ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Short Interest Down 5.2% in January

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) was the target of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 16,230,000 shares, a decrease of 5.2% from the January 15th total of 17,120,000 shares. Based on an average trading volume of 2,380,000 shares, the days-to-cover ratio is presently 6.8 days.

Analyst Ratings Changes

ACAD has been the subject of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Guggenheim lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their target price for the company from $23.00 to $20.00 in a research report on Friday, January 3rd. StockNews.com cut shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Needham & Company LLC restated a “buy” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They set a “hold” rating and a $22.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

ACADIA Pharmaceuticals Stock Performance

Shares of ACADIA Pharmaceuticals stock opened at $20.04 on Tuesday. ACADIA Pharmaceuticals has a 52-week low of $14.15 and a 52-week high of $26.56. The company’s 50 day moving average price is $18.03 and its 200-day moving average price is $16.67. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 25.69 and a beta of 0.37.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of ACADIA Pharmaceuticals by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 13,947,640 shares of the biopharmaceutical company’s stock valued at $255,939,000 after buying an additional 104,444 shares during the period. State Street Corp boosted its holdings in ACADIA Pharmaceuticals by 3.0% in the third quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company’s stock valued at $91,878,000 after acquiring an additional 173,084 shares in the last quarter. Fred Alger Management LLC increased its position in ACADIA Pharmaceuticals by 17.8% during the 3rd quarter. Fred Alger Management LLC now owns 3,186,389 shares of the biopharmaceutical company’s stock valued at $49,007,000 after purchasing an additional 481,950 shares during the period. Geode Capital Management LLC raised its holdings in ACADIA Pharmaceuticals by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,875,540 shares of the biopharmaceutical company’s stock worth $44,234,000 after purchasing an additional 30,826 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of ACADIA Pharmaceuticals by 27.0% in the 4th quarter. First Trust Advisors LP now owns 2,700,125 shares of the biopharmaceutical company’s stock worth $49,547,000 after purchasing an additional 574,251 shares during the period. Hedge funds and other institutional investors own 96.71% of the company’s stock.

About ACADIA Pharmaceuticals

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.