ValuEngine Downgrades ACADIA Pharmaceuticals (ACAD) to Sell

ValuEngine lowered shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) from a hold rating to a sell rating in a research report sent to investors on Tuesday, November 14th.

ACAD has been the subject of several other reports. Zacks Investment Research cut ACADIA Pharmaceuticals from a buy rating to a sell rating in a research note on Monday, July 17th. BidaskClub raised ACADIA Pharmaceuticals from a sell rating to a hold rating in a research report on Monday, July 24th. Leerink Swann reaffirmed a market perform rating on shares of ACADIA Pharmaceuticals in a research report on Monday, October 9th. HC Wainwright reissued a buy rating and issued a $60.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 5th. Finally, Cowen reissued an outperform rating and issued a $46.00 target price (up from $42.00) on shares of ACADIA Pharmaceuticals in a research report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $47.44.

ACADIA Pharmaceuticals (ACAD) traded down $0.09 during mid-day trading on Tuesday, hitting $30.16. The company had a trading volume of 1,812,941 shares, compared to its average volume of 1,847,616. ACADIA Pharmaceuticals has a 52-week low of $24.31 and a 52-week high of $41.20.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.63) by $0.10. ACADIA Pharmaceuticals had a negative return on equity of 67.68% and a negative net margin of 320.71%. The firm had revenue of $35.58 million for the quarter, compared to the consensus estimate of $32.03 million. During the same quarter in the previous year, the business earned ($0.61) EPS. The company’s quarterly revenue was up 571.3% compared to the same quarter last year. research analysts forecast that ACADIA Pharmaceuticals will post -2.42 earnings per share for the current fiscal year.

In other ACADIA Pharmaceuticals news, EVP Glenn Baity sold 37,500 shares of the stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $40.91, for a total transaction of $1,534,125.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 22.25% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. Teachers Advisors LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 2.2% during the first quarter. Teachers Advisors LLC now owns 125,022 shares of the biopharmaceutical company’s stock worth $4,298,000 after purchasing an additional 2,722 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of ACADIA Pharmaceuticals by 138.8% during the first quarter. PNC Financial Services Group Inc. now owns 4,384 shares of the biopharmaceutical company’s stock worth $150,000 after purchasing an additional 2,548 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of ACADIA Pharmaceuticals by 173.5% during the first quarter. Legal & General Group Plc now owns 32,968 shares of the biopharmaceutical company’s stock worth $1,133,000 after purchasing an additional 20,916 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of ACADIA Pharmaceuticals by 2,500.1% during the first quarter. Dimensional Fund Advisors LP now owns 198,620 shares of the biopharmaceutical company’s stock worth $6,828,000 after purchasing an additional 190,981 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of ACADIA Pharmaceuticals by 5,422.8% during the first quarter. BlackRock Inc. now owns 5,433,209 shares of the biopharmaceutical company’s stock worth $186,791,000 after purchasing an additional 5,334,832 shares during the last quarter. Hedge funds and other institutional investors own 93.49% of the company’s stock.

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ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system (CNS) disorders. Its lead drug candidate, NUPLAZID (pimavanserin), is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis (PD Psychosis).

To view ValuEngine’s full report, visit ValuEngine’s official website.

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