Royal Bank Of Canada Has Lowered Expectations for ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Price

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price objective cut by research analysts at Royal Bank Of Canada from $37.00 to $36.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the biopharmaceutical company’s stock. Royal Bank Of Canada’s target price suggests a potential upside of 84.80% from the company’s current price.

A number of other brokerages also recently weighed in on ACAD. Deutsche Bank Aktiengesellschaft lowered their price target on ACADIA Pharmaceuticals from $38.00 to $31.00 and set a “buy” rating on the stock in a research report on Friday, September 25th. Morgan Stanley lifted their target price on ACADIA Pharmaceuticals from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 25th. HC Wainwright decreased their target price on ACADIA Pharmaceuticals from $37.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, September 25th. Weiss Ratings upgraded ACADIA Pharmaceuticals from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, August 12th. Finally, TD Cowen reaffirmed a “buy” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, September 24th. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.71.

ACADIA Pharmaceuticals Stock Down 0.9%

Shares of NASDAQ ACAD traded down $0.17 during trading hours on Thursday, hitting $19.48. The company had a trading volume of 61,247 shares, compared to its average volume of 1,728,214. ACADIA Pharmaceuticals has a 1-year low of $19.37 and a 1-year high of $30.96. The firm’s 50 day moving average is $26.65 and its 200-day moving average is $24.13. The stock has a market capitalization of $3.36 billion, a P/E ratio of 8.78 and a beta of 0.88.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.11. ACADIA Pharmaceuticals had a net margin of 33.42% and a return on equity of 9.03%. The firm had revenue of $308.00 million for the quarter, compared to analyst estimates of $296.55 million. During the same period in the prior year, the firm posted $0.16 earnings per share. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. On average, sell-side analysts predict that ACADIA Pharmaceuticals will post 0.64 earnings per share for the current year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Elizabeth Thompson sold 16,558 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $26.13, for a total transaction of $432,660.54. Following the transaction, the executive vice president owned 18,994 shares in the company, valued at $496,313.22. This trade represents a 46.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark C. Schneyer sold 14,292 shares of ACADIA Pharmaceuticals stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $29.22, for a total value of $417,612.24. Following the sale, the executive vice president directly owned 67,828 shares of the company’s stock, valued at $1,981,934.16. This represents a 17.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 36,699 shares of company stock valued at $1,019,894 over the last 90 days. 26.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Hedge funds have recently bought and sold shares of the business. Cim Investment Management Inc. grew its position in shares of ACADIA Pharmaceuticals by 7.3% during the 2nd quarter. Cim Investment Management Inc. now owns 15,273 shares of the biopharmaceutical company’s stock worth $386,000 after purchasing an additional 1,034 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of ACADIA Pharmaceuticals in the second quarter valued at approximately $597,000. Integrated Wealth Concepts LLC bought a new stake in shares of ACADIA Pharmaceuticals in the second quarter valued at approximately $50,000. Baird Financial Group Inc. acquired a new stake in ACADIA Pharmaceuticals during the second quarter worth approximately $232,000. Finally, Nykredit A S acquired a new stake in ACADIA Pharmaceuticals during the second quarter worth approximately $38,000. 96.71% of the stock is owned by institutional investors.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system disorders and rare diseases. The company is headquartered in San Diego, California, and serves patients and healthcare providers primarily in the United States.

ACADIA’s commercial products include NUPLAZID (pimavanserin), an atypical antipsychotic approved in the United States for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis.