ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research note issued to investors on Monday.

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. “

A number of other equities research analysts also recently commented on ACAD. Rodman & Renshaw reissued a “buy” rating and issued a $60.00 target price on shares of ACADIA Pharmaceuticals in a report on Monday, May 22nd. HC Wainwright reissued a “buy” rating on shares of ACADIA Pharmaceuticals in a report on Wednesday, May 10th. Jefferies Group LLC restated a “buy” rating and issued a $47.00 price target on shares of ACADIA Pharmaceuticals in a research report on Wednesday, April 12th. Needham & Company LLC restated a “buy” rating and issued a $49.00 price target on shares of ACADIA Pharmaceuticals in a research report on Wednesday, April 5th. Finally, BidaskClub upgraded ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 21st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. ACADIA Pharmaceuticals has a consensus rating of “Hold” and an average price target of $42.14.

Shares of ACADIA Pharmaceuticals (NASDAQ ACAD) traded up 0.91% on Monday, hitting $28.85. 1,248,224 shares of the stock were exchanged. The company’s 50 day moving average is $27.46 and its 200-day moving average is $32.02. ACADIA Pharmaceuticals has a 52-week low of $20.68 and a 52-week high of $40.83. The stock’s market cap is $3.52 billion.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.72) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.73) by $0.01. The company had revenue of $15.30 million for the quarter, compared to analyst estimates of $15.17 million. ACADIA Pharmaceuticals had a negative net margin of 948.93% and a negative return on equity of 63.07%. During the same period in the prior year, the firm posted ($0.45) earnings per share. Analysts predict that ACADIA Pharmaceuticals will post ($2.83) EPS for the current fiscal year.

WARNING: This piece was first published by American Banking News and is the property of of American Banking News. If you are reading this piece on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark laws. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2017/07/17/acadia-pharmaceuticals-inc-acad-downgraded-by-zacks-investment-research.html.

In other news, EVP Glenn Baity sold 1,903 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $30.00, for a total value of $57,090.00. Following the completion of the sale, the executive vice president now directly owns 83,059 shares in the company, valued at approximately $2,491,770. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 22.25% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of ACAD. Candriam Luxembourg S.C.A. purchased a new stake in shares of ACADIA Pharmaceuticals during the first quarter worth $2,097,000. Jana Partners LLC increased its position in shares of ACADIA Pharmaceuticals by 39.8% in the first quarter. Jana Partners LLC now owns 421,140 shares of the biopharmaceutical company’s stock worth $14,479,000 after buying an additional 119,897 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of ACADIA Pharmaceuticals by 134.7% in the first quarter. Ameriprise Financial Inc. now owns 882,722 shares of the biopharmaceutical company’s stock worth $30,329,000 after buying an additional 506,605 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of ACADIA Pharmaceuticals by 22.2% in the first quarter. Pacer Advisors Inc. now owns 13,674 shares of the biopharmaceutical company’s stock worth $470,000 after buying an additional 2,480 shares during the last quarter. Finally, Elliott Management Corp bought a new position in shares of ACADIA Pharmaceuticals during the first quarter worth approximately $26,726,000. Institutional investors and hedge funds own 97.13% of the company’s stock.

ACADIA Pharmaceuticals Company Profile

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).

Get a free copy of the Zacks research report on ACADIA Pharmaceuticals (ACAD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for ACADIA Pharmaceuticals (NASDAQ:ACAD)

Receive News & Ratings for ACADIA Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ACADIA Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.