ACADIA Pharmaceuticals Inc. (ACAD) Rating Lowered to Sell at Zacks Investment Research
Zacks Investment Research downgraded shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) from a buy rating to a sell rating in a report released on Monday morning.
According to Zacks, “Acadia Pharmaceuticals is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule drugs for the treatment of central nervous system disorders. Their three clinical programs are ACP-103 for treatment-induced dysfunction in Parkinson’s disease, and ACP-104 and ACP-103, both for the treatment of schizophrenia. “
Other analysts have also issued reports about the stock. Rodman & Renshaw restated a buy rating and issued a $60.00 price objective on shares of ACADIA Pharmaceuticals in a report on Monday, May 22nd. Needham & Company LLC restated a buy rating and issued a $49.00 price objective on shares of ACADIA Pharmaceuticals in a report on Wednesday, April 5th. BidaskClub upgraded shares of ACADIA Pharmaceuticals from a strong sell rating to a sell rating in a report on Wednesday, June 21st. Jefferies Group LLC restated a buy rating and issued a $47.00 price objective on shares of ACADIA Pharmaceuticals in a report on Wednesday, April 12th. Finally, ValuEngine upgraded shares of ACADIA Pharmaceuticals from a strong sell rating to a sell rating in a report on Friday, June 2nd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. ACADIA Pharmaceuticals presently has an average rating of Hold and a consensus target price of $42.14.
ACADIA Pharmaceuticals (NASDAQ:ACAD) opened at 30.09 on Monday. The company’s market cap is $3.67 billion. The firm’s 50-day moving average is $27.92 and its 200-day moving average is $32.16. ACADIA Pharmaceuticals has a 52-week low of $20.68 and a 52-week high of $40.83.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Tuesday, May 9th. The biopharmaceutical company reported ($0.72) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.73) by $0.01. The firm had revenue of $15.30 million for the quarter, compared to analyst estimates of $15.17 million. ACADIA Pharmaceuticals had a negative net margin of 948.93% and a negative return on equity of 63.07%. During the same period in the previous year, the firm earned ($0.45) EPS. On average, equities research analysts anticipate that ACADIA Pharmaceuticals will post ($2.82) EPS for the current year.
In other ACADIA Pharmaceuticals news, EVP Glenn Baity sold 1,903 shares of ACADIA Pharmaceuticals stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $30.00, for a total value of $57,090.00. Following the completion of the transaction, the executive vice president now directly owns 83,059 shares of the company’s stock, valued at approximately $2,491,770. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 22.25% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of ACADIA Pharmaceuticals by 5,422.8% in the first quarter. BlackRock Inc. now owns 5,433,209 shares of the biopharmaceutical company’s stock worth $186,791,000 after buying an additional 5,334,832 shares in the last quarter. Norges Bank bought a new position in shares of ACADIA Pharmaceuticals during the fourth quarter worth approximately $24,050,000. Elliott Management Corp bought a new position in shares of ACADIA Pharmaceuticals during the first quarter worth approximately $26,726,000. Point72 Asset Management L.P. increased its position in shares of ACADIA Pharmaceuticals by 57.6% in the first quarter. Point72 Asset Management L.P. now owns 1,931,200 shares of the biopharmaceutical company’s stock worth $66,395,000 after buying an additional 706,200 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of ACADIA Pharmaceuticals by 134.7% in the first quarter. Ameriprise Financial Inc. now owns 882,722 shares of the biopharmaceutical company’s stock worth $30,329,000 after buying an additional 506,605 shares in the last quarter. 97.13% of the stock is owned by institutional investors.
About ACADIA Pharmaceuticals
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).
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