ACADIA Pharmaceuticals (NASDAQ:ACAD) Given New $45.00 Price Target at Cantor Fitzgerald


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ACADIA Pharmaceuticals (NASDAQ:ACAD) had its target price boosted by research analysts at Cantor Fitzgerald from $33.00 to $45.00 in a research note issued on Tuesday, The Fly reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 111.96% from the stock’s current price. The analysts noted that the move was a valuation call.

Other analysts have also recently issued research reports about the stock. Royal Bank of Canada dropped their price objective on shares of ACADIA Pharmaceuticals from $60.00 to $36.00 and set an “outperform” rating for the company in a research note on Tuesday, March 9th. Guggenheim reaffirmed a “neutral” rating on shares of ACADIA Pharmaceuticals in a research note on Monday, March 15th. Cowen dropped their price target on shares of ACADIA Pharmaceuticals from $66.00 to $57.00 and set an “outperform” rating for the company in a research note on Tuesday, March 9th. TheStreet raised shares of ACADIA Pharmaceuticals from a “d” rating to a “c-” rating in a research note on Wednesday, February 24th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $27.00 price target (down previously from $68.00) on shares of ACADIA Pharmaceuticals in a research note on Monday, March 15th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $33.78.

Shares of NASDAQ ACAD opened at $21.23 on Tuesday. ACADIA Pharmaceuticals has a 12-month low of $20.36 and a 12-month high of $58.72. The stock has a market cap of $3.40 billion, a PE ratio of -12.34 and a beta of 1.44. The company has a 50-day moving average of $35.76 and a 200 day moving average of $46.24.

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

In related news, President Srdjan R. Stankovic sold 700 shares of the stock in a transaction that occurred on Tuesday, January 12th. The shares were sold at an average price of $55.01, for a total transaction of $38,507.00. Following the completion of the transaction, the president now owns 20,947 shares of the company’s stock, valued at approximately $1,152,294.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Srdjan R. Stankovic sold 29,733 shares of the stock in a transaction that occurred on Friday, January 8th. The stock was sold at an average price of $55.22, for a total transaction of $1,641,856.26. Following the sale, the president now owns 21,972 shares in the company, valued at $1,213,293.84. The disclosure for this sale can be found here. Insiders have sold a total of 57,215 shares of company stock valued at $3,035,800 in the last ninety days. 27.70% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in ACAD. Charles Schwab Investment Management Inc. lifted its holdings in ACADIA Pharmaceuticals by 21.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 895,547 shares of the biopharmaceutical company’s stock worth $36,942,000 after buying an additional 160,482 shares in the last quarter. ProShare Advisors LLC lifted its holdings in ACADIA Pharmaceuticals by 2.5% during the 3rd quarter. ProShare Advisors LLC now owns 27,401 shares of the biopharmaceutical company’s stock worth $1,130,000 after buying an additional 668 shares in the last quarter. Truist Financial Corp lifted its holdings in ACADIA Pharmaceuticals by 79.4% during the 3rd quarter. Truist Financial Corp now owns 29,368 shares of the biopharmaceutical company’s stock worth $1,211,000 after buying an additional 13,002 shares in the last quarter. Morgan Stanley lifted its holdings in ACADIA Pharmaceuticals by 179.2% during the 3rd quarter. Morgan Stanley now owns 485,639 shares of the biopharmaceutical company’s stock worth $20,032,000 after buying an additional 311,707 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in ACADIA Pharmaceuticals by 86.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,657 shares of the biopharmaceutical company’s stock worth $151,000 after buying an additional 1,694 shares in the last quarter. 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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