ACADIA Pharmaceuticals (NASDAQ:ACAD) Cut to Neutral at Guggenheim

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

Other research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. 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. Finally, Raymond James restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, October 10th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $25.25.

ACADIA Pharmaceuticals Trading Down 1.3 %

NASDAQ:ACAD opened at $18.41 on Friday. The business’s 50-day moving average is $16.81 and its 200 day moving average is $16.42. ACADIA Pharmaceuticals has a 12 month low of $14.15 and a 12 month high of $31.10. The company has a market capitalization of $3.06 billion, a P/E ratio of 23.60 and a beta of 0.37.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The firm had revenue of $250.40 million during the quarter, compared to the consensus estimate of $248.83 million. During the same period in the prior year, the company earned ($0.40) EPS. The company’s quarterly revenue was up 18.3% compared to the same quarter last year. On average, research analysts forecast that ACADIA Pharmaceuticals will post 0.73 earnings per share for the current year.

Insider Transactions at ACADIA Pharmaceuticals

In other news, COO Brendan Teehan sold 10,329 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $173,630.49. Following the completion of the transaction, the chief operating officer now directly owns 62,105 shares of the company’s stock, valued at approximately $1,043,985.05. The trade was a 14.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider James Kihara sold 4,073 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $333,897.03. The trade was a 17.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,661 shares of company stock valued at $414,551. Company insiders own 28.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ACAD. Principal Financial Group Inc. grew its holdings in 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 stake in ACADIA Pharmaceuticals by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,875,540 shares of the biopharmaceutical company’s stock worth $44,234,000 after buying an additional 30,826 shares during the last quarter. Barclays PLC increased its position in ACADIA Pharmaceuticals by 126.2% during the 3rd quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company’s stock valued at $4,269,000 after buying an additional 154,854 shares in the last quarter. State Street Corp raised its stake 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 buying an additional 173,084 shares during the last quarter. Finally, Iron Triangle Partners LP acquired a new stake in ACADIA Pharmaceuticals in the third quarter worth about $11,535,000. 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.