ACADIA Pharmaceuticals (NASDAQ:ACAD) Downgraded to “Neutral” Rating by Guggenheim

Guggenheim lowered shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) from a buy rating to a neutral rating in a research note released on Friday morning, Marketbeat.com reports. Guggenheim currently has $20.00 target price on the biopharmaceutical company’s stock, down from their previous target price of $23.00.

A number of other equities research analysts have also recently commented on the company. StockNews.com cut ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. HC Wainwright reissued a “buy” rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Raymond James reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 10th. Finally, Needham & Company LLC reissued a “buy” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $25.25.

ACADIA Pharmaceuticals Price Performance

ACADIA Pharmaceuticals stock opened at $18.41 on Friday. The stock’s 50 day moving average is $16.81 and its 200 day moving average is $16.40. ACADIA Pharmaceuticals has a one year low of $14.15 and a one year high of $31.10. The firm has a market cap of $3.06 billion, a P/E ratio of 23.60 and a beta of 0.40.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The company had revenue of $250.40 million for the quarter, compared to the consensus estimate 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 in the previous year, the business earned ($0.40) EPS. Equities analysts anticipate that ACADIA Pharmaceuticals will post 0.73 earnings per share for the current fiscal year.

Insider Transactions at ACADIA Pharmaceuticals

In related news, insider James Kihara sold 4,073 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $68,467.13. Following the sale, the insider now directly owns 19,863 shares of the company’s stock, valued at $333,897.03. This trade represents a 17.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mark C. Schneyer sold 10,259 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $172,453.79. Following the completion of the sale, the chief financial officer now directly owns 53,302 shares in the company, valued at $896,006.62. This represents a 16.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,661 shares of company stock valued at $414,551. 28.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Principal Financial Group Inc. grew its holdings in shares of ACADIA Pharmaceuticals by 67.8% in the third quarter. Principal Financial Group Inc. now owns 129,551 shares of the biopharmaceutical company’s stock worth $1,992,000 after purchasing an additional 52,340 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of ACADIA Pharmaceuticals by 1.1% in the third 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 during the last quarter. Barclays PLC boosted its holdings in ACADIA Pharmaceuticals by 126.2% in the third quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company’s stock valued at $4,269,000 after acquiring an additional 154,854 shares in the last quarter. 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. Finally, Iron Triangle Partners LP bought a new stake in ACADIA Pharmaceuticals in the third quarter valued at $11,535,000. 96.71% of the stock is 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.