ACADIA Pharmaceuticals (NASDAQ:ACAD) Lowered to Buy Rating by StockNews.com

StockNews.com downgraded shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) from a strong-buy rating to a buy rating in a research note released on Thursday.

Several other analysts have also commented on ACAD. Raymond James restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 10th. Citigroup cut their price target on ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Morgan Stanley lowered ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $28.00 to $20.00 in a report on Wednesday, August 7th. Finally, UBS Group reduced their target price on ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, ACADIA Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $25.56.

ACADIA Pharmaceuticals Stock Performance

NASDAQ ACAD opened at $16.77 on Thursday. The firm has a market capitalization of $2.79 billion, a P/E ratio of 21.50 and a beta of 0.38. The stock has a 50-day simple moving average of $15.56 and a two-hundred day simple moving average of $15.99. ACADIA Pharmaceuticals has a fifty-two week low of $14.15 and a fifty-two week high of $32.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The company had revenue of $250.40 million during the quarter, compared to analysts’ expectations of $248.83 million. During the same period last year, the business earned ($0.40) earnings per share. ACADIA Pharmaceuticals’s quarterly revenue was up 18.3% on a year-over-year basis. As a group, analysts forecast that ACADIA Pharmaceuticals will post 0.72 earnings per share for the current year.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of large investors have recently made changes to their positions in ACAD. Park Place Capital Corp acquired a new position in ACADIA Pharmaceuticals during the third quarter worth $25,000. Values First Advisors Inc. acquired a new stake in ACADIA Pharmaceuticals during the third quarter worth about $27,000. Covestor Ltd increased its position in ACADIA Pharmaceuticals by 70.5% during the first quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 840 shares during the last quarter. Headlands Technologies LLC purchased a new position in ACADIA Pharmaceuticals during the first quarter worth about $48,000. Finally, Quest Partners LLC boosted its holdings in ACADIA Pharmaceuticals by 42.3% in the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 1,047 shares during the last quarter. 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.