ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) was upgraded by investment analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued to investors on Thursday.

A number of other equities analysts also recently weighed in on the company. BidaskClub raised ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 21st. Zacks Investment Research raised ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, April 14th. Rodman & Renshaw reissued a “buy” rating and set a $60.00 price target on shares of ACADIA Pharmaceuticals in a research report on Monday, May 22nd. HC Wainwright reissued a “buy” rating on shares of ACADIA Pharmaceuticals in a research report on Wednesday, May 10th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $47.00 price target on shares of ACADIA Pharmaceuticals in a research report on Wednesday, April 12th. Two 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’s stock. The stock currently has an average rating of “Hold” and an average target price of $42.48.

Shares of ACADIA Pharmaceuticals (NASDAQ ACAD) opened at 33.21 on Thursday. The firm’s market cap is $4.05 billion. ACADIA Pharmaceuticals has a 12-month low of $20.68 and a 12-month high of $40.83. The firm has a 50-day moving average price of $29.25 and a 200-day moving average price of $32.03.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.55) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.17. The firm had revenue of $30.50 million for the quarter, compared to the consensus estimate of $20.02 million. ACADIA Pharmaceuticals had a negative return on equity of 59.00% and a negative net margin of 485.14%. The business’s revenue was up 30400.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.63) earnings per share. Equities research analysts anticipate that ACADIA Pharmaceuticals will post ($2.79) EPS for the current year.

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In related news, EVP Glenn Baity sold 38,097 shares of the stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $30.00, for a total transaction of $1,142,910.00. Following the sale, the executive vice president now owns 109,253 shares of the company’s stock, valued at $3,277,590. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 22.25% of the company’s stock.

A number of large investors have recently modified their holdings of the company. Envestnet Asset Management Inc. increased its stake in shares of ACADIA Pharmaceuticals by 23.0% in the first quarter. Envestnet Asset Management Inc. now owns 3,296 shares of the biopharmaceutical company’s stock worth $113,000 after buying an additional 617 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake 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 worth $143,000 after buying an additional 468 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth about $145,000. PNC Financial Services Group Inc. increased its stake 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 worth $150,000 after buying an additional 2,548 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of ACADIA Pharmaceuticals by 12.8% in the first quarter. Nisa Investment Advisors LLC now owns 4,510 shares of the biopharmaceutical company’s stock worth $155,000 after buying an additional 510 shares in the last quarter. 97.34% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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