ACADIA Pharmaceuticals (NASDAQ:ACAD) Lowered to Sell at BidaskClub

BidaskClub cut shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) from a hold rating to a sell rating in a report published on Saturday, BidAskClub reports.

A number of other research firms also recently weighed in on ACAD. ValuEngine raised ACADIA Pharmaceuticals from a hold rating to a buy rating in a research note on Tuesday, September 10th. Cowen reissued a buy rating and issued a $66.00 price target on shares of ACADIA Pharmaceuticals in a research note on Monday, September 9th. Leerink Swann raised ACADIA Pharmaceuticals from a market perform rating to an outperform rating and raised their price objective for the stock from $21.00 to $50.00 in a research note on Friday. Piper Jaffray Companies raised their price objective on ACADIA Pharmaceuticals from $35.00 to $56.00 and gave the stock an overweight rating in a research note on Monday, September 9th. Finally, Zacks Investment Research downgraded ACADIA Pharmaceuticals from a buy rating to a hold rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $45.86.

Shares of ACAD stock traded up $1.31 during trading hours on Friday, reaching $40.45. The company had a trading volume of 2,609,058 shares, compared to its average volume of 2,504,109. The company has a 50 day moving average of $28.44 and a 200 day moving average of $26.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.79 and a current ratio of 6.85. ACADIA Pharmaceuticals has a 1-year low of $13.53 and a 1-year high of $43.98.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.38) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.46) by $0.08. The company had revenue of $83.21 million for the quarter, compared to the consensus estimate of $72.50 million. ACADIA Pharmaceuticals had a negative return on equity of 70.97% and a negative net margin of 101.45%. The firm’s quarterly revenue was up 45.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.51) EPS. Equities research analysts forecast that ACADIA Pharmaceuticals will post -1.87 EPS for the current year.

In other ACADIA Pharmaceuticals news, insider Eric Alejandro Miller sold 4,645 shares of ACADIA Pharmaceuticals stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $41.18, for a total value of $191,281.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James M. Daly sold 30,000 shares of ACADIA Pharmaceuticals stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $37.80, for a total value of $1,134,000.00. Following the completion of the sale, the director now directly owns 30,000 shares in the company, valued at approximately $1,134,000. The disclosure for this sale can be found here. Insiders have sold a total of 63,112 shares of company stock worth $2,449,443 in the last ninety days. 29.40% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in shares of ACADIA Pharmaceuticals by 5.8% in the 1st quarter. BlackRock Inc. now owns 10,718,708 shares of the biopharmaceutical company’s stock valued at $287,799,000 after purchasing an additional 585,242 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of ACADIA Pharmaceuticals by 2.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 7,537,393 shares of the biopharmaceutical company’s stock valued at $201,475,000 after purchasing an additional 179,737 shares during the period. First Trust Advisors LP raised its stake in shares of ACADIA Pharmaceuticals by 16.4% in the 1st quarter. First Trust Advisors LP now owns 4,815,776 shares of the biopharmaceutical company’s stock valued at $129,304,000 after purchasing an additional 677,051 shares during the period. Invesco Ltd. raised its stake in shares of ACADIA Pharmaceuticals by 950.3% in the 2nd quarter. Invesco Ltd. now owns 4,015,482 shares of the biopharmaceutical company’s stock valued at $107,334,000 after purchasing an additional 3,633,171 shares during the period. Finally, OppenheimerFunds Inc. raised its stake in shares of ACADIA Pharmaceuticals by 0.4% in the 1st quarter. OppenheimerFunds Inc. now owns 3,644,406 shares of the biopharmaceutical company’s stock valued at $97,852,000 after purchasing an additional 15,830 shares during the period. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

About ACADIA Pharmaceuticals

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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