ACADIA Pharmaceuticals (NASDAQ:ACAD) Downgraded by UBS Group to “Neutral”

ACADIA Pharmaceuticals (NASDAQ:ACAD) was downgraded by equities researchers at UBS Group from a “buy” rating to a “neutral” rating in a research note issued to investors on Tuesday, MarketBeat.com reports. They currently have a $23.00 price objective on the biopharmaceutical company’s stock. UBS Group’s price objective indicates a potential upside of 18.50% from the stock’s current price.

ACAD has been the topic of a number of other research reports. Weiss Ratings raised shares of ACADIA Pharmaceuticals from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 12th. William Blair set a $33.00 price target on shares of ACADIA Pharmaceuticals in a research report on Monday, September 28th. Needham & Company LLC dropped their price target on shares of ACADIA Pharmaceuticals from $41.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday, September 25th. Citigroup reiterated a “buy” rating and set a $33.00 price objective (down from $40.00) on shares of ACADIA Pharmaceuticals in a research report on Friday, September 25th. Finally, Stifel Nicolaus boosted their price target on shares of ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the company a “hold” rating in a report on Tuesday, July 21st. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.34.

ACADIA Pharmaceuticals Trading Down 1.9%

ACADIA Pharmaceuticals stock opened at $19.41 on Tuesday. The stock has a 50 day moving average of $26.26 and a 200-day moving average of $24.10. The stock has a market cap of $3.34 billion, a P/E ratio of 8.74 and a beta of 0.88. ACADIA Pharmaceuticals has a 52 week low of $19.32 and a 52 week high of $30.96.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.11. ACADIA Pharmaceuticals had a net margin of 33.42% and a return on equity of 9.03%. The business had revenue of $308.00 million for the quarter, compared to analyst estimates of $296.55 million. During the same quarter in the prior year, the business posted $0.16 EPS. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. As a group, equities analysts predict that ACADIA Pharmaceuticals will post 0.64 earnings per share for the current fiscal year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, EVP Elizabeth Thompson sold 16,558 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $26.13, for a total value of $432,660.54. Following the transaction, the executive vice president owned 18,994 shares of the company’s stock, valued at $496,313.22. This trade represents a 46.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark C. Schneyer sold 14,292 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $29.22, for a total transaction of $417,612.24. Following the transaction, the executive vice president directly owned 67,828 shares of the company’s stock, valued at approximately $1,981,934.16. This represents a 17.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 36,699 shares of company stock worth $1,019,894 over the last three months. Company insiders own 26.20% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Several hedge funds have recently modified their holdings of ACAD. GAMMA Investing LLC raised its position in shares of ACADIA Pharmaceuticals by 36.1% during the third quarter. GAMMA Investing LLC now owns 4,064 shares of the biopharmaceutical company’s stock valued at $82,000 after buying an additional 1,079 shares during the last quarter. Farther Finance Advisors LLC raised its stake in ACADIA Pharmaceuticals by 996.4% during the third quarter. Farther Finance Advisors LLC now owns 9,023 shares of the biopharmaceutical company’s stock worth $182,000 after acquiring an additional 8,200 shares in the last quarter. Valeo Financial Advisors LLC bought a new position in ACADIA Pharmaceuticals during the 3rd quarter valued at about $424,000. Cim Investment Management Inc. raised its stake in shares of ACADIA Pharmaceuticals by 7.3% in the second quarter. Cim Investment Management Inc. now owns 15,273 shares of the biopharmaceutical company’s stock valued at $386,000 after acquiring an additional 1,034 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in ACADIA Pharmaceuticals in the second quarter worth $597,000. 96.71% of the stock is owned by institutional investors.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system disorders and rare diseases. The company is headquartered in San Diego, California, and serves patients and healthcare providers primarily in the United States.

ACADIA’s commercial products include NUPLAZID (pimavanserin), an atypical antipsychotic approved in the United States for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis.