ACADIA Pharmaceuticals (ACAD) Rating Increased to Hold at ValuEngine

ACADIA Pharmaceuticals (NASDAQ:ACAD) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

Several other equities analysts have also recently weighed in on ACAD. Bank of America lifted their price objective on ACADIA Pharmaceuticals from $22.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, October 10th. Zacks Investment Research upgraded ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating and set a $24.00 price objective on the stock in a report on Monday, October 8th. Piper Jaffray Companies cut ACADIA Pharmaceuticals from an “overweight” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a report on Monday, August 6th. Cantor Fitzgerald set a $25.00 price objective on ACADIA Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, October 2nd. Finally, BidaskClub lowered ACADIA Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, August 9th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $33.44.

Shares of NASDAQ:ACAD traded down $0.14 during trading on Thursday, hitting $22.73. 2,801,700 shares of the company’s stock traded hands, compared to its average volume of 2,839,140. ACADIA Pharmaceuticals has a 52 week low of $12.77 and a 52 week high of $38.00. The stock has a market capitalization of $2.60 billion, a PE ratio of -9.63 and a beta of 3.43.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Wednesday, August 8th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.45) by ($0.06). ACADIA Pharmaceuticals had a negative net margin of 135.99% and a negative return on equity of 78.56%. The business had revenue of $57.06 million for the quarter, compared to the consensus estimate of $58.63 million. During the same quarter last year, the firm earned ($0.55) EPS. The company’s revenue for the quarter was up 87.2% on a year-over-year basis. Equities analysts anticipate that ACADIA Pharmaceuticals will post -2.09 earnings per share for the current year.

In other news, Director Bros. Advisors Lp Baker bought 1,210,776 shares of the company’s stock in a transaction that occurred on Thursday, September 20th. The shares were acquired at an average price of $18.70 per share, with a total value of $22,641,511.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 23.28% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of the business. BlackRock Inc. increased its position in shares of ACADIA Pharmaceuticals by 46.4% during the 2nd quarter. BlackRock Inc. now owns 9,735,101 shares of the biopharmaceutical company’s stock worth $148,654,000 after purchasing an additional 3,085,874 shares during the last quarter. OppenheimerFunds Inc. increased its position in shares of ACADIA Pharmaceuticals by 2.6% during the 2nd quarter. OppenheimerFunds Inc. now owns 4,458,376 shares of the biopharmaceutical company’s stock worth $68,080,000 after purchasing an additional 112,430 shares during the last quarter. Orbimed Advisors LLC increased its position in shares of ACADIA Pharmaceuticals by 28.2% during the 2nd quarter. Orbimed Advisors LLC now owns 4,282,400 shares of the biopharmaceutical company’s stock worth $65,392,000 after purchasing an additional 941,700 shares during the last quarter. First Trust Advisors LP increased its position in shares of ACADIA Pharmaceuticals by 47.7% during the 2nd quarter. First Trust Advisors LP now owns 2,603,446 shares of the biopharmaceutical company’s stock worth $39,755,000 after purchasing an additional 840,425 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of ACADIA Pharmaceuticals by 157.5% during the 2nd quarter. Northern Trust Corp now owns 1,261,535 shares of the biopharmaceutical company’s stock worth $19,264,000 after purchasing an additional 771,631 shares during the last quarter. 92.93% of the stock is currently owned by hedge funds and other institutional investors.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.

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Analyst Recommendations for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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