ACADIA Pharmaceuticals (NASDAQ:ACAD) Downgraded by Wall Street Zen to Hold

Wall Street Zen downgraded shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) from a buy rating to a hold rating in a research report released on Monday morning,Wall Street Zen reports.

A number of other research analysts have also commented on ACAD. Royal Bank Of Canada decreased their price target on shares of ACADIA Pharmaceuticals from $37.00 to $36.00 and set an “outperform” rating on the stock in a research note on Thursday, October 8th. Weiss Ratings upgraded shares of ACADIA Pharmaceuticals from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, August 12th. William Blair set a $33.00 price objective on ACADIA Pharmaceuticals in a report on Monday, September 28th. UBS Group downgraded ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their target price for the company from $49.00 to $23.00 in a research report on Tuesday, October 13th. Finally, Morgan Stanley upped their target price on ACADIA Pharmaceuticals from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 25th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.34.

ACADIA Pharmaceuticals Trading Up 3.6%

NASDAQ ACAD opened at $19.80 on Monday. ACADIA Pharmaceuticals has a 12 month low of $18.39 and a 12 month high of $30.96. The stock has a 50 day moving average of $25.33 and a 200-day moving average of $24.02. The company has a market cap of $3.41 billion, a PE ratio of 8.92 and a beta of 0.88.

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

Insider Activity

In other ACADIA Pharmaceuticals news, EVP Elizabeth Thompson sold 16,558 shares of ACADIA Pharmaceuticals 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 completion of the transaction, the executive vice president directly owned 18,994 shares of the company’s stock, valued at $496,313.22. The trade was a 46.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark C. 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 completion of the transaction, the executive vice president directly owned 67,828 shares of the company’s stock, valued at approximately $1,981,934.16. This trade represents a 17.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 36,699 shares of company stock worth $1,019,894 over the last 90 days. 26.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ACAD. Assenagon Asset Management S.A. lifted its holdings in shares of ACADIA Pharmaceuticals by 1,489.2% in the third quarter. Assenagon Asset Management S.A. now owns 334,556 shares of the biopharmaceutical company’s stock worth $6,741,000 after acquiring an additional 313,504 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of ACADIA Pharmaceuticals by 36.1% in the 3rd quarter. GAMMA Investing LLC now owns 4,064 shares of the biopharmaceutical company’s stock valued at $82,000 after purchasing an additional 1,079 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of ACADIA Pharmaceuticals by 996.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 9,023 shares of the biopharmaceutical company’s stock valued at $182,000 after purchasing an additional 8,200 shares during the last quarter. Valeo Financial Advisors LLC bought a new stake in shares of ACADIA Pharmaceuticals during the 3rd quarter valued at approximately $424,000. Finally, Cim Investment Management Inc. grew its holdings in shares of ACADIA Pharmaceuticals by 7.3% during the 2nd quarter. Cim Investment Management Inc. now owns 15,273 shares of the biopharmaceutical company’s stock valued at $386,000 after purchasing an additional 1,034 shares during the last quarter. 96.71% of the stock is owned by institutional investors.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system and neuropsychiatric disorders. The company’s research programs target conditions with significant unmet medical needs, including neurological and rare neurodevelopmental diseases.

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