ACADIA Pharmaceuticals (NASDAQ:ACAD) Downgraded by BidaskClub

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ACADIA Pharmaceuticals (NASDAQ:ACAD) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Saturday, BidAskClub reports.

A number of other analysts have also recently weighed in on the stock. Svb Leerink raised shares of ACADIA Pharmaceuticals from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $21.00 to $50.00 in a research report on Friday, September 13th. Royal Bank of Canada started coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, October 1st. They set an “outperform” rating and a $60.00 price target for the company. HC Wainwright set a $60.00 price target on shares of ACADIA Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Piper Jaffray Companies boosted their price objective on shares of ACADIA Pharmaceuticals from $35.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Finally, Leerink Swann upgraded shares of ACADIA Pharmaceuticals from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $21.00 to $50.00 in a report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $47.87.

Shares of ACADIA Pharmaceuticals stock opened at $39.95 on Friday. The company has a fifty day moving average price of $36.56 and a 200 day moving average price of $28.82. The company has a current ratio of 6.85, a quick ratio of 6.79 and a debt-to-equity ratio of 0.02. ACADIA Pharmaceuticals has a twelve month low of $14.01 and a twelve month high of $44.85. The stock has a market cap of $5.78 billion, a price-to-earnings ratio of -20.59 and a beta of 2.81.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.08. ACADIA Pharmaceuticals had a negative net margin of 101.45% and a negative return on equity of 70.97%. The firm had revenue of $83.21 million during the quarter, compared to analysts’ expectations of $72.50 million. During the same period in the prior year, the company earned ($0.51) EPS. The firm’s revenue was up 45.8% on a year-over-year basis. Analysts forecast that ACADIA Pharmaceuticals will post -1.86 earnings per share for the current year.

In other news, CEO Stephen Davis sold 29,792 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $40.00, for a total value of $1,191,680.00. Following the sale, the chief executive officer now owns 29,792 shares in the company, valued at approximately $1,191,680. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Eric Alejandro Miller sold 4,645 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $41.18, for a total transaction of $191,281.10. The disclosure for this sale can be found here. Insiders sold a total of 97,942 shares of company stock worth $3,840,880 in the last quarter. 29.40% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the company. Alps Advisors Inc. acquired a new stake in shares of ACADIA Pharmaceuticals in the 2nd quarter valued at about $8,039,000. Quantitative Systematic Strategies LLC raised its stake in shares of ACADIA Pharmaceuticals by 67.1% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 15,281 shares of the biopharmaceutical company’s stock valued at $408,000 after purchasing an additional 6,134 shares in the last quarter. Aperio Group LLC raised its stake in shares of ACADIA Pharmaceuticals by 23.9% in the 2nd quarter. Aperio Group LLC now owns 21,384 shares of the biopharmaceutical company’s stock valued at $572,000 after purchasing an additional 4,127 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the 2nd quarter valued at about $42,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of ACADIA Pharmaceuticals by 4.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 730,992 shares of the biopharmaceutical company’s stock valued at $19,540,000 after purchasing an additional 29,031 shares in the last quarter. Institutional investors and hedge funds own 94.85% of the company’s stock.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.

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Analyst Recommendations for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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