ACADIA Pharmaceuticals (NASDAQ:ACAD) Price Target Lowered to $31.00 at JPMorgan Chase & Co.

ACADIA Pharmaceuticals (NASDAQ:ACAD) had its price objective decreased by equities research analysts at JPMorgan Chase & Co. from $33.00 to $31.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 27.73% from the company’s previous close.

A number of other equities research analysts have also commented on the stock. Cowen reaffirmed a “buy” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, September 11th. The Goldman Sachs Group increased their price target on ACADIA Pharmaceuticals from $15.00 to $17.00 and gave the stock a “sell” rating in a report on Thursday, August 7th. JMP Securities boosted their price objective on ACADIA Pharmaceuticals from $37.00 to $38.00 and gave the company a “market outperform” rating in a research note on Thursday, August 7th. Royal Bank Of Canada lowered their target price on ACADIA Pharmaceuticals from $34.00 to $32.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Finally, Mizuho increased their price target on ACADIA Pharmaceuticals from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $28.83.

ACADIA Pharmaceuticals Trading Up 1.0%

NASDAQ:ACAD traded up $0.25 during trading hours on Monday, hitting $24.27. 415,971 shares of the company were exchanged, compared to its average volume of 2,141,794. The stock has a market capitalization of $4.11 billion, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 7.90 and a beta of 0.80. ACADIA Pharmaceuticals has a one year low of $13.40 and a one year high of $26.65. The company has a fifty day simple moving average of $22.42 and a 200 day simple moving average of $22.31.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data 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 company had revenue of $278.63 million during the quarter, compared to the consensus estimate of $276.52 million. ACADIA Pharmaceuticals had a return on equity of 14.69% and a net margin of 21.80%.The firm’s revenue was up 11.3% compared to the same quarter last year. During the same period last year, the company earned $0.20 earnings per share. ACADIA Pharmaceuticals has set its FY 2025 guidance at EPS. Equities research analysts predict that ACADIA Pharmaceuticals will post 0.7 earnings per share for the current fiscal year.

Insider Transactions at ACADIA Pharmaceuticals

In related news, EVP Mark C. Schneyer sold 3,498 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $23.65, for a total value of $82,727.70. Following the transaction, the executive vice president directly owned 43,447 shares in the company, valued at $1,027,521.55. This trade represents a 7.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James M. Daly sold 30,000 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, November 10th. The shares were sold at an average price of $22.37, for a total transaction of $671,100.00. Following the completion of the sale, the director directly owned 4,041 shares of the company’s stock, valued at approximately $90,397.17. The trade was a 88.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 35,098 shares of company stock valued at $795,396 over the last ninety days. 26.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Maryland State Retirement & Pension System lifted its position in ACADIA Pharmaceuticals by 1.3% in the 2nd quarter. Maryland State Retirement & Pension System now owns 36,397 shares of the biopharmaceutical company’s stock valued at $785,000 after acquiring an additional 476 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in ACADIA Pharmaceuticals by 11.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,323 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 534 shares in the last quarter. Vise Technologies Inc. raised its stake in shares of ACADIA Pharmaceuticals by 4.0% in the third quarter. Vise Technologies Inc. now owns 15,367 shares of the biopharmaceutical company’s stock worth $328,000 after purchasing an additional 585 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of ACADIA Pharmaceuticals by 0.7% in the second quarter. Thrivent Financial for Lutherans now owns 91,067 shares of the biopharmaceutical company’s stock valued at $1,964,000 after purchasing an additional 626 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of ACADIA Pharmaceuticals by 25.8% in the third quarter. GAMMA Investing LLC now owns 3,361 shares of the biopharmaceutical company’s stock valued at $72,000 after purchasing an additional 690 shares in the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

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.