ACADIA Pharmaceuticals (NASDAQ:ACAD) Lowered to “Neutral” Rating by Guggenheim

ACADIA Pharmaceuticals (NASDAQ:ACAD) was downgraded by equities research analysts at Guggenheim from a “buy” rating to a “neutral” rating in a report released on Friday,Briefing.com Automated Import reports. They currently have a $20.00 price target on the biopharmaceutical company’s stock, down from their prior price target of $23.00. Guggenheim’s price target indicates a potential upside of 7.18% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Needham & Company LLC reissued a “buy” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Raymond James reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 10th. StockNews.com downgraded ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Finally, HC Wainwright reissued a “buy” rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $25.25.

ACADIA Pharmaceuticals Trading Up 1.7 %

ACADIA Pharmaceuticals stock opened at $18.66 on Friday. The stock has a 50 day moving average of $16.73 and a two-hundred day moving average of $16.37. ACADIA Pharmaceuticals has a twelve month low of $14.15 and a twelve month high of $31.10. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 23.92 and a beta of 0.40.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The firm had revenue of $250.40 million for the quarter, compared to analyst estimates of $248.83 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. ACADIA Pharmaceuticals’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period last year, the firm posted ($0.40) EPS. Equities analysts predict that ACADIA Pharmaceuticals will post 0.73 earnings per share for the current year.

Insider Activity

In related news, COO Brendan Teehan sold 10,329 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $173,630.49. Following the transaction, the chief operating officer now directly owns 62,105 shares in the company, valued at $1,043,985.05. This trade represents a 14.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider James Kihara sold 4,073 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $68,467.13. Following the completion of the sale, the insider now directly owns 19,863 shares in the company, valued at $333,897.03. This represents a 17.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 24,661 shares of company stock worth $414,551. 28.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Barclays PLC grew its stake in shares of ACADIA Pharmaceuticals by 126.2% in the third quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company’s stock worth $4,269,000 after purchasing an additional 154,854 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in ACADIA Pharmaceuticals during the third quarter valued at about $483,000. Fred Alger Management LLC raised its position in ACADIA Pharmaceuticals by 19.8% in the second quarter. Fred Alger Management LLC now owns 2,704,439 shares of the biopharmaceutical company’s stock worth $43,947,000 after acquiring an additional 446,875 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of ACADIA Pharmaceuticals by 259.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 223,618 shares of the biopharmaceutical company’s stock valued at $3,439,000 after purchasing an additional 161,331 shares in the last quarter. Finally, US Bancorp DE raised its holdings in shares of ACADIA Pharmaceuticals by 2,084.0% in the 3rd quarter. US Bancorp DE now owns 32,934 shares of the biopharmaceutical company’s stock worth $507,000 after purchasing an additional 31,426 shares in the last quarter. Institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization innovative medicines that address unmet medical needs in central nervous system (CNS) disorders and rare diseases in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for treatment of Rett Syndrome.