ACADIA Pharmaceuticals (NASDAQ:ACAD) Rating Lowered to “Neutral” at Guggenheim

ACADIA Pharmaceuticals (NASDAQ:ACAD) was downgraded by Guggenheim from a “buy” rating to a “neutral” rating in a note issued to investors on Friday, Marketbeat reports. They presently have a $20.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $23.00. Guggenheim’s price target suggests a potential upside of 8.64% from the stock’s previous close.

Other research analysts have also issued reports about the company. HC Wainwright restated a “buy” rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Raymond James restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 10th. StockNews.com cut ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Finally, Needham & Company LLC reissued a “buy” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $25.25.

ACADIA Pharmaceuticals Trading Down 1.3 %

Shares of NASDAQ:ACAD opened at $18.41 on Friday. ACADIA Pharmaceuticals has a 1-year low of $14.15 and a 1-year high of $31.10. The stock has a market capitalization of $3.06 billion, a P/E ratio of 23.60 and a beta of 0.37. The business has a 50-day moving average price of $16.81 and a two-hundred day moving average price of $16.41.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The business had revenue of $250.40 million during the quarter, compared to the consensus estimate of $248.83 million. During the same period in the previous year, the firm posted ($0.40) earnings per share. ACADIA Pharmaceuticals’s revenue for the quarter was up 18.3% compared to the same quarter last year. As a group, equities analysts predict that ACADIA Pharmaceuticals will post 0.73 EPS for the current year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, CFO Mark C. Schneyer sold 10,259 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $172,453.79. Following the transaction, the chief financial officer now owns 53,302 shares of the company’s stock, valued at $896,006.62. The trade was a 16.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Brendan Teehan sold 10,329 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $173,630.49. Following the completion of the sale, the chief operating officer now directly owns 62,105 shares of the company’s stock, valued at approximately $1,043,985.05. The trade was a 14.26 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,661 shares of company stock worth $414,551. Insiders own 28.30% of the company’s stock.

Institutional Trading of ACADIA Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Park Place Capital Corp acquired a new position in shares of ACADIA Pharmaceuticals during the 3rd quarter worth about $25,000. Values First Advisors Inc. acquired a new position in ACADIA Pharmaceuticals during the third quarter worth approximately $27,000. Quest Partners LLC increased its position in ACADIA Pharmaceuticals by 42.3% during the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after buying an additional 1,047 shares during the last quarter. Stonepine Capital Management LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the second quarter valued at approximately $81,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of ACADIA Pharmaceuticals by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 1,066 shares during the last quarter. 96.71% of the stock is owned by institutional investors.

About ACADIA Pharmaceuticals

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.