BidaskClub downgraded shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) from a hold rating to a sell rating in a report published on Wednesday.

Other equities research analysts have also issued research reports about the company. HC Wainwright restated a buy rating and set a $60.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Wednesday, November 8th. JPMorgan Chase & Co. set a $50.00 price objective on ACADIA Pharmaceuticals and gave the stock a buy rating in a research report on Thursday, October 5th. Piper Jaffray Companies restated a buy rating and set a $61.00 price objective (up previously from $54.00) on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 5th. JMP Securities boosted their price objective on ACADIA Pharmaceuticals from $47.00 to $50.00 and gave the stock an outperform rating in a research report on Thursday, October 5th. Finally, ValuEngine lowered ACADIA Pharmaceuticals from a hold rating to a sell rating in a research report on Tuesday, November 14th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $48.86.

Shares of ACADIA Pharmaceuticals (ACAD) traded up $0.47 during mid-day trading on Wednesday, reaching $28.37. The company had a trading volume of 1,694,294 shares, compared to its average volume of 1,562,579. The company has a market cap of $3,523.72, a price-to-earnings ratio of -11.58 and a beta of 3.80. ACADIA Pharmaceuticals has a twelve month low of $25.06 and a twelve month high of $41.20.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.53) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.10. The business had revenue of $35.58 million for the quarter, compared to analyst estimates of $32.03 million. ACADIA Pharmaceuticals had a negative return on equity of 67.68% and a negative net margin of 320.71%. ACADIA Pharmaceuticals’s quarterly revenue was up 571.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.61) EPS. equities analysts expect that ACADIA Pharmaceuticals will post -2.41 EPS for the current year.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Utah Retirement Systems grew its position in shares of ACADIA Pharmaceuticals by 1.1% in the 2nd quarter. Utah Retirement Systems now owns 17,600 shares of the biopharmaceutical company’s stock valued at $491,000 after buying an additional 200 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of ACADIA Pharmaceuticals by 10.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,133 shares of the biopharmaceutical company’s stock valued at $143,000 after purchasing an additional 468 shares during the period. Principal Financial Group Inc. lifted its stake in shares of ACADIA Pharmaceuticals by 3.6% in the 2nd quarter. Principal Financial Group Inc. now owns 16,810 shares of the biopharmaceutical company’s stock valued at $469,000 after purchasing an additional 579 shares during the period. HighTower Advisors LLC lifted its stake in shares of ACADIA Pharmaceuticals by 5.8% in the 2nd quarter. HighTower Advisors LLC now owns 11,821 shares of the biopharmaceutical company’s stock valued at $330,000 after purchasing an additional 650 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of ACADIA Pharmaceuticals by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 33,631 shares of the biopharmaceutical company’s stock valued at $938,000 after purchasing an additional 663 shares during the period. 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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