ACADIA Pharmaceuticals (NASDAQ:ACAD) Cut to "Neutral" at UBS Group

Key Points

• UBS downgraded ACADIA Pharmaceuticals from “buy” to “neutral” and set a $23 price target, implying 18.5% upside from the stock’s reported $19.41 price.
• Despite the downgrade, analyst sentiment remains favorable overall: ACADIA has 13 Buy and five Hold ratings, with a consensus “Moderate Buy” rating and an average target price of $31.34.
• ACADIA reported quarterly EPS of $0.18, exceeding estimates by $0.11, while revenue rose 16.4% year over year to $308 million. Insiders sold about 36,699 shares worth $1.02 million over the past 90 days.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) was downgraded by investment analysts at UBS Group from a "buy" rating to a "neutral" rating in a note issued to investors on Tuesday, MarketBeat Ratings reports. They presently have a $23.00 price objective on the biopharmaceutical company's stock. UBS Group's price target suggests a potential upside of 18.50% from the stock's current price.

A number of other research firms also recently weighed in on ACAD. Bank of America reaffirmed a "buy" rating and issued a $14.50 target price on shares of ACADIA Pharmaceuticals in a research report on Wednesday, July 29th. Morgan Stanley raised their target price on ACADIA Pharmaceuticals from $27.00 to $28.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 25th. Oppenheimer reiterated a "market perform" rating on shares of ACADIA Pharmaceuticals in a research report on Wednesday, September 23rd. Wall Street Zen upgraded shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Sunday. Finally, Citizens Jmp dropped their price target on shares of ACADIA Pharmaceuticals from $36.00 to $33.00 and set a "market outperform" rating for the company in a research note on Friday, September 25th. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, ACADIA Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $31.34.

ACADIA Pharmaceuticals Stock Performance

NASDAQ:ACAD opened at $19.41 on Tuesday. ACADIA Pharmaceuticals has a 52-week low of $19.32 and a 52-week high of $30.96. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 8.74 and a beta of 0.88. The stock has a fifty day moving average of $26.26 and a 200 day moving average of $24.10.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.11. ACADIA Pharmaceuticals had a return on equity of 9.03% and a net margin of 33.42%. The business had revenue of $308.00 million for the quarter, compared to analysts' expectations of $296.55 million. During the same quarter in the prior year, the firm earned $0.16 earnings per share. The firm's revenue was up 16.4% on a year-over-year basis. Equities analysts forecast that ACADIA Pharmaceuticals will post 0.64 earnings per share for the current fiscal year.

Insider Activity at ACADIA Pharmaceuticals

In other news, EVP Elizabeth Thompson sold 16,558 shares of the company's stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $26.13, for a total transaction of $432,660.54. Following the completion of the sale, the executive vice president owned 18,994 shares of the company's stock, valued at $496,313.22. This represents a 46.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark C. Schneyer sold 14,292 shares of the firm's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $29.22, for a total value of $417,612.24. Following the completion of the sale, the executive vice president directly owned 67,828 shares of the company's stock, valued at $1,981,934.16. This trade represents a 17.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 36,699 shares of company stock valued at $1,019,894. Insiders own 26.20% of the company's stock.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in ACADIA Pharmaceuticals by 36.1% in the third 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 lifted its holdings in ACADIA Pharmaceuticals by 996.4% in the third quarter. Farther Finance Advisors LLC now owns 9,023 shares of the biopharmaceutical company's stock valued at $182,000 after acquiring an additional 8,200 shares during the period. Valeo Financial Advisors LLC purchased a new stake in shares of ACADIA Pharmaceuticals during the 3rd quarter worth approximately $424,000. Cim Investment Management Inc. increased its holdings in 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 acquiring an additional 1,034 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in ACADIA Pharmaceuticals during the 2nd quarter worth about $597,000. 96.71% of the stock is owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Company Profile

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.

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