ACADIA Pharmaceuticals (NASDAQ:ACAD) Rating Lowered to Hold at Wall Street Zen

ACADIA Pharmaceuticals (NASDAQ:ACAD) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Several other analysts also recently weighed in on ACAD. JPMorgan Chase & Co. dropped their target price on shares of ACADIA Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a research report on Monday, November 17th. UBS Group reaffirmed a “buy” rating and issued a $35.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, December 4th. Cowen reissued a “buy” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, September 11th. Citigroup initiated coverage on ACADIA Pharmaceuticals in a research report on Tuesday, October 21st. They issued a “buy” rating and a $33.00 target price on the stock. Finally, HC Wainwright raised their target price on ACADIA Pharmaceuticals from $32.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $30.47.

ACADIA Pharmaceuticals Trading Down 1.6%

NASDAQ ACAD opened at $26.29 on Friday. The firm’s fifty day simple moving average is $25.08 and its two-hundred day simple moving average is $23.76. The firm has a market capitalization of $4.45 billion, a P/E ratio of 16.96, a P/E/G ratio of 7.10 and a beta of 0.68. ACADIA Pharmaceuticals has a 12-month low of $13.40 and a 12-month high of $28.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.28. ACADIA Pharmaceuticals had a return on equity of 14.61% and a net margin of 24.94%.The firm had revenue of $278.63 million for the quarter, compared to the consensus estimate of $276.52 million. During the same period in the previous year, the business earned $0.20 EPS. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, sell-side analysts predict that ACADIA Pharmaceuticals will post 0.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Mark C. Schneyer sold 10,262 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $23.69, for a total transaction of $243,106.78. Following the completion of the transaction, the executive vice president directly owned 53,338 shares in the company, valued at approximately $1,263,577.22. This trade represents a 16.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James M. Daly sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $22.37, for a total value of $671,100.00. Following the completion of the transaction, the director directly owned 4,041 shares of the company’s stock, valued at $90,397.17. The trade was a 88.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 44,346 shares of company stock valued at $1,010,957. Company insiders own 28.30% of the company’s stock.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several institutional investors have recently made changes to their positions in ACAD. Wealth Enhancement Advisory Services LLC purchased a new position in shares of ACADIA Pharmaceuticals in the second quarter worth about $511,000. Comerica Bank grew its holdings in ACADIA Pharmaceuticals by 4,770.1% in the 1st quarter. Comerica Bank now owns 43,100 shares of the biopharmaceutical company’s stock valued at $716,000 after buying an additional 42,215 shares in the last quarter. Rhumbline Advisers increased its stake in shares of ACADIA Pharmaceuticals by 100.9% in the 1st quarter. Rhumbline Advisers now owns 352,716 shares of the biopharmaceutical company’s stock worth $5,859,000 after acquiring an additional 177,188 shares during the last quarter. Norges Bank acquired a new stake in shares of ACADIA Pharmaceuticals in the 2nd quarter worth $31,679,000. Finally, First Trust Advisors LP raised its holdings in shares of ACADIA Pharmaceuticals by 2.8% during the 2nd quarter. First Trust Advisors LP now owns 2,434,376 shares of the biopharmaceutical company’s stock worth $52,509,000 after acquiring an additional 65,914 shares during the period. 96.71% of the stock is owned by hedge funds and other institutional investors.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.