ACADIA Pharmaceuticals (NASDAQ:ACAD) Downgraded to “Buy” at StockNews.com

StockNews.com cut shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) from a strong-buy rating to a buy rating in a research report released on Monday morning.

Several other research analysts have also weighed in on ACAD. Robert W. Baird reduced their price objective on shares of ACADIA Pharmaceuticals from $31.00 to $28.00 and set an outperform rating on the stock in a research note on Thursday, May 9th. Morgan Stanley reduced their price objective on shares of ACADIA Pharmaceuticals from $30.00 to $28.00 and set an overweight rating on the stock in a research note on Friday, July 12th. Bank of America cut their price target on shares of ACADIA Pharmaceuticals from $26.00 to $22.00 and set a neutral rating on the stock in a research note on Friday, May 10th. Citigroup reduced their price target on shares of ACADIA Pharmaceuticals from $30.19 to $30.00 and set a buy rating for the company in a report on Thursday, May 9th. Finally, Oppenheimer reiterated a market perform rating and issued a $19.00 price target on shares of ACADIA Pharmaceuticals in a report on Monday, May 6th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $28.59.

ACADIA Pharmaceuticals Trading Up 0.4 %

ACAD opened at $18.55 on Monday. The stock has a market capitalization of $3.06 billion, a PE ratio of -1,853.15 and a beta of 0.38. ACADIA Pharmaceuticals has a 1-year low of $14.55 and a 1-year high of $32.59. The firm has a 50-day moving average price of $16.04 and a two-hundred day moving average price of $19.72.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.06. The firm had revenue of $205.83 million during the quarter, compared to analysts’ expectations of $208.31 million. ACADIA Pharmaceuticals had a negative net margin of 0.21% and a negative return on equity of 0.41%. The company’s quarterly revenue was up 73.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.27) EPS. On average, research analysts predict that ACADIA Pharmaceuticals will post 0.58 EPS for the current year.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 11,427 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total transaction of $193,573.38. Following the completion of the transaction, the chief executive officer now owns 155,231 shares in the company, valued at approximately $2,629,613.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Stephen Davis sold 11,427 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total transaction of $193,573.38. Following the completion of the sale, the chief executive officer now owns 155,231 shares of the company’s stock, valued at approximately $2,629,613.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Brendan Teehan sold 3,477 shares of ACADIA Pharmaceuticals stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total transaction of $58,900.38. Following the completion of the sale, the chief operating officer now directly owns 42,133 shares of the company’s stock, valued at approximately $713,733.02. The disclosure for this sale can be found here. Insiders sold a total of 20,708 shares of company stock worth $348,697 in the last quarter. 28.30% of the stock is owned by insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of hedge funds have recently made changes to their positions in ACAD. Empire Life Investments Inc. raised its stake in ACADIA Pharmaceuticals by 0.3% in the 4th quarter. Empire Life Investments Inc. now owns 174,815 shares of the biopharmaceutical company’s stock valued at $5,473,000 after acquiring an additional 467 shares during the period. Handelsbanken Fonder AB raised its stake in ACADIA Pharmaceuticals by 2.3% in the 4th quarter. Handelsbanken Fonder AB now owns 31,633 shares of the biopharmaceutical company’s stock valued at $990,000 after acquiring an additional 700 shares during the period. Swiss National Bank raised its stake in ACADIA Pharmaceuticals by 0.4% in the 1st quarter. Swiss National Bank now owns 210,604 shares of the biopharmaceutical company’s stock valued at $3,894,000 after acquiring an additional 800 shares during the period. Franklin Resources Inc. raised its stake in ACADIA Pharmaceuticals by 1.6% in the 4th quarter. Franklin Resources Inc. now owns 50,405 shares of the biopharmaceutical company’s stock valued at $1,578,000 after acquiring an additional 803 shares during the period. Finally, Covestor Ltd raised its stake in ACADIA Pharmaceuticals by 70.5% in the 1st quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 840 shares during the period. 96.71% of the stock is currently owned by institutional investors.

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.