ACADIA Pharmaceuticals (ACAD) Cut to “Hold” at Zacks Investment Research

ACADIA Pharmaceuticals (NASDAQ:ACAD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released 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. “

ACAD has been the topic of a number of other reports. HC Wainwright restated a “buy” rating and issued a $60.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, October 5th. Ladenburg Thalmann Financial Services restated a “buy” rating and issued a $50.00 price objective (up from $48.00) on shares of ACADIA Pharmaceuticals in a report on Monday, October 2nd. Needham & Company LLC restated a “buy” rating and issued a $49.00 price objective on shares of ACADIA Pharmaceuticals in a report on Sunday, September 17th. JPMorgan Chase & Co. set a $50.00 price objective on shares of ACADIA Pharmaceuticals and gave the company a “buy” rating in a report on Thursday, October 5th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $61.00 price objective (up from $54.00) on shares of ACADIA Pharmaceuticals in a report on Thursday, October 5th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $48.86.

ACADIA Pharmaceuticals (NASDAQ ACAD) traded up $0.47 during trading on Monday, reaching $28.37. 1,694,294 shares of the company’s stock were exchanged, compared to its average volume of 2,066,911. The firm has a market cap of $3,470.00, a price-to-earnings ratio of -11.53 and a beta of 3.79. ACADIA Pharmaceuticals has a 12 month low of $25.06 and a 12 month high of $41.20.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.63) by $0.10. The company had revenue of $35.58 million for the quarter, compared to analyst estimates of $32.03 million. ACADIA Pharmaceuticals had a negative net margin of 320.71% and a negative return on equity of 67.68%. The firm’s quarterly revenue was up 571.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.61) EPS. analysts anticipate that ACADIA Pharmaceuticals will post -2.41 EPS for the current fiscal year.

In other ACADIA Pharmaceuticals news, Director Laura Brege sold 25,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $30.06, for a total transaction of $751,500.00. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $450,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Glenn Baity sold 74,321 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $30.14, for a total transaction of $2,240,034.94. The disclosure for this sale can be found here. Company insiders own 22.25% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. California Public Employees Retirement System grew its position in ACADIA Pharmaceuticals by 1.9% during the 3rd quarter. California Public Employees Retirement System now owns 153,200 shares of the biopharmaceutical company’s stock worth $5,771,000 after purchasing an additional 2,800 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its position in ACADIA Pharmaceuticals by 56.8% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,509 shares of the biopharmaceutical company’s stock worth $247,000 after purchasing an additional 2,358 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in ACADIA Pharmaceuticals by 261.6% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 9,578 shares of the biopharmaceutical company’s stock worth $361,000 after purchasing an additional 6,929 shares during the last quarter. Kalos Management Inc. purchased a new position in ACADIA Pharmaceuticals during the 3rd quarter worth $570,000. Finally, Janus Henderson Group PLC grew its position in ACADIA Pharmaceuticals by 62.7% during the 3rd quarter. Janus Henderson Group PLC now owns 5,958,548 shares of the biopharmaceutical company’s stock worth $224,459,000 after purchasing an additional 2,295,881 shares during the last quarter. 94.02% of the stock is currently owned by institutional investors.

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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).

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