ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Short Interest Update

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) was the recipient of a significant decrease in short interest in July. As of July 15th, there was short interest totalling 11,330,000 shares, a decrease of 5.0% from the June 30th total of 11,930,000 shares. Based on an average daily volume of 1,750,000 shares, the short-interest ratio is presently 6.5 days.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD stock opened at $18.99 on Friday. ACADIA Pharmaceuticals has a 52-week low of $14.55 and a 52-week high of $32.59. The stock has a market cap of $3.14 billion, a PE ratio of -1,918.08 and a beta of 0.38. The firm’s 50 day moving average price is $16.33 and its two-hundred day moving average price is $19.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data 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 analysts’ expectations of $208.31 million. ACADIA Pharmaceuticals had a negative net margin of 0.21% and a negative return on equity of 0.41%. The business’s revenue for the quarter was up 73.8% on a year-over-year basis. During the same period last year, the firm earned ($0.27) earnings per share. As a group, sell-side analysts predict that ACADIA Pharmaceuticals will post 0.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Quest Partners LLC acquired a new stake in ACADIA Pharmaceuticals in the fourth quarter worth $39,000. Covestor Ltd raised its holdings in ACADIA Pharmaceuticals by 70.5% in the first quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 840 shares during the period. Headlands Technologies LLC acquired a new stake in ACADIA Pharmaceuticals in the first quarter worth $48,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in ACADIA Pharmaceuticals in the fourth quarter worth $100,000. Finally, Shell Asset Management Co. raised its holdings in ACADIA Pharmaceuticals by 65.7% in the first quarter. Shell Asset Management Co. now owns 7,339 shares of the biopharmaceutical company’s stock worth $136,000 after purchasing an additional 2,909 shares during the period. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ACAD has been the subject of several recent research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $37.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, May 9th. Citigroup decreased their price objective on shares of ACADIA Pharmaceuticals from $30.19 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $29.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Tuesday, June 25th. StockNews.com cut shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, May 9th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.59.

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.