Zacks Investment Research cut shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) from a hold rating to a sell rating in a report published on Monday morning.

According to Zacks, “Acadia Pharmaceuticals is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule drugs for the treatment of central nervous system disorders. Their three clinical programs are ACP-103 for treatment-induced dysfunction in Parkinson’s disease, and ACP-104 and ACP-103, both for the treatment of schizophrenia. “

Other equities analysts have also recently issued research reports about the stock. Cantor Fitzgerald reaffirmed a buy rating and set a $25.00 price target on shares of ACADIA Pharmaceuticals in a research report on Wednesday, August 29th. BidaskClub cut shares of ACADIA Pharmaceuticals from a hold rating to a sell rating in a research report on Thursday, August 9th. JMP Securities reduced their price target on shares of ACADIA Pharmaceuticals from $50.00 to $27.00 and set a market outperform rating on the stock in a research report on Thursday, August 9th. HC Wainwright reaffirmed a buy rating and set a $60.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, August 9th. Finally, Stifel Nicolaus assumed coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, August 7th. They set a hold rating and a $17.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $38.38.

Shares of ACAD stock opened at $13.76 on Monday. ACADIA Pharmaceuticals has a one year low of $12.77 and a one year high of $41.20.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.06). ACADIA Pharmaceuticals had a negative return on equity of 78.56% and a negative net margin of 135.99%. The company had revenue of $57.06 million for the quarter, compared to the consensus estimate of $58.63 million. During the same period in the previous year, the business posted ($0.55) EPS. The business’s revenue for the quarter was up 87.2% on a year-over-year basis. analysts expect that ACADIA Pharmaceuticals will post -2.1 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in ACADIA Pharmaceuticals by 46.4% during the second quarter. BlackRock Inc. now owns 9,735,101 shares of the biopharmaceutical company’s stock worth $148,654,000 after acquiring an additional 3,085,874 shares during the period. OppenheimerFunds Inc. raised its stake in ACADIA Pharmaceuticals by 2.6% during the second quarter. OppenheimerFunds Inc. now owns 4,458,376 shares of the biopharmaceutical company’s stock worth $68,080,000 after acquiring an additional 112,430 shares during the period. Orbimed Advisors LLC raised its stake in ACADIA Pharmaceuticals by 28.2% during the second quarter. Orbimed Advisors LLC now owns 4,282,400 shares of the biopharmaceutical company’s stock worth $65,392,000 after acquiring an additional 941,700 shares during the period. First Trust Advisors LP raised its stake in ACADIA Pharmaceuticals by 47.7% during the second quarter. First Trust Advisors LP now owns 2,603,446 shares of the biopharmaceutical company’s stock worth $39,755,000 after acquiring an additional 840,425 shares during the period. Finally, Palo Alto Investors LP raised its stake in ACADIA Pharmaceuticals by 0.6% during the first quarter. Palo Alto Investors LP now owns 1,650,780 shares of the biopharmaceutical company’s stock worth $37,093,000 after acquiring an additional 9,750 shares during the period. Hedge funds and other institutional investors own 92.96% of the company’s stock.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.

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