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

ACADIA Pharmaceuticals (NASDAQ:ACAD) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Thursday.

Several other equities analysts have also recently issued reports on ACAD. Royal Bank of Canada lowered their price target on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Citigroup dropped their price target on shares of ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Cantor Fitzgerald reduced their price target on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Finally, Raymond James restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 10th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.56.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ:ACAD opened at $16.77 on Thursday. The business’s fifty day moving average price is $15.56 and its two-hundred day moving average price is $16.01. ACADIA Pharmaceuticals has a one year low of $14.15 and a one year high of $32.59. The stock has a market cap of $2.79 billion, a PE ratio of 21.50 and a beta of 0.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.14 by $0.06. The company had revenue of $250.40 million for the quarter, compared to analyst estimates of $248.83 million. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The firm’s revenue was up 18.3% compared to the same quarter last year. During the same period last year, the company posted ($0.40) earnings per share. As a group, equities research analysts predict that ACADIA Pharmaceuticals will post 0.72 earnings per share for the current fiscal year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, CEO Stephen Davis sold 31,747 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $485,094.16. Following the completion of the transaction, the chief executive officer now directly owns 186,555 shares in the company, valued at approximately $2,850,560.40. The trade was a 14.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Brendan Teehan sold 9,534 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $145,679.52. Following the completion of the sale, the chief operating officer now directly owns 52,177 shares of the company’s stock, valued at approximately $797,264.56. This represents a 15.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,014 shares of company stock valued at $779,494 over the last three months. 28.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Park Place Capital Corp bought a new position in ACADIA Pharmaceuticals in the 3rd quarter valued at approximately $25,000. Values First Advisors Inc. bought a new stake in shares of ACADIA Pharmaceuticals during the 3rd quarter valued at $27,000. Covestor Ltd grew its position in shares of ACADIA Pharmaceuticals by 70.5% during the first quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 840 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of ACADIA Pharmaceuticals during the first quarter worth $48,000. Finally, Quest Partners LLC grew its position in shares of ACADIA Pharmaceuticals by 42.3% during the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 1,047 shares in the last quarter. 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.