ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a report released on Monday, July 17th.
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. “
A number of other equities analysts have also recently issued reports on the stock. BidaskClub upgraded shares of ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 21st. ValuEngine upgraded shares of ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Rodman & Renshaw restated a “buy” rating and issued a $60.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Monday, May 22nd. HC Wainwright restated a “buy” rating on shares of ACADIA Pharmaceuticals in a research report on Wednesday, May 10th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $47.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Wednesday, April 12th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. ACADIA Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $42.21.
Shares of ACADIA Pharmaceuticals (NASDAQ ACAD) opened at 30.69 on Monday. The firm’s market capitalization is $3.75 billion. The firm’s 50-day moving average price is $28.71 and its 200-day moving average price is $32.08. ACADIA Pharmaceuticals has a one year low of $20.68 and a one year high of $40.83.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Tuesday, May 9th. The biopharmaceutical company reported ($0.72) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.01. ACADIA Pharmaceuticals had a negative net margin of 948.93% and a negative return on equity of 63.07%. The firm had revenue of $15.30 million for the quarter, compared to analysts’ expectations of $15.17 million. During the same quarter in the previous year, the company earned ($0.45) earnings per share. On average, equities analysts forecast that ACADIA Pharmaceuticals will post ($2.82) earnings per share for the current year.
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In other ACADIA Pharmaceuticals news, EVP Glenn Baity sold 1,903 shares of the company’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $30.00, for a total value of $57,090.00. Following the sale, the executive vice president now owns 83,059 shares in the company, valued at $2,491,770. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 22.25% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in ACAD. Envestnet Asset Management Inc. raised its position in ACADIA Pharmaceuticals by 23.0% in the first quarter. Envestnet Asset Management Inc. now owns 3,296 shares of the biopharmaceutical company’s stock valued at $113,000 after buying an additional 617 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of ACADIA Pharmaceuticals by 138.8% in the first quarter. PNC Financial Services Group Inc. now owns 4,384 shares of the biopharmaceutical company’s stock worth $150,000 after buying an additional 2,548 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of ACADIA Pharmaceuticals by 12.8% in the first quarter. Nisa Investment Advisors LLC now owns 4,510 shares of the biopharmaceutical company’s stock worth $155,000 after buying an additional 510 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in shares of ACADIA Pharmaceuticals during the first quarter worth approximately $161,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth approximately $145,000. Institutional investors and hedge funds own 97.16% of the company’s stock.
About ACADIA Pharmaceuticals
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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