ACADIA Pharmaceuticals Inc. (ACAD) Rating Lowered to Sell at ValuEngine

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

A number of other equities research analysts also recently weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $60.00 price target on shares of ACADIA Pharmaceuticals in a report on Wednesday, November 8th. Cowen and Company restated a “buy” rating and set a $46.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Tuesday, November 7th. Zacks Investment Research downgraded ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. Jefferies Group LLC restated a “buy” rating and set a $47.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 12th. Finally, Leerink Swann restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research note on Monday, October 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $47.73.

Shares of ACADIA Pharmaceuticals (NASDAQ ACAD) opened at $27.31 on Tuesday. ACADIA Pharmaceuticals has a twelve month low of $24.31 and a twelve month high of $41.20.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.53) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.63) by $0.10. ACADIA Pharmaceuticals had a negative return on equity of 67.68% and a negative net margin of 320.71%. The business had revenue of $35.58 million during the quarter, compared to the consensus estimate of $32.03 million. During the same period in the previous year, the business earned ($0.61) EPS. The business’s quarterly revenue was up 571.3% on a year-over-year basis. analysts forecast that ACADIA Pharmaceuticals will post -2.44 EPS for the current fiscal year.

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In other ACADIA Pharmaceuticals news, EVP Glenn Baity sold 26,507 shares of the business’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $34.87, for a total transaction of $924,299.09. Following the completion of the transaction, the executive vice president now owns 94,163 shares in the company, valued at approximately $3,283,463.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 22.25% of the company’s stock.

Several institutional investors have recently made changes to their positions in ACAD. San Francisco Sentry Investment Group CA acquired a new stake in shares of ACADIA Pharmaceuticals in the second quarter valued at $125,000. Oppenheimer Asset Management Inc. lifted its holdings in shares of ACADIA Pharmaceuticals by 10.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 5,133 shares of the biopharmaceutical company’s stock valued at $143,000 after buying an additional 468 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of ACADIA Pharmaceuticals by 138.8% in the first quarter. PNC Financial Services Group Inc. now owns 4,384 shares of the biopharmaceutical company’s stock valued at $150,000 after buying an additional 2,548 shares during the period. Turner Investments LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the third quarter valued at $188,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of ACADIA Pharmaceuticals by 43.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,670 shares of the biopharmaceutical company’s stock valued at $214,000 after buying an additional 1,710 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system (CNS) disorders. Its lead drug candidate, NUPLAZID (pimavanserin), is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis (PD Psychosis).

Analyst Recommendations for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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