ACADIA Pharmaceuticals Inc. (ACAD) Rating Lowered to Sell at ValuEngine
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
ACAD has been the topic of a number of other research reports. Zacks Investment Research cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “sell” rating in a report on Monday, July 17th. BidaskClub upgraded shares of ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Leerink Swann restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research note on Monday, October 9th. HC Wainwright restated a “buy” rating and issued a $60.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 5th. Finally, Cowen and Company restated an “outperform” rating and issued a $46.00 price target (up previously from $42.00) on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. ACADIA Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $47.44.
ACADIA Pharmaceuticals (NASDAQ ACAD) opened at $26.84 on Tuesday. ACADIA Pharmaceuticals has a twelve month low of $24.31 and a twelve month high of $41.20.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.63) by $0.10. ACADIA Pharmaceuticals had a negative net margin of 320.71% and a negative return on equity of 67.68%. The firm had revenue of $35.58 million for the quarter, compared to analysts’ expectations of $32.03 million. During the same quarter last year, the company posted ($0.61) earnings per share. ACADIA Pharmaceuticals’s revenue was up 571.3% on a year-over-year basis. equities analysts predict that ACADIA Pharmaceuticals will post -2.42 earnings per share for the current fiscal year.
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In related news, EVP Glenn Baity sold 37,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $40.91, for a total transaction of $1,534,125.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 22.25% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the stock. FMR LLC boosted its holdings in ACADIA Pharmaceuticals by 0.5% during the second quarter. FMR LLC now owns 18,306,966 shares of the biopharmaceutical company’s stock worth $510,582,000 after buying an additional 95,823 shares in the last quarter. Vanguard Group Inc. boosted its holdings in ACADIA Pharmaceuticals by 1.8% during the second quarter. Vanguard Group Inc. now owns 7,604,605 shares of the biopharmaceutical company’s stock worth $212,093,000 after buying an additional 134,820 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in ACADIA Pharmaceuticals by 62.7% during the third quarter. Janus Henderson Group PLC now owns 5,958,548 shares of the biopharmaceutical company’s stock worth $224,459,000 after buying an additional 2,295,881 shares in the last quarter. BlackRock Inc. boosted its holdings in ACADIA Pharmaceuticals by 2.9% during the second quarter. BlackRock Inc. now owns 5,590,706 shares of the biopharmaceutical company’s stock worth $155,925,000 after buying an additional 157,497 shares in the last quarter. Finally, State Street Corp boosted its holdings in ACADIA Pharmaceuticals by 15.8% during the second quarter. State Street Corp now owns 3,748,468 shares of the biopharmaceutical company’s stock worth $104,551,000 after buying an additional 510,670 shares in the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.
ACADIA Pharmaceuticals Company Profile
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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