BidaskClub downgraded shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.

ACAD has been the topic of a number of other research reports. Leerink Swann restated a market perform rating on shares of ACADIA Pharmaceuticals in a report on Monday, October 9th. HC Wainwright restated a buy rating and set a $60.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, October 5th. JMP Securities raised their price target on shares of ACADIA Pharmaceuticals from $47.00 to $50.00 and gave the company an outperform rating in a report on Thursday, October 5th. Jefferies Group restated a buy rating and set a $47.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, October 12th. Finally, Zacks Investment Research upgraded shares of ACADIA Pharmaceuticals from a hold rating to a buy rating and set a $30.00 price target on the stock in a report on Wednesday, November 15th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $48.86.

ACADIA Pharmaceuticals (NASDAQ ACAD) traded up $0.47 during mid-day trading on Wednesday, reaching $28.37. 1,694,294 shares of the company’s stock were exchanged, compared to its average volume of 1,562,579. ACADIA Pharmaceuticals has a 12 month low of $25.06 and a 12 month high of $41.20. The stock has a market cap of $3,523.72, a P/E ratio of -11.58 and a beta of 3.80.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.53) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.10. The business had revenue of $35.58 million for the quarter, compared to the consensus estimate of $32.03 million. ACADIA Pharmaceuticals had a negative net margin of 320.71% and a negative return on equity of 67.68%. ACADIA Pharmaceuticals’s revenue for the quarter was up 571.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.61) EPS. research analysts predict that ACADIA Pharmaceuticals will post -2.41 earnings per share for the current fiscal year.

In related news, EVP Glenn Baity sold 74,321 shares of ACADIA Pharmaceuticals stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $30.14, for a total value of $2,240,034.94. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Laura Brege sold 25,000 shares of ACADIA Pharmaceuticals stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $30.06, for a total transaction of $751,500.00. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $450,900. The disclosure for this sale can be found here. Company insiders own 22.25% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in ACAD. Janus Henderson Group PLC bought a new position in ACADIA Pharmaceuticals in the 2nd quarter worth $102,152,000. Goldman Sachs Group Inc. grew its position in ACADIA Pharmaceuticals by 69.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,908,251 shares of the biopharmaceutical company’s stock worth $53,222,000 after purchasing an additional 785,352 shares during the last quarter. State Street Corp grew its position in ACADIA Pharmaceuticals by 15.8% in the 2nd quarter. State Street Corp now owns 3,748,468 shares of the biopharmaceutical company’s stock worth $104,551,000 after purchasing an additional 510,670 shares during the last quarter. Elliott Management Corp grew its position in ACADIA Pharmaceuticals by 61.7% in the 2nd quarter. Elliott Management Corp now owns 1,256,795 shares of the biopharmaceutical company’s stock worth $35,052,000 after purchasing an additional 479,413 shares during the last quarter. Finally, Sectoral Asset Management Inc grew its position in ACADIA Pharmaceuticals by 63.7% in the 2nd quarter. Sectoral Asset Management Inc now owns 1,098,809 shares of the biopharmaceutical company’s stock worth $30,646,000 after purchasing an additional 427,696 shares during the last quarter. Hedge funds and other institutional investors own 94.02% of the company’s stock.

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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).

Analyst Recommendations for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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