ACADIA Pharmaceuticals (NASDAQ:ACAD) Lowered to Buy at StockNews.com

ACADIA Pharmaceuticals (NASDAQ:ACAD) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday.

A number of other analysts also recently commented on the company. Morgan Stanley reduced their price objective on ACADIA Pharmaceuticals from $30.00 to $28.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, May 9th. Mizuho reduced their price objective on ACADIA Pharmaceuticals from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. Stifel Nicolaus reduced their price objective on ACADIA Pharmaceuticals from $26.00 to $21.00 and set a “hold” rating for the company in a research report on Thursday, May 9th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $29.00 target price on shares of ACADIA Pharmaceuticals in a research report on Tuesday, June 25th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, ACADIA Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $28.59.

ACADIA Pharmaceuticals Trading Up 2.1 %

ACAD traded up $0.38 during midday trading on Monday, reaching $18.13. The company’s stock had a trading volume of 1,957,119 shares, compared to its average volume of 1,757,865. The stock has a market cap of $3.00 billion, a P/E ratio of -1,811.19 and a beta of 0.38. The company has a fifty day simple moving average of $15.83 and a 200 day simple moving average of $19.82. ACADIA Pharmaceuticals has a twelve month low of $14.55 and a twelve month high of $32.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Wednesday, May 8th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.06. The firm had revenue of $205.83 million for the quarter, compared to analyst estimates of $208.31 million. ACADIA Pharmaceuticals had a negative return on equity of 0.41% and a negative net margin of 0.21%. The company’s revenue was up 73.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.27) EPS. Sell-side analysts expect that ACADIA Pharmaceuticals will post 0.58 earnings per share for the current year.

Insider Activity

In related news, CEO Stephen Davis sold 11,427 shares of ACADIA Pharmaceuticals stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total transaction of $193,573.38. Following the completion of the sale, the chief executive officer now directly owns 155,231 shares of the company’s stock, valued at $2,629,613.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Mark C. Schneyer sold 3,503 shares of ACADIA Pharmaceuticals stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total transaction of $59,340.82. Following the completion of the sale, the chief financial officer now directly owns 32,053 shares of the company’s stock, valued at $542,977.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Stephen Davis sold 11,427 shares of ACADIA Pharmaceuticals stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total value of $193,573.38. Following the sale, the chief executive officer now directly owns 155,231 shares of the company’s stock, valued at $2,629,613.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,708 shares of company stock valued at $348,697. Company insiders own 28.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fisher Asset Management LLC bought a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at about $4,479,000. Perceptive Advisors LLC bought a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at about $3,162,000. Jump Financial LLC lifted its holdings in shares of ACADIA Pharmaceuticals by 326.3% in the fourth quarter. Jump Financial LLC now owns 116,341 shares of the biopharmaceutical company’s stock valued at $3,643,000 after purchasing an additional 89,053 shares in the last quarter. M&G Investment Management Ltd. bought a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at about $10,349,000. Finally, UBS Group AG lifted its holdings in shares of ACADIA Pharmaceuticals by 112.4% in the fourth quarter. UBS Group AG now owns 307,359 shares of the biopharmaceutical company’s stock valued at $9,623,000 after purchasing an additional 162,663 shares in the last quarter. 96.71% of the stock is owned by institutional investors and hedge funds.

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.