ACADIA Pharmaceuticals (NASDAQ:ACAD) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) from a buy rating to a hold rating in a report released on Monday morning,Wall Street Zen reports.

A number of other brokerages have also recently commented on ACAD. Bank of America reaffirmed a “buy” rating and set a $14.50 price objective on shares of ACADIA Pharmaceuticals in a research note on Wednesday, July 29th. Royal Bank Of Canada cut their target price on ACADIA Pharmaceuticals from $37.00 to $36.00 and set an “outperform” rating on the stock in a research note on Thursday, October 8th. Deutsche Bank Aktiengesellschaft cut their target price on ACADIA Pharmaceuticals from $38.00 to $31.00 and set a “buy” rating on the stock in a research note on Friday, September 25th. Needham & Company LLC reduced their price objective on shares of ACADIA Pharmaceuticals from $41.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday, September 25th. Finally, HC Wainwright reduced their price objective on shares of ACADIA Pharmaceuticals from $37.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, September 25th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $31.34.

ACADIA Pharmaceuticals Stock Down 1.2%

Shares of ACAD opened at $20.19 on Monday. ACADIA Pharmaceuticals has a 12-month low of $18.39 and a 12-month high of $30.96. The firm has a market capitalization of $3.48 billion, a PE ratio of 9.09 and a beta of 0.88. The stock’s fifty day simple moving average is $24.97 and its 200-day simple moving average is $24.00.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.11. The business had revenue of $308.00 million for the quarter, compared to analysts’ expectations of $296.55 million. ACADIA Pharmaceuticals had a return on equity of 9.03% and a net margin of 33.42%. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.16 earnings per share. Analysts anticipate that ACADIA Pharmaceuticals will post 0.64 EPS for the current year.

Insider Activity at ACADIA Pharmaceuticals

In other news, EVP Elizabeth Thompson sold 16,558 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $26.13, for a total value of $432,660.54. Following the sale, the executive vice president directly owned 18,994 shares in the company, valued at $496,313.22. This trade represents a 46.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Schneyer sold 14,292 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $29.22, for a total transaction of $417,612.24. Following the completion of the sale, the executive vice president directly owned 67,828 shares in the company, valued at approximately $1,981,934.16. This represents a 17.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 36,699 shares of company stock valued at $1,019,894 over the last ninety days. Company insiders own 26.20% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in ACADIA Pharmaceuticals by 15.6% during the second quarter. GAMMA Investing LLC now owns 2,985 shares of the biopharmaceutical company’s stock worth $76,000 after acquiring an additional 402 shares in the last quarter. Cim Investment Management Inc. lifted its stake in ACADIA Pharmaceuticals by 7.3% in the second quarter. Cim Investment Management Inc. now owns 15,273 shares of the biopharmaceutical company’s stock valued at $386,000 after acquiring an additional 1,034 shares during the last quarter. Swiss National Bank grew its position in shares of ACADIA Pharmaceuticals by 0.6% in the 1st quarter. Swiss National Bank now owns 234,404 shares of the biopharmaceutical company’s stock valued at $5,218,000 after acquiring an additional 1,500 shares during the period. Nykredit A S bought a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter valued at about $38,000. Finally, Integrated Wealth Concepts LLC bought a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter valued at about $50,000. 96.71% of the stock is currently owned by institutional investors and hedge funds.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system and neuropsychiatric disorders. The company’s research programs target conditions with significant unmet medical needs, including neurological and rare neurodevelopmental diseases.

ACADIA’s commercial products include NUPLAZID (pimavanserin), an atypical antipsychotic approved in the United States to treat hallucinations and delusions associated with Parkinson’s disease psychosis.