ACADIA Pharmaceuticals (NASDAQ:ACAD) Rating Lowered to “Hold” at StockNews.com

ACADIA Pharmaceuticals (NASDAQ:ACAD) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

ACAD has been the subject of several other reports. Needham & Company LLC restated a “buy” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday. Deutsche Bank Aktiengesellschaft began coverage on ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They issued a “hold” rating and a $22.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday. Guggenheim downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $23.00 to $20.00 in a report on Friday, January 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

ACADIA Pharmaceuticals Price Performance

NASDAQ:ACAD opened at $19.60 on Friday. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of 25.13 and a beta of 0.37. ACADIA Pharmaceuticals has a one year low of $14.15 and a one year high of $24.53. The business has a fifty day moving average price of $18.42 and a 200-day moving average price of $16.85.

Institutional Trading of ACADIA Pharmaceuticals

Several hedge funds have recently made changes to their positions in ACAD. Creative Planning raised its position in shares of ACADIA Pharmaceuticals by 71.4% during the 3rd quarter. Creative Planning now owns 25,061 shares of the biopharmaceutical company’s stock valued at $385,000 after buying an additional 10,441 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of ACADIA Pharmaceuticals by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 1,066 shares in the last quarter. US Bancorp DE raised its position in shares of ACADIA Pharmaceuticals by 2,084.0% during the 3rd quarter. US Bancorp DE now owns 32,934 shares of the biopharmaceutical company’s stock valued at $507,000 after buying an additional 31,426 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its position in shares of ACADIA Pharmaceuticals by 2.9% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 574,810 shares of the biopharmaceutical company’s stock valued at $8,841,000 after buying an additional 15,961 shares in the last quarter. Finally, Emerald Advisers LLC raised its position in shares of ACADIA Pharmaceuticals by 2.7% during the 3rd quarter. Emerald Advisers LLC now owns 830,829 shares of the biopharmaceutical company’s stock valued at $12,778,000 after buying an additional 21,998 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.