ACADIA Pharmaceuticals (NASDAQ:ACAD) had its target price reduced by Morgan Stanley from $50.00 to $28.00 in a report issued on Tuesday, The Fly reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price target suggests a potential upside of 31.89% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Cantor Fitzgerald raised their target price on ACADIA Pharmaceuticals from $33.00 to $45.00 and gave the stock an “overweight” rating in a report on Tuesday. They noted that the move was a valuation call. HC Wainwright decreased their target price on ACADIA Pharmaceuticals from $60.00 to $43.00 and set a “buy” rating on the stock in a report on Monday, March 15th. Oppenheimer decreased their target price on ACADIA Pharmaceuticals from $42.00 to $28.00 and set a “market perform” rating on the stock in a report on Tuesday, March 9th. The Goldman Sachs Group cut ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $73.00 to $25.00 in a report on Monday. Finally, Zacks Investment Research cut ACADIA Pharmaceuticals from a “hold” rating to a “sell” rating and set a $51.00 target price on the stock. in a report on Thursday, January 28th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $33.78.

NASDAQ ACAD opened at $21.23 on Tuesday. The business’s fifty day moving average price is $35.76 and its 200-day moving average price is $46.24. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of -12.34 and a beta of 1.44. ACADIA Pharmaceuticals has a 1-year low of $20.36 and a 1-year high of $58.72.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Tuesday, February 23rd. The biopharmaceutical company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.05. The firm 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%. As a group, analysts expect that ACADIA Pharmaceuticals will post -1.84 EPS for the current fiscal year.

In related news, CEO Stephen Davis sold 14,195 shares of ACADIA Pharmaceuticals stock in a transaction dated Thursday, February 4th. The stock was sold at an average price of $50.61, for a total value of $718,408.95. Following the completion of the transaction, the chief executive officer now owns 43,059 shares in the company, valued at $2,179,215.99. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Srdjan R. Stankovic sold 29,733 shares of ACADIA Pharmaceuticals stock in a transaction dated Friday, January 8th. The stock was sold at an average price of $55.22, for a total value of $1,641,856.26. Following the completion of the transaction, the president now owns 21,972 shares of the company’s stock, valued at approximately $1,213,293.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,215 shares of company stock valued at $3,035,800. Company insiders own 27.70% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Swiss National Bank grew its position in ACADIA Pharmaceuticals by 1.7% in the fourth 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. Point72 Asset Management L.P. grew its position in ACADIA Pharmaceuticals by 191.3% in the third quarter. Point72 Asset Management L.P. now owns 578,195 shares of the biopharmaceutical company’s stock worth $23,851,000 after acquiring an additional 379,685 shares in the last quarter. Sei Investments Co. grew its position in ACADIA Pharmaceuticals by 30.4% in the fourth 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 grew its position in ACADIA Pharmaceuticals by 144.4% in the fourth 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. Finally, Perigon Wealth Management LLC purchased a new position in ACADIA Pharmaceuticals in the fourth quarter worth about $86,000. Institutional investors 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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The Fly

Analyst Recommendations for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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