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

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

ACAD has been the topic of several other research reports. Royal Bank of Canada reaffirmed an outperform rating and set a $29.00 price target on shares of ACADIA Pharmaceuticals in a research report on Tuesday, June 25th. Cantor Fitzgerald reaffirmed an overweight rating and set a $37.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, May 9th. Bank of America cut their price target on ACADIA Pharmaceuticals from $26.00 to $22.00 and set a neutral rating on the stock in a research report on Friday, May 10th. Morgan Stanley lowered their target price on ACADIA Pharmaceuticals from $30.00 to $28.00 and set an overweight rating on the stock in a research note on Friday, July 12th. Finally, Citigroup lowered their target price on ACADIA Pharmaceuticals from $30.19 to $30.00 and set a buy rating on the stock in a research note on Thursday, May 9th. Four 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.com, ACADIA Pharmaceuticals presently has a consensus rating of Moderate Buy and a consensus target price of $28.00.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ ACAD opened at $18.41 on Friday. ACADIA Pharmaceuticals has a fifty-two week low of $14.55 and a fifty-two week high of $32.59. The firm has a market capitalization of $3.04 billion, a PE ratio of -1,839.16 and a beta of 0.38. The stock’s 50-day simple moving average is $16.53 and its 200-day simple moving average is $19.08.

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

Institutional Trading of ACADIA Pharmaceuticals

A number of institutional investors have recently bought and sold shares of ACAD. Norges Bank purchased a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter worth about $45,187,000. Eventide Asset Management LLC purchased a new position in ACADIA Pharmaceuticals in the fourth quarter valued at about $25,342,000. M&G Investment Management Ltd. purchased a new position in ACADIA Pharmaceuticals in the fourth quarter valued at about $10,349,000. M&G Plc purchased a new position in ACADIA Pharmaceuticals in the first quarter valued at about $5,622,000. Finally, WCM Investment Management LLC purchased a new position in ACADIA Pharmaceuticals in the first quarter valued at about $5,215,000. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

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.