ACADIA Pharmaceuticals (NASDAQ:ACAD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) from a hold rating to a buy rating in a research note released on Sunday morning,Wall Street Zen reports.

Several other equities research analysts also recently weighed in on ACAD. HC Wainwright decreased their price target on shares of ACADIA Pharmaceuticals from $37.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, September 25th. UBS Group increased their price objective on shares of ACADIA Pharmaceuticals from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of ACADIA Pharmaceuticals from $38.00 to $31.00 and set a “buy” rating on the stock in a research report on Friday, September 25th. Morgan Stanley raised their target price on ACADIA Pharmaceuticals from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 25th. Finally, BMO Capital Markets decreased their target price on ACADIA Pharmaceuticals from $36.00 to $34.00 and set an “outperform” rating for the company in a research report on Thursday, September 24th. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.34.

ACADIA Pharmaceuticals Stock Down 4.1%

Shares of ACAD stock opened at $18.62 on Friday. The firm has a 50 day moving average of $26.09 and a 200-day moving average of $24.08. The company has a market cap of $3.21 billion, a price-to-earnings ratio of 8.39 and a beta of 0.88. ACADIA Pharmaceuticals has a 52 week low of $18.39 and a 52 week high of $30.96.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.11. The company had revenue of $308.00 million for the quarter, compared to the consensus estimate of $296.55 million. ACADIA Pharmaceuticals had a net margin of 33.42% and a return on equity of 9.03%. ACADIA Pharmaceuticals’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.16 EPS. Analysts anticipate that ACADIA Pharmaceuticals will post 0.64 earnings per share for the current year.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 14,292 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $29.22, for a total value of $417,612.24. Following the completion of the transaction, the executive vice president owned 67,828 shares in the company, valued at $1,981,934.16. This represents a 17.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Elizabeth Thompson sold 16,558 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $26.13, for a total value of $432,660.54. Following the completion of the transaction, the executive vice president owned 18,994 shares of the company’s stock, valued at $496,313.22. This trade represents a 46.57% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 36,699 shares of company stock worth $1,019,894. Insiders own 26.20% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of hedge funds have recently made changes to their positions in ACAD. GAMMA Investing LLC increased its stake in shares of ACADIA Pharmaceuticals by 36.1% in the third quarter. GAMMA Investing LLC now owns 4,064 shares of the biopharmaceutical company’s stock worth $82,000 after purchasing an additional 1,079 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of ACADIA Pharmaceuticals by 996.4% in the third quarter. Farther Finance Advisors LLC now owns 9,023 shares of the biopharmaceutical company’s stock valued at $182,000 after purchasing an additional 8,200 shares during the period. Valeo Financial Advisors LLC bought a new stake in shares of ACADIA Pharmaceuticals in the third quarter valued at approximately $424,000. Cim Investment Management Inc. lifted its stake in shares of ACADIA Pharmaceuticals by 7.3% during the 2nd quarter. Cim Investment Management Inc. now owns 15,273 shares of the biopharmaceutical company’s stock valued at $386,000 after buying an additional 1,034 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in shares of ACADIA Pharmaceuticals during the 2nd quarter valued at approximately $597,000. 96.71% of the stock is currently owned by institutional investors.

Key Headlines Impacting ACADIA Pharmaceuticals

Here are the key news stories impacting ACADIA Pharmaceuticals this week:

• Positive Sentiment: Nuplazid and Daybue continue to support ACADIA’s revenue growth. Potential upside opportunities include increasing demand, additional formulations and European expansion, although competition remains a risk. Can Nuplazid and Daybue Strengthen Acadia’s Growth Prospects?
• Negative Sentiment: UBS downgraded ACADIA Pharmaceuticals from Buy to Neutral and cut its price target to $23 from $49. Although the new target still implies potential upside from approximately $18.62, the steep reduction signals materially weaker confidence in the stock’s risk-reward profile and was the primary reason for the decline. UBS Downgrades ACADIA Pharmaceuticals to Neutral From Buy, $23 Price Target
• Negative Sentiment: Pomerantz LLP announced an investigation into potential claims on behalf of ACADIA investors. The announcement does not establish wrongdoing, but securities-law investigations can add reputational and legal uncertainty and weigh on investor sentiment. Pomerantz Investor Alert Regarding ACADIA Pharmaceuticals
• Negative Sentiment: The stock reached a new 52-week low near $19.01, reinforcing the technical weakness and suggesting continued selling pressure after the UBS downgrade. Acadia Pharmaceuticals Stock Hits 52-Week Low

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system disorders and rare diseases. The company is headquartered in San Diego, California, and serves patients and healthcare providers primarily in the United States.

ACADIA’s commercial products include NUPLAZID (pimavanserin), an atypical antipsychotic approved in the United States for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis.