ACADIA Pharmaceuticals Faces Several Price Target Cuts After Q2 Results, But This Analyst Disagrees

ACADIA Pharmaceuticals Inc. ACAD reported upbeat results for its second quarter after the closing bell on Monday.

ACADIA Pharmaceuticals posted a quarterly loss of $0.21 per share on sales of $134.56 million. Analysts, however, were expecting a loss of $0.25 per share on sales of $130.43 million.

ACAD shares fell 3.7% to $16.01 in pre-market trading.

Several analysts made changes to their price targets on ACADIA Pharmaceuticals today.

• SVB Leerink cut price target on the stock from $27 to $21. However, SVB Leerink analyst Marc Goodman maintained ACADIA Pharmaceuticals with an Outperform.
• RBC Capital lowered ACADIA Pharmaceuticals price target from $26 to $21. However, RBC Capital analyst Gregory Renza maintained an Outperform rating on the stock.
• Goldman Sachs reduced price target on the stock from $20 to $15. However, Goldman Sachs analyst Salveen Richter maintained a Neutral rating on the stock.
• Mizuho cut the price target on ACADIA Pharmaceuticals from $27 to $19. However, Mizuho analyst Vamil Divan maintained the stock with a Neutral rating.

However, this analyst raised the price target on ACAD.

• HC Wainwright & Co. boosted the price target on the stock from $20 to $25. However, HC Wainwright & Co. analyst Andrew Fein maintained a Buy rating on the stock.