HC Wainwright Has Lowered Expectations for ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Price

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price target decreased by investment analysts at HC Wainwright from $37.00 to $33.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price points to a potential upside of 56.66% from the company’s current price.

Several other research firms also recently commented on ACAD. Citizens Jmp reduced their price objective on ACADIA Pharmaceuticals from $36.00 to $33.00 and set a “market outperform” rating for the company in a report on Friday. BMO Capital Markets dropped their price target on shares of ACADIA Pharmaceuticals from $36.00 to $34.00 and set an “outperform” rating on the stock in a report on Thursday. Weiss Ratings raised shares of ACADIA Pharmaceuticals from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 12th. Royal Bank Of Canada lifted their price target on shares of ACADIA Pharmaceuticals from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Finally, Morgan Stanley boosted their price objective on shares of ACADIA Pharmaceuticals from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Tuesday, August 25th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.14.

ACADIA Pharmaceuticals Trading Down 5.0%

ACAD stock traded down $1.11 during midday trading on Friday, hitting $21.07. The company’s stock had a trading volume of 502,549 shares, compared to its average volume of 1,681,486. The company has a market cap of $3.63 billion, a PE ratio of 9.48 and a beta of 0.86. ACADIA Pharmaceuticals has a 12 month low of $19.69 and a 12 month high of $30.96. The firm’s 50-day moving average is $27.60 and its 200-day moving average is $24.21.

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

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 14,292 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $29.22, for a total transaction of $417,612.24. Following the completion of the transaction, the executive vice president owned 67,828 shares in the company, valued at $1,981,934.16. This trade represents a 17.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Elizabeth Thompson sold 16,558 shares of ACADIA Pharmaceuticals 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 completion of the transaction, the executive vice president directly owned 18,994 shares of the company’s stock, valued at $496,313.22. The trade was a 46.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 36,699 shares of company stock valued at $1,019,894. Corporate insiders own 26.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ACAD. Nykredit A S purchased a new stake in ACADIA Pharmaceuticals during the second quarter valued at approximately $38,000. Integrated Wealth Concepts LLC purchased a new stake in ACADIA Pharmaceuticals during the 2nd quarter valued at $50,000. Global Retirement Partners LLC bought a new stake in ACADIA Pharmaceuticals in the second quarter worth $64,000. GAMMA Investing LLC lifted its position in ACADIA Pharmaceuticals by 15.6% in the second quarter. GAMMA Investing LLC now owns 2,985 shares of the biopharmaceutical company’s stock worth $76,000 after buying an additional 402 shares during the last quarter. Finally, Transamerica Financial Advisors LLC purchased a new position in ACADIA Pharmaceuticals during the second quarter worth $104,000. Institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals News Roundup

Here are the key news stories impacting ACADIA Pharmaceuticals this week:

• Positive Sentiment: ACADIA said the 60 mg once-daily dose reduced hallucinations and delusions more than placebo, although the improvement narrowly missed statistical significance on the study’s primary six-week endpoint. The company believes the data support advancing remlifanserin into Phase 3, citing favorable safety and efficacy trends. ACADIA Phase 2 RADIANT results
• Positive Sentiment: Needham reaffirmed its Buy rating and maintained a $41 price target, while Citigroup kept a Buy rating despite reducing its target to $33 from $40. These targets indicate that some analysts still see meaningful upside if the Phase 3 program succeeds. Citizens lowers ACADIA price target
• Neutral Sentiment: ACADIA plans to proceed with Phase 3 development, but the decision increases spending and execution risk for a program whose pivotal design and likelihood of success are now under greater scrutiny.
• Negative Sentiment: The primary endpoint miss was the main catalyst for the selloff. Although the high-dose arm showed a positive trend, the effect size was considered modest, raising concerns about clinical usefulness and whether the result can be reproduced in Phase 3. Reuters report on the Phase 2 endpoint miss
• Negative Sentiment: Analysts became more cautious following the results: Citi reportedly cut its estimated probability of remlifanserin success to 20%, while other commentary placed the odds near 25%. BMO also lowered its price target to $34 amid heavy selling. Yahoo Finance report on analyst reaction

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing medicines for neurological and psychiatric disorders. The company is headquartered in San Diego, California, and conducts research and commercial activities primarily in the United States.

ACADIA’s marketed products include NUPLAZID (pimavanserin), an atypical antipsychotic approved for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis. The company also markets DAYBUE (trofinetide), a therapy for Rett syndrome, a rare neurodevelopmental disorder.

Founded in 1993, ACADIA continues to advance a pipeline of therapies for central nervous system conditions, including additional neurological and psychiatric disorders.