Zacks Investment Research cut shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) from a buy rating to a hold rating in a research report sent to investors on Monday morning.
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 research analysts also recently weighed in on the stock. Jefferies Group reiterated a buy rating and set a $47.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 12th. JPMorgan Chase & Co. set a $50.00 target price on shares of ACADIA Pharmaceuticals and gave the stock a buy rating in a research note on Thursday, October 5th. Leerink Swann reiterated a market perform rating on shares of ACADIA Pharmaceuticals in a research note on Monday, October 9th. JMP Securities raised their price objective on shares of ACADIA Pharmaceuticals from $47.00 to $50.00 and gave the company an outperform rating in a research report on Thursday, October 5th. Finally, ValuEngine downgraded shares of ACADIA Pharmaceuticals from a hold rating to a sell rating in a research report on Tuesday, November 14th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of Buy and an average price target of $48.86.
Shares of ACADIA Pharmaceuticals (NASDAQ ACAD) traded down $0.47 on Monday, hitting $27.78. 1,140,500 shares of the stock traded hands, compared to its average volume of 1,878,667. ACADIA Pharmaceuticals has a twelve month low of $25.06 and a twelve month high of $41.20. The firm has a market capitalization of $3,320.00, a P/E ratio of -11.29 and a beta of 3.79.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.53) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.10. ACADIA Pharmaceuticals had a negative net margin of 320.71% and a negative return on equity of 67.68%. The business had revenue of $35.58 million during the quarter, compared to the consensus estimate of $32.03 million. During the same quarter in the prior year, the firm earned ($0.61) earnings per share. The business’s quarterly revenue was up 571.3% compared to the same quarter last year. analysts anticipate that ACADIA Pharmaceuticals will post -2.41 earnings per share for the current year.
In other ACADIA Pharmaceuticals news, EVP Glenn Baity sold 74,321 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $30.14, for a total value of $2,240,034.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Laura Brege sold 25,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $450,900. The disclosure for this sale can be found here. 22.25% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of ACAD. San Francisco Sentry Investment Group CA purchased a new position in ACADIA Pharmaceuticals in the second quarter valued at about $125,000. Oppenheimer Asset Management Inc. increased its holdings in ACADIA Pharmaceuticals by 10.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 5,133 shares of the biopharmaceutical company’s stock valued at $143,000 after buying an additional 468 shares in the last quarter. Turner Investments LLC purchased a new position in ACADIA Pharmaceuticals in the third quarter valued at about $188,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in ACADIA Pharmaceuticals by 43.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,670 shares of the biopharmaceutical company’s stock valued at $214,000 after buying an additional 1,710 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in ACADIA Pharmaceuticals in the fourth quarter valued at about $219,000. 94.02% of the stock is owned by institutional investors.
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ACADIA Pharmaceuticals Company Profile
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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