ACADIA Pharmaceuticals (NASDAQ:ACAD) Rating Lowered to “Buy” at StockNews.com

StockNews.com cut shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) from a strong-buy rating to a buy rating in a research note published on Thursday morning.

Several other research firms also recently issued reports on ACAD. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Raymond James reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 10th. Morgan Stanley cut shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $28.00 to $20.00 in a report on Wednesday, August 7th. Cantor Fitzgerald reduced their target price on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Finally, Royal Bank of Canada dropped their price target on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.56.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD stock opened at $16.77 on Thursday. ACADIA Pharmaceuticals has a 1-year low of $14.15 and a 1-year high of $32.59. The firm has a market cap of $2.79 billion, a PE ratio of 21.50 and a beta of 0.38. The company has a 50-day moving average of $15.56 and a two-hundred day moving average of $15.99.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The firm had revenue of $250.40 million during the quarter, compared to analysts’ expectations of $248.83 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.40) EPS. Sell-side analysts anticipate that ACADIA Pharmaceuticals will post 0.72 EPS for the current fiscal year.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the business. Park Place Capital Corp purchased a new position in ACADIA Pharmaceuticals in the third quarter valued at approximately $25,000. Values First Advisors Inc. purchased a new position in shares of ACADIA Pharmaceuticals in the 3rd quarter valued at $27,000. Covestor Ltd raised its stake in ACADIA Pharmaceuticals by 70.5% during the 1st quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 840 shares in the last quarter. Headlands Technologies LLC purchased a new stake in ACADIA Pharmaceuticals in the first quarter valued at $48,000. Finally, Quest Partners LLC boosted its stake in ACADIA Pharmaceuticals by 42.3% in the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock valued at $54,000 after acquiring an additional 1,047 shares in the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

About ACADIA Pharmaceuticals

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.