ValuEngine Downgrades ACADIA Pharmaceuticals (ACAD) to Hold

ValuEngine cut shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) from a buy rating to a hold rating in a research report report published on Wednesday morning, ValuEngine reports.

ACAD has been the subject of a number of other reports. JPMorgan Chase & Co. reiterated a buy rating on shares of ACADIA Pharmaceuticals in a research report on Sunday, March 3rd. Canaccord Genuity upped their price objective on shares of ACADIA Pharmaceuticals from $23.00 to $27.00 and gave the company an in-line rating in a report on Wednesday, February 27th. Zacks Investment Research raised shares of ACADIA Pharmaceuticals from a hold rating to a strong-buy rating and set a $25.00 price objective for the company in a report on Thursday, January 17th. BidaskClub lowered shares of ACADIA Pharmaceuticals from a buy rating to a hold rating in a report on Friday, February 22nd. Finally, Cantor Fitzgerald reissued a buy rating and issued a $30.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $30.18.

Shares of NASDAQ ACAD traded up $1.02 during mid-day trading on Wednesday, reaching $26.52. The company’s stock had a trading volume of 1,629,783 shares, compared to its average volume of 1,492,198. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of -13.67 and a beta of 3.18. ACADIA Pharmaceuticals has a 1-year low of $12.77 and a 1-year high of $28.67.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.59) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.54) by ($0.05). The business had revenue of $62.90 million during the quarter, compared to analyst estimates of $60.93 million. ACADIA Pharmaceuticals had a negative net margin of 109.56% and a negative return on equity of 77.14%. ACADIA Pharmaceuticals’s quarterly revenue was up 28.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.44) earnings per share. Equities research analysts expect that ACADIA Pharmaceuticals will post -1.87 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in ACAD. FMR LLC grew its holdings in shares of ACADIA Pharmaceuticals by 14.9% in the fourth quarter. FMR LLC now owns 21,543,893 shares of the biopharmaceutical company’s stock valued at $348,364,000 after purchasing an additional 2,792,885 shares during the period. Great Point Partners LLC grew its holdings in shares of ACADIA Pharmaceuticals by 130.1% in the fourth quarter. Great Point Partners LLC now owns 2,752,256 shares of the biopharmaceutical company’s stock valued at $44,504,000 after purchasing an additional 1,556,158 shares during the period. Norges Bank purchased a new position in ACADIA Pharmaceuticals during the fourth quarter worth about $15,717,000. Millennium Management LLC boosted its stake in ACADIA Pharmaceuticals by 116.2% during the fourth quarter. Millennium Management LLC now owns 905,416 shares of the biopharmaceutical company’s stock worth $14,641,000 after buying an additional 486,673 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in ACADIA Pharmaceuticals by 160,091.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 395,674 shares of the biopharmaceutical company’s stock worth $6,398,000 after buying an additional 395,427 shares during the period. 96.99% of the stock is owned by hedge funds and other institutional investors.

ACADIA Pharmaceuticals Company Profile

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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Analyst Recommendations for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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