Fintel reports that on December 13, 2023, Citigroup initiated coverage of Acadia Pharmaceuticals (NASDAQ:ACAD) with a Buy recommendation.
Analyst Price Forecast Suggests 17.33% Upside
As of November 27, 2023, the average one-year price target for Acadia Pharmaceuticals is 33.40. The forecasts range from a low of 14.14 to a high of $44.10. The average price target represents an increase of 17.33% from its latest reported closing price of 28.47.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Acadia Pharmaceuticals is 597MM, a decrease of 5.51%. The projected annual non-GAAP EPS is -0.80.
What is the Fund Sentiment?
There are 538 funds or institutions reporting positions in Acadia Pharmaceuticals. This is an increase of 34 owner(s) or 6.75% in the last quarter. Average portfolio weight of all funds dedicated to ACAD is 0.22%, a decrease of 4.36%. Total shares owned by institutions increased in the last three months by 0.91% to 166,970K shares. 
The put/call ratio of ACAD is 1.90, indicating a bearish outlook.
What are Other Shareholders Doing?
Baker Bros. Advisors holds 42,865K shares representing 26.11% ownership of the company. No change in the last quarter.
Rtw Investments holds 11,577K shares representing 7.05% ownership of the company. In it's prior filing, the firm reported owning 9,783K shares, representing an increase of 15.49%. The firm increased its portfolio allocation in ACAD by 14.11% over the last quarter.
EcoR1 Capital holds 5,991K shares representing 3.65% ownership of the company. No change in the last quarter.
Price T Rowe Associates holds 5,230K shares representing 3.19% ownership of the company. In it's prior filing, the firm reported owning 6,014K shares, representing a decrease of 14.99%. The firm decreased its portfolio allocation in ACAD by 20.42% over the last quarter.
D. E. Shaw holds 4,789K shares representing 2.92% ownership of the company. In it's prior filing, the firm reported owning 5,263K shares, representing a decrease of 9.90%. The firm decreased its portfolio allocation in ACAD by 37.66% over the last quarter.
Acadia Pharmaceuticals Background Information
(This description is provided by the company.)
Acadia is trailblazing breakthroughs in neuroscience to elevate life. For more than 25 years it has been working at the forefront of healthcare to bring vital solutions to people who need them most. It developed and commercialized the first and only approved therapy for hallucinations and delusions associated with Parkinson's disease psychosis. Its late-stage development efforts are focused on dementia-related psychosis, negative symptoms of schizophrenia and Rett syndrome, and in early-stage clinical research it is exploring novel approaches to pain management, and cognition and neuropsychiatric symptoms in central nervous system disorders.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
