ACADIA Pharmaceuticals (NASDAQ:ACAD) Downgraded to Neutral Rating by Guggenheim

ACADIA Pharmaceuticals (NASDAQ:ACAD) was downgraded by Guggenheim from a “buy” rating to a “neutral” rating in a research note issued on Friday,Briefing.com Automated Import reports. They currently have a $20.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $23.00. Guggenheim’s price objective points to a potential upside of 7.18% from the stock’s current price.

Several other analysts have also weighed in on the company. StockNews.com lowered ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. Raymond James reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Finally, HC Wainwright reissued a “buy” rating and set a $27.00 target price on shares of ACADIA Pharmaceuticals in a research note 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 stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $25.25.

ACADIA Pharmaceuticals Stock Performance

Shares of ACADIA Pharmaceuticals stock opened at $18.66 on Friday. ACADIA Pharmaceuticals has a fifty-two week low of $14.15 and a fifty-two week high of $31.10. The company has a market capitalization of $3.10 billion, a P/E ratio of 23.92 and a beta of 0.40. The company has a fifty day moving average of $16.73 and a 200 day moving average of $16.37.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued 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 during the quarter, compared to analyst estimates of $248.83 million. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.40) earnings per share. Analysts forecast that ACADIA Pharmaceuticals will post 0.73 EPS for the current year.

Insider Transactions at ACADIA Pharmaceuticals

In other news, CFO Mark C. Schneyer sold 10,259 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $172,453.79. Following the sale, the chief financial officer now directly owns 53,302 shares of the company’s stock, valued at approximately $896,006.62. The trade was a 16.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James Kihara sold 4,073 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $68,467.13. Following the completion of the sale, the insider now owns 19,863 shares of the company’s stock, valued at $333,897.03. This trade represents a 17.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,661 shares of company stock valued at $414,551 over the last 90 days. 28.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Large investors have recently bought and sold shares of the stock. Park Place Capital Corp acquired a new stake in ACADIA Pharmaceuticals in the third quarter valued at $25,000. Values First Advisors Inc. acquired a new stake in shares of ACADIA Pharmaceuticals during the 3rd quarter worth about $27,000. Quest Partners LLC lifted its stake in ACADIA Pharmaceuticals by 42.3% during the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 1,047 shares during the last quarter. Stonepine Capital Management LLC acquired a new position in ACADIA Pharmaceuticals in the second quarter valued at approximately $81,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in ACADIA Pharmaceuticals by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 1,066 shares during the last quarter. Hedge funds and other 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.