ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Bumped Down to Hold by Wall Street Zen

Wall Street Zen cut shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) from a buy rating to a hold rating in a report issued on Saturday morning,Wall Street Zen reports.

Several other analysts have also issued reports on ACAD. HC Wainwright reduced their target price on shares of ACADIA Pharmaceuticals from $37.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, September 25th. 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 research report on Thursday, September 24th. UBS Group boosted their price target on shares of ACADIA Pharmaceuticals from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Bank of America restated a “buy” rating and set a $14.50 price target on shares of ACADIA Pharmaceuticals in a report on Wednesday, July 29th. Finally, Stifel Nicolaus upped their price objective on shares of ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.76.

ACADIA Pharmaceuticals Stock Up 0.3%

Shares of ACADIA Pharmaceuticals stock opened at $19.95 on Friday. The company has a market cap of $3.44 billion, a PE ratio of 8.99 and a beta of 0.88. ACADIA Pharmaceuticals has a 52 week low of $19.59 and a 52 week high of $30.96. The business has a 50 day moving average price of $27.01 and a 200-day moving average price of $24.13.

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

Insiders Place Their Bets

In related news, EVP Mark Schneyer sold 14,292 shares of the business’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $29.22, for a total value of $417,612.24. Following the transaction, the executive vice president directly owned 67,828 shares of the company’s stock, valued at approximately $1,981,934.16. The trade was a 17.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Elizabeth Thompson sold 16,558 shares of the business’s stock in a transaction dated 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 in the company, valued at $496,313.22. This trade represents a 46.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 36,699 shares of company stock worth $1,019,894 over the last quarter. Company insiders own 26.20% of the company’s stock.

Institutional Trading of ACADIA Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the stock. Cim Investment Management Inc. boosted its stake in ACADIA Pharmaceuticals by 7.3% in the second quarter. Cim Investment Management Inc. now owns 15,273 shares of the biopharmaceutical company’s stock valued at $386,000 after acquiring an additional 1,034 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of ACADIA Pharmaceuticals during the 2nd quarter worth approximately $597,000. Integrated Wealth Concepts LLC bought a new stake in shares of ACADIA Pharmaceuticals in the 2nd quarter worth approximately $50,000. Baird Financial Group Inc. bought a new stake in shares of ACADIA Pharmaceuticals in the 2nd quarter worth approximately $232,000. Finally, Nykredit A S purchased a new position in ACADIA Pharmaceuticals in the second quarter valued at approximately $38,000. Institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system disorders and rare diseases. The company is headquartered in San Diego, California, and serves patients and healthcare providers primarily in the United States.

ACADIA’s commercial products include NUPLAZID (pimavanserin), an atypical antipsychotic approved in the United States for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis.