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

ACADIA Pharmaceuticals (NASDAQ:ACAD) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Several other equities analysts have also issued reports on ACAD. Citigroup lifted their target price on ACADIA Pharmaceuticals from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Stifel Nicolaus set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Tuesday, December 16th. Mizuho lifted their target price on ACADIA Pharmaceuticals from $24.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, December 2nd. HC Wainwright lifted their price objective on ACADIA Pharmaceuticals from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, December 15th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 target price on shares of ACADIA Pharmaceuticals in a report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.16.

ACADIA Pharmaceuticals Stock Performance

ACAD opened at $25.13 on Friday. The stock’s 50 day moving average price is $26.49 and its 200-day moving average price is $24.39. ACADIA Pharmaceuticals has a one year low of $13.40 and a one year high of $28.35. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of 16.21, a P/E/G ratio of 6.22 and a beta of 0.68.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.28. ACADIA Pharmaceuticals had a return on equity of 14.61% and a net margin of 24.94%.The company had revenue of $278.63 million during the quarter, compared to analysts’ expectations of $276.52 million. During the same quarter in the previous year, the business earned $0.20 EPS. ACADIA Pharmaceuticals’s revenue was up 11.3% compared to the same quarter last year. As a group, analysts predict that ACADIA Pharmaceuticals will post 0.7 earnings per share for the current fiscal year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, Director James M. Daly sold 30,000 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $22.37, for a total value of $671,100.00. Following the completion of the sale, the director owned 4,041 shares of the company’s stock, valued at $90,397.17. This represents a 88.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mark C. Schneyer sold 10,262 shares of the firm’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $23.69, for a total value of $243,106.78. Following the sale, the executive vice president directly owned 53,338 shares of the company’s stock, valued at approximately $1,263,577.22. This trade represents a 16.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 44,346 shares of company stock worth $1,010,957 in the last three months. 26.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC acquired a new position in shares of ACADIA Pharmaceuticals during the second quarter worth $511,000. Norges Bank purchased a new stake in shares of ACADIA Pharmaceuticals in the 2nd quarter valued at about $31,679,000. TFG Asset Management GP Ltd lifted its stake in ACADIA Pharmaceuticals by 50.8% in the second quarter. TFG Asset Management GP Ltd now owns 161,396 shares of the biopharmaceutical company’s stock valued at $3,481,000 after buying an additional 54,396 shares during the last quarter. First Trust Advisors LP raised its position in ACADIA Pharmaceuticals by 2.8% in the 2nd quarter. First Trust Advisors LP now owns 2,434,376 shares of the biopharmaceutical company’s stock valued at $52,509,000 after purchasing an additional 65,914 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of ACADIA Pharmaceuticals by 613.4% in the third quarter. SG Americas Securities LLC now owns 39,680 shares of the biopharmaceutical company’s stock valued at $847,000 after buying an additional 34,118 shares during the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.