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

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price objective reduced by Citigroup from $30.19 to $30.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Citigroup’s target price points to a potential upside of 97.24% from the company’s current price.

A number of other equities research analysts have also commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $37.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday. Morgan Stanley lowered their price target on shares of ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating on the stock in a report on Wednesday, March 13th. Royal Bank of Canada dropped their price objective on shares of ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Mizuho lowered their price objective 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. Finally, StockNews.com raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, January 30th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.38.

ACADIA Pharmaceuticals Stock Down 11.2 %

NASDAQ:ACAD traded down $1.92 during trading hours on Thursday, hitting $15.21. 5,277,711 shares of the stock traded hands, compared to its average volume of 1,785,875. The stock has a 50 day moving average price of $18.66 and a 200 day moving average price of $23.21. The company has a market cap of $2.51 billion, a price-to-earnings ratio of -40.58 and a beta of 0.42. ACADIA Pharmaceuticals has a 1 year low of $15.17 and a 1 year high of $33.99.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Wednesday, May 8th. The biopharmaceutical company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.06. The business had revenue of $205.83 million for the quarter, compared to the consensus estimate of $208.31 million. ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The business’s revenue for the quarter was up 73.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.27) earnings per share. Equities analysts forecast that ACADIA Pharmaceuticals will post 0.62 earnings per share for the current fiscal year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 5,577 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $24.67, for a total transaction of $137,584.59. Following the completion of the sale, the chief executive officer now owns 101,890 shares in the company, valued at approximately $2,513,626.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Brendan Teehan sold 5,140 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 value of $92,006.00. Following the transaction, the chief operating officer now owns 36,340 shares in the company, valued at approximately $650,486. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Stephen Davis sold 5,577 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $24.67, for a total value of $137,584.59. Following the completion of the sale, the chief executive officer now owns 101,890 shares in the company, valued at approximately $2,513,626.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,116 shares of company stock worth $1,625,639. Insiders own 27.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Quest Partners LLC purchased a new position in shares of ACADIA Pharmaceuticals during the 4th quarter valued at $39,000. Headlands Technologies LLC bought a new position in shares of ACADIA Pharmaceuticals during the 1st quarter valued at about $48,000. China Universal Asset Management Co. Ltd. increased its position in shares of ACADIA Pharmaceuticals by 97.1% during 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 purchasing an additional 2,070 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of ACADIA Pharmaceuticals during the 4th quarter valued at about $100,000. Finally, Acadian Asset Management LLC bought a new position in shares of ACADIA Pharmaceuticals during the 3rd quarter valued at about $184,000. Institutional investors own 96.71% of the company’s stock.

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.