ACADIA Pharmaceuticals (NASDAQ:ACAD) Rating Lowered to Neutral at Guggenheim

ACADIA Pharmaceuticals (NASDAQ:ACAD) was downgraded by analysts at Guggenheim from a “buy” rating to a “neutral” rating in a research report issued on Friday, Marketbeat.com reports. They currently have a $20.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $23.00. Guggenheim’s price target points to a potential upside of 8.64% from the stock’s current price.

Several other equities analysts have also weighed in on ACAD. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Raymond James reiterated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 10th. StockNews.com downgraded ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, Needham & Company LLC restated a “buy” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $25.25.

ACADIA Pharmaceuticals Stock Down 1.3 %

ACADIA Pharmaceuticals stock opened at $18.41 on Friday. ACADIA Pharmaceuticals has a 12 month low of $14.15 and a 12 month high of $31.10. The stock has a market cap of $3.06 billion, a P/E ratio of 23.60 and a beta of 0.37. The company’s fifty day simple moving average is $16.81 and its 200-day simple moving average is $16.41.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The firm had revenue of $250.40 million for the quarter, compared to the consensus estimate of $248.83 million. During the same quarter in the previous year, the company posted ($0.40) earnings per share. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. On average, equities research analysts expect that ACADIA Pharmaceuticals will post 0.73 earnings per share for the current fiscal year.

Insider Transactions at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, CFO Mark C. Schneyer sold 10,259 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $172,453.79. Following the sale, the chief financial officer now directly owns 53,302 shares of the company’s stock, valued at approximately $896,006.62. This represents a 16.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James Kihara sold 4,073 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $68,467.13. Following the completion of the transaction, the insider now owns 19,863 shares of the company’s stock, valued at $333,897.03. This trade represents a 17.02 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,661 shares of company stock valued at $414,551. Corporate insiders own 28.30% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of ACAD. State Street Corp grew its holdings in shares of ACADIA Pharmaceuticals by 3.0% during the third quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company’s stock worth $91,878,000 after purchasing an additional 173,084 shares during the last quarter. Fred Alger Management LLC lifted its position in ACADIA Pharmaceuticals by 17.8% during the 3rd quarter. Fred Alger Management LLC now owns 3,186,389 shares of the biopharmaceutical company’s stock worth $49,007,000 after buying an additional 481,950 shares in the last quarter. Millennium Management LLC grew its holdings in ACADIA Pharmaceuticals by 36.2% during the 2nd quarter. Millennium Management LLC now owns 2,937,714 shares of the biopharmaceutical company’s stock worth $47,738,000 after acquiring an additional 781,070 shares during the last quarter. D. E. Shaw & Co. Inc. increased its position in ACADIA Pharmaceuticals by 11.1% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,934,926 shares of the biopharmaceutical company’s stock valued at $47,693,000 after acquiring an additional 292,906 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of ACADIA Pharmaceuticals by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,875,540 shares of the biopharmaceutical company’s stock worth $44,234,000 after acquiring an additional 30,826 shares during the last quarter. 96.71% of the stock is owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Company Profile

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.