ACADIA Pharmaceuticals (NASDAQ:ACAD) Cut to Hold at Wall Street Zen

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

A number of other equities research analysts have also commented on ACAD. Stifel Nicolaus increased their price target on ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. BMO Capital Markets reduced their price objective on ACADIA Pharmaceuticals from $36.00 to $34.00 and set an “outperform” rating on the stock in a research note on Thursday, September 24th. Needham & Company LLC decreased their target price on ACADIA Pharmaceuticals from $41.00 to $35.00 and set a “buy” rating on the stock in a report on Friday, September 25th. TD Cowen restated a “buy” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, September 24th. Finally, Canaccord Genuity Group lifted their price target on ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the company a “buy” rating in a report on Monday, June 29th. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.76.

ACADIA Pharmaceuticals Stock Up 0.8%

Shares of ACAD stock opened at $20.11 on Friday. The company has a market capitalization of $3.47 billion, a P/E ratio of 9.06 and a beta of 0.88. ACADIA Pharmaceuticals has a 12-month low of $19.57 and a 12-month high of $30.96. The firm has a 50-day moving average price of $26.91 and a 200 day moving average price of $24.14.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.11. The firm had revenue of $308.00 million for the quarter, compared to analysts’ expectations of $296.55 million. ACADIA Pharmaceuticals had a net margin of 33.42% and a return on equity of 9.03%. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.16 earnings per share. As a group, research analysts expect that ACADIA Pharmaceuticals will post 0.64 earnings per share for the current year.

Insider Activity at ACADIA Pharmaceuticals

In related news, EVP Mark Schneyer sold 14,292 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $29.22, for a total value of $417,612.24. Following the completion of the transaction, the executive vice president owned 67,828 shares in the company, valued at $1,981,934.16. The trade was a 17.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Elizabeth Thompson sold 16,558 shares of the company’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $26.13, for a total value of $432,660.54. Following the transaction, the executive vice president directly owned 18,994 shares in the company, valued at approximately $496,313.22. This represents a 46.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 36,699 shares of company stock valued at $1,019,894 in the last 90 days. 26.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Nykredit A S acquired a new stake in ACADIA Pharmaceuticals in the second quarter worth about $38,000. Integrated Wealth Concepts LLC bought a new stake in ACADIA Pharmaceuticals during the 2nd quarter worth about $50,000. Global Retirement Partners LLC acquired a new position in ACADIA Pharmaceuticals during the 2nd quarter valued at about $64,000. GAMMA Investing LLC lifted its position in ACADIA Pharmaceuticals by 15.6% during the 2nd quarter. GAMMA Investing LLC now owns 2,985 shares of the biopharmaceutical company’s stock valued at $76,000 after purchasing an additional 402 shares during the period. Finally, Transamerica Financial Advisors LLC bought a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter valued at about $104,000. Institutional investors own 96.71% of the company’s stock.

About ACADIA Pharmaceuticals

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.