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

StockNews.com lowered shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) from a strong-buy rating to a buy rating in a research note issued to investors on Monday morning.

ACAD has been the subject of several other research reports. BMO Capital Markets started coverage on shares of ACADIA Pharmaceuticals in a report on Thursday, June 27th. They issued an outperform rating and a $31.00 price target for the company. Bank of America lowered their target price on ACADIA Pharmaceuticals from $26.00 to $22.00 and set a neutral rating for the company in a report on Friday, May 10th. JPMorgan Chase & Co. lowered their target price on ACADIA Pharmaceuticals from $29.00 to $25.00 and set an overweight rating for the company in a report on Monday, March 25th. Robert W. Baird lowered their target price on ACADIA Pharmaceuticals from $31.00 to $28.00 and set an outperform rating for the company in a report on Thursday, May 9th. Finally, Citigroup lowered their target price on ACADIA Pharmaceuticals from $30.19 to $30.00 and set a buy rating for the company in a report on Thursday, May 9th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals has a consensus rating of Moderate Buy and an average target price of $28.59.

ACADIA Pharmaceuticals Stock Performance

Shares of ACADIA Pharmaceuticals stock opened at $18.55 on Monday. The firm has a fifty day moving average of $16.04 and a two-hundred day moving average of $19.72. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of -1,853.15 and a beta of 0.38. ACADIA Pharmaceuticals has a 52 week low of $14.55 and a 52 week high of $32.59.

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

Insider Activity at ACADIA Pharmaceuticals

In other news, COO Brendan Teehan sold 3,477 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total transaction of $58,900.38. Following the transaction, the chief operating officer now owns 42,133 shares in the company, valued at $713,733.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Stephen Davis sold 11,427 shares of the 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 directly owns 155,231 shares of the company’s stock, valued at approximately $2,629,613.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Brendan Teehan sold 3,477 shares of the company’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 $58,900.38. Following the sale, the chief operating officer now owns 42,133 shares in the company, valued at $713,733.02. The disclosure for this sale can be found here. Insiders have sold a total of 20,708 shares of company stock worth $348,697 over the last quarter. Company insiders own 28.30% of the company’s stock.

Institutional Trading of ACADIA Pharmaceuticals

A number of institutional investors have recently modified their holdings of the business. Fisher Asset Management LLC purchased a new stake in ACADIA Pharmaceuticals in the 4th quarter worth approximately $4,479,000. Perceptive Advisors LLC purchased a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter valued at $3,162,000. Jump Financial LLC raised its position in shares of ACADIA Pharmaceuticals by 326.3% during the 4th quarter. Jump Financial LLC now owns 116,341 shares of the biopharmaceutical company’s stock valued at $3,643,000 after buying an additional 89,053 shares in the last quarter. M&G Investment Management Ltd. purchased a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter valued at $10,349,000. Finally, UBS Group AG raised its position in shares of ACADIA Pharmaceuticals by 112.4% during the 4th quarter. UBS Group AG now owns 307,359 shares of the biopharmaceutical company’s stock valued at $9,623,000 after buying an additional 162,663 shares in the last quarter. 96.71% of the stock is currently owned by hedge funds and other 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.