals from $63.00 to $31.00 and set an outperform rating for the company in a research note on Tuesday, April 6th. Finally, Cantor Fitzgerald increased their price objective on shares of ACADIA Pharmaceuticals from $33.00 to $45.00 and gave the stock an overweight rating in a research note on Tuesday, April 6th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company’s stock. ACADIA Pharmaceuticals currently has a consensus rating of Hold and a consensus price target of $33.78.

NASDAQ:ACAD opened at $21.15 on Tuesday. The business’s 50 day moving average is $30.42 and its two-hundred day moving average is $45.35. ACADIA Pharmaceuticals has a 52 week low of $20.12 and a 52 week high of $58.72. The company has a market cap of $3.38 billion, a PE ratio of -12.30 and a beta of 1.44.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Tuesday, February 23rd. The biopharmaceutical company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.05. The business had revenue of $121.01 million for the quarter, compared to analysts’ expectations of $122.87 million. ACADIA Pharmaceuticals had a negative return on equity of 40.35% and a negative net margin of 63.92%. Analysts anticipate that ACADIA Pharmaceuticals will post -1.84 earnings per share for the current fiscal year.

In other news, CFO Elena Ridloff sold 2,051 shares of the firm’s stock in a transaction that occurred on Thursday, February 4th. The shares were sold at an average price of $50.61, for a total transaction of $103,801.11. Following the transaction, the chief financial officer now directly owns 10,391 shares of the company’s stock, valued at $525,888.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephen Davis sold 14,195 shares of the firm’s stock in a transaction that occurred on Thursday, February 4th. The stock was sold at an average price of $50.61, for a total transaction of $718,408.95. Following the transaction, the chief executive officer now directly owns 43,059 shares in the company, valued at $2,179,215.99. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,782 shares of company stock worth $1,355,437. Insiders own 27.70% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Swiss National Bank boosted its position in shares of ACADIA Pharmaceuticals by 1.7% during the 4th quarter. Swiss National Bank now owns 269,404 shares of the biopharmaceutical company’s stock worth $14,402,000 after acquiring an additional 4,500 shares in the last quarter. Sei Investments Co. boosted its position in shares of ACADIA Pharmaceuticals by 30.4% during the 4th quarter. Sei Investments Co. now owns 107,697 shares of the biopharmaceutical company’s stock worth $5,733,000 after acquiring an additional 25,096 shares in the last quarter. DNB Asset Management AS boosted its position in shares of ACADIA Pharmaceuticals by 144.4% during the 4th quarter. DNB Asset Management AS now owns 55,098 shares of the biopharmaceutical company’s stock worth $2,946,000 after acquiring an additional 32,556 shares in the last quarter. Perigon Wealth Management LLC acquired a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter worth approximately $86,000. Finally, Northern Trust Corp boosted its position in ACADIA Pharmaceuticals by 1.6% in the fourth quarter. Northern Trust Corp now owns 597,373 shares of the biopharmaceutical company’s stock valued at $31,935,000 after buying an additional 9,490 shares in the last quarter. Institutional investors and hedge funds own 93.54% of the company’s stock.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; Trofinetide, a novel synthetic analog for the treatment of Rett syndrome; ACP-044, a novel first-in-class orally administered non-opioid analgesic for treating acute and chronic pain; and ACP-319, a positive allosteric modulator of the muscarinic receptor for treating cognition and schizophrenia.

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Analyst Recommendations for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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