ACADIA Pharmaceuticals (NASDAQ:ACAD) Given New $32.00 Price Target at Royal Bank Of Canada

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its target price decreased by Royal Bank Of Canada from $34.00 to $32.00 in a research report released on Thursday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the biopharmaceutical company’s stock.

A number of other brokerages have also issued reports on ACAD. Cowen restated a “buy” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, September 11th. Needham & Company LLC boosted their price objective on ACADIA Pharmaceuticals from $28.00 to $29.00 and gave the company a “buy” rating in a report on Thursday. UBS Group increased their target price on ACADIA Pharmaceuticals from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday, September 9th. JMP Securities lifted their target price on ACADIA Pharmaceuticals from $37.00 to $38.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. lowered their price target on ACADIA Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.94.

ACADIA Pharmaceuticals Stock Up 4.2%

Shares of ACADIA Pharmaceuticals stock traded up $0.92 during trading on Thursday, hitting $22.57. 1,558,890 shares of the company were exchanged, compared to its average volume of 2,159,012. The firm has a 50 day moving average price of $22.69 and a 200 day moving average price of $21.84. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 16.97, a P/E/G ratio of 7.90 and a beta of 0.80. ACADIA Pharmaceuticals has a fifty-two week low of $13.40 and a fifty-two week high of $26.65.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.28. The firm had revenue of $278.63 million for the quarter, compared to analyst estimates of $276.52 million. ACADIA Pharmaceuticals had a net margin of 21.80% and a return on equity of 14.69%. ACADIA Pharmaceuticals’s revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.20 earnings per share. ACADIA Pharmaceuticals has set its FY 2025 guidance at EPS. Analysts predict that ACADIA Pharmaceuticals will post 0.7 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Mark C. Schneyer sold 22,000 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $25.18, for a total transaction of $553,960.00. Following the completion of the sale, the executive vice president directly owned 40,130 shares of the company’s stock, valued at $1,010,473.40. This represents a 35.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Elizabeth A. Garofalo sold 1,600 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $25.98, for a total transaction of $41,568.00. Following the completion of the transaction, the director owned 25,382 shares of the company’s stock, valued at approximately $659,424.36. The trade was a 5.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 27,098 shares of company stock valued at $678,256. 26.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of ACADIA Pharmaceuticals by 9.0% in the first quarter. Vanguard Group Inc. now owns 15,203,234 shares of the biopharmaceutical company’s stock valued at $252,526,000 after purchasing an additional 1,255,594 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of ACADIA Pharmaceuticals by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 3,024,097 shares of the biopharmaceutical company’s stock valued at $65,238,000 after acquiring an additional 69,584 shares in the last quarter. Fred Alger Management LLC grew its stake in shares of ACADIA Pharmaceuticals by 2.0% in the 1st quarter. Fred Alger Management LLC now owns 2,769,828 shares of the biopharmaceutical company’s stock valued at $46,007,000 after purchasing an additional 54,899 shares during the period. First Trust Advisors LP grew its position in ACADIA Pharmaceuticals by 2.8% in the second quarter. First Trust Advisors LP now owns 2,434,376 shares of the biopharmaceutical company’s stock valued at $52,509,000 after acquiring an additional 65,914 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of ACADIA Pharmaceuticals by 73.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,977,432 shares of the biopharmaceutical company’s stock worth $32,845,000 after purchasing an additional 838,728 shares in the last quarter. 96.71% of the stock is owned by institutional investors and hedge funds.

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.