ACADIA Pharmaceuticals (NASDAQ:ACAD) Downgraded by StockNews.com

StockNews.com lowered shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday.

A number of other research analysts have also recently commented on the company. Mizuho dropped their price target on ACADIA Pharmaceuticals from $25.00 to $21.00 and set a neutral rating for the company in a research note on Thursday, May 9th. Needham & Company LLC reiterated a buy rating and issued a $30.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, May 9th. BMO Capital Markets began coverage on ACADIA Pharmaceuticals in a research note on Thursday, June 27th. They issued an outperform rating and a $31.00 price target for the company. HC Wainwright dropped their price target on ACADIA Pharmaceuticals from $33.00 to $27.00 and set a buy rating for the company in a research note on Thursday, May 9th. Finally, Oppenheimer reiterated a market perform rating and issued a $19.00 price target on shares of ACADIA Pharmaceuticals in a research note on Monday, May 6th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $28.00.

ACADIA Pharmaceuticals Trading Down 1.9 %

ACADIA Pharmaceuticals stock opened at $18.41 on Friday. ACADIA Pharmaceuticals has a 12 month low of $14.55 and a 12 month high of $32.59. The stock’s 50 day moving average is $16.53 and its 200-day moving average is $19.08. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of -1,839.16 and a beta of 0.38.

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

Institutional Trading of ACADIA Pharmaceuticals

A number of large investors have recently bought and sold shares of ACAD. DekaBank Deutsche Girozentrale grew its holdings in ACADIA Pharmaceuticals by 2.4% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 94,553 shares of the biopharmaceutical company’s stock worth $2,925,000 after acquiring an additional 2,184 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in ACADIA Pharmaceuticals by 5.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 85,780 shares of the biopharmaceutical company’s stock valued at $2,686,000 after buying an additional 4,442 shares in the last quarter. Wakefield Asset Management LLLP bought a new position in ACADIA Pharmaceuticals in the fourth quarter worth approximately $1,108,000. Allspring Global Investments Holdings LLC grew its stake in ACADIA Pharmaceuticals by 17.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 147,099 shares of the biopharmaceutical company’s stock valued at $4,606,000 after acquiring an additional 22,008 shares during the period. Finally, Mutual of America Capital Management LLC bought a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter valued at approximately $2,206,000. 96.71% of the stock is currently 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.