Zacks Investment Research lowered shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) from a buy rating to a hold rating in a research report sent to investors on Tuesday, January 2nd.
According to Zacks, “Acadia Pharmaceuticals is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule drugs for the treatment of central nervous system disorders. Their three clinical programs are ACP-103 for treatment-induced dysfunction in Parkinson’s disease, and ACP-104 and ACP-103, both for the treatment of schizophrenia. “
Several other equities analysts have also recently commented on the stock. BidaskClub upgraded shares of ACADIA Pharmaceuticals from a sell rating to a hold rating in a research note on Wednesday, December 27th. ValuEngine cut shares of ACADIA Pharmaceuticals from a hold rating to a sell rating in a research note on Tuesday, November 14th. HC Wainwright restated a buy rating and issued a $60.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Wednesday, November 8th. Cowen restated a buy rating and issued a $46.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Tuesday, November 7th. Finally, Jefferies Group reiterated a buy rating and set a $47.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $48.86.
Shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) opened at $28.63 on Tuesday. The company has a market cap of $3,500.00, a P/E ratio of -11.64 and a beta of 3.79. ACADIA Pharmaceuticals has a 1 year low of $25.06 and a 1 year high of $41.20.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.63) by $0.10. The business had revenue of $35.58 million during the quarter, compared to the consensus estimate of $32.03 million. ACADIA Pharmaceuticals had a negative net margin of 320.71% and a negative return on equity of 67.68%. ACADIA Pharmaceuticals’s quarterly revenue was up 571.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.61) EPS. equities analysts anticipate that ACADIA Pharmaceuticals will post -2.41 EPS for the current fiscal year.
In other news, EVP Glenn Baity sold 74,321 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $30.14, for a total value of $2,240,034.94. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Laura Brege sold 25,000 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $30.06, for a total transaction of $751,500.00. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at $450,900. The disclosure for this sale can be found here. Company insiders own 22.25% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in ACADIA Pharmaceuticals by 2.9% during the second quarter. BlackRock Inc. now owns 5,590,706 shares of the biopharmaceutical company’s stock worth $155,925,000 after purchasing an additional 157,497 shares during the period. Legato Capital Management LLC boosted its position in shares of ACADIA Pharmaceuticals by 321.9% in the third quarter. Legato Capital Management LLC now owns 33,748 shares of the biopharmaceutical company’s stock valued at $1,271,000 after acquiring an additional 25,748 shares during the period. Nationwide Fund Advisors boosted its position in shares of ACADIA Pharmaceuticals by 118.3% in the second quarter. Nationwide Fund Advisors now owns 26,940 shares of the biopharmaceutical company’s stock valued at $751,000 after acquiring an additional 14,600 shares during the period. JPMorgan Chase & Co. boosted its position in shares of ACADIA Pharmaceuticals by 5.4% in the second quarter. JPMorgan Chase & Co. now owns 1,883,166 shares of the biopharmaceutical company’s stock valued at $52,521,000 after acquiring an additional 96,742 shares during the period. Finally, Alps Advisors Inc. boosted its position in shares of ACADIA Pharmaceuticals by 9.4% in the third quarter. Alps Advisors Inc. now owns 120,544 shares of the biopharmaceutical company’s stock valued at $4,541,000 after acquiring an additional 10,381 shares during the period. 94.02% of the stock is owned by hedge funds and other institutional investors.
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About ACADIA Pharmaceuticals
ACADIA Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system (CNS) disorders. Its lead drug candidate, NUPLAZID (pimavanserin), is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis (PD Psychosis).
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