JPMorgan Chase & Co. Lowers ACADIA Pharmaceuticals (NASDAQ:ACAD) Price Target to $25.00

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price objective decreased by JPMorgan Chase & Co. from $29.00 to $25.00 in a research note issued to investors on Monday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently commented on the company. HC Wainwright reissued a buy rating and issued a $33.00 target price on shares of ACADIA Pharmaceuticals in a research note on Wednesday, February 28th. Oppenheimer reissued a market perform rating and issued a $25.00 target price on shares of ACADIA Pharmaceuticals in a research note on Monday, February 5th. Cantor Fitzgerald reissued an overweight rating and issued a $42.00 target price on shares of ACADIA Pharmaceuticals in a research note on Wednesday, February 28th. Citigroup started coverage on ACADIA Pharmaceuticals in a research note on Wednesday, December 13th. They issued a buy rating and a $38.00 target price for the company. Finally, StockNews.com raised ACADIA Pharmaceuticals from a hold rating to a buy rating in a research note on Tuesday, January 30th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals presently has an average rating of Moderate Buy and a consensus target price of $36.12.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD opened at $18.49 on Monday. The stock has a fifty day moving average price of $23.67 and a two-hundred day moving average price of $24.43. ACADIA Pharmaceuticals has a 52-week low of $17.56 and a 52-week high of $33.99. The company has a market cap of $3.05 billion, a price-to-earnings ratio of -48.66 and a beta of 0.40.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.04). ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The business had revenue of $231.04 million during the quarter, compared to the consensus estimate of $223.79 million. During the same quarter in the previous year, the firm posted ($0.26) EPS. The company’s revenue for the quarter was up 69.3% compared to the same quarter last year. As a group, research analysts predict that ACADIA Pharmaceuticals will post 0.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 3,732 shares of ACADIA Pharmaceuticals stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $29.96, for a total transaction of $111,810.72. Following the transaction, the chief executive officer now directly owns 96,521 shares in the company, valued at $2,891,769.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Stephen Davis sold 3,732 shares of the business’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $29.96, for a total value of $111,810.72. Following the sale, the chief executive officer now directly owns 96,521 shares in the company, valued at $2,891,769.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark C. Schneyer sold 5,434 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $17.90, for a total value of $97,268.60. Following the completion of the sale, the chief financial officer now owns 26,183 shares in the company, valued at $468,675.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,788 shares of company stock worth $841,461. Corporate insiders own 27.50% of the company’s stock.

Institutional Trading of ACADIA Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of ACAD. Norges Bank bought a new stake in ACADIA Pharmaceuticals during the fourth quarter worth about $31,110,000. RTW Investments LP raised its holdings in ACADIA Pharmaceuticals by 18.3% during the third quarter. RTW Investments LP now owns 11,576,537 shares of the biopharmaceutical company’s stock worth $241,255,000 after acquiring an additional 1,793,288 shares in the last quarter. State Street Corp raised its holdings in ACADIA Pharmaceuticals by 30.4% during the second quarter. State Street Corp now owns 6,593,950 shares of the biopharmaceutical company’s stock worth $92,909,000 after acquiring an additional 1,536,756 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in ACADIA Pharmaceuticals during the fourth quarter worth about $17,765,000. Finally, Man Group plc raised its holdings in ACADIA Pharmaceuticals by 4,022.0% during the fourth quarter. Man Group plc now owns 955,688 shares of the biopharmaceutical company’s stock worth $15,215,000 after acquiring an additional 932,503 shares in the last quarter. Institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Company Profile

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.