ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Rating Lowered by StockNews.com

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "buy" rating to a "hold" rating in a report released on Monday.

A number of other research firms have also commented on ACAD. Morgan Stanley restated an "equal weight" rating and set a $20.00 price target on shares of ACADIA Pharmaceuticals in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They issued a "hold" rating and a $22.00 price target for the company. Needham & Company LLC reissued a "buy" rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note on Tuesday, April 8th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $24.70.

ACADIA Pharmaceuticals Stock Performance

Shares of ACADIA Pharmaceuticals stock traded up $0.08 during mid-day trading on Monday, hitting $17.52. 2,347,907 shares of the stock were exchanged, compared to its average volume of 1,857,905. ACADIA Pharmaceuticals has a 12 month low of $13.40 and a 12 month high of $20.68. The company has a 50-day simple moving average of $15.82 and a 200 day simple moving average of $17.00. The company has a market capitalization of $2.93 billion, a P/E ratio of 22.46 and a beta of 0.47.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. The company had revenue of $244.32 million for the quarter, compared to analysts' expectations of $239.32 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. ACADIA Pharmaceuticals's revenue was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 EPS. Analysts predict that ACADIA Pharmaceuticals will post 0.7 EPS for the current year.

Insider Activity at ACADIA Pharmaceuticals

In other news, EVP Mark C. Schneyer sold 2,708 shares of the business's stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $14.82, for a total value of $40,132.56. Following the completion of the sale, the executive vice president now owns 59,456 shares in the company, valued at approximately $881,137.92. The trade was a 4.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Elizabeth A. Garofalo sold 4,919 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total transaction of $89,673.37. Following the transaction, the director now owns 17,595 shares of the company's stock, valued at approximately $320,756.85. This trade represents a 21.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,994 shares of company stock worth $313,131 in the last 90 days. 26.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several large investors have recently made changes to their positions in ACAD. Vanguard Group Inc. boosted its stake in ACADIA Pharmaceuticals by 9.0% during the first quarter. Vanguard Group Inc. now owns 15,203,234 shares of the biopharmaceutical company's stock worth $252,526,000 after buying an additional 1,255,594 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of ACADIA Pharmaceuticals in the first quarter valued at approximately $60,845,000. First Trust Advisors LP boosted its stake in shares of ACADIA Pharmaceuticals by 27.0% in the fourth quarter. First Trust Advisors LP now owns 2,700,125 shares of the biopharmaceutical company's stock valued at $49,547,000 after purchasing an additional 574,251 shares during the period. SG Americas Securities LLC boosted its stake in shares of ACADIA Pharmaceuticals by 380.3% in the fourth quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company's stock valued at $45,576,000 after purchasing an additional 1,966,607 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $40,935,000. 96.71% of the stock is currently owned by institutional investors and hedge funds.

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.

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