ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD – Get a rating) received a consensus rating of “Hold” by the twenty research firms that cover the business, reports MarketBeat Ratings. One investment analyst has assigned the stock a sell rating, nine have assigned a hold rating and six have issued a buy rating for the company. The 12-month average price target among brokers who have covered the stock over the past year is $26.16.
ACAD has been the subject of several analyst reports. JPMorgan Chase & Co. downgraded shares of ACADIA Pharmaceuticals from an “overweight” rating to a “neutral” rating in a research report on Tuesday. JMP Securities cut its price target on ACADIA Pharmaceuticals shares from $42.00 to $35.00 and set a “market outperformance” rating for the company in a Tuesday, March 1 research report. Jefferies Financial Group downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to an “underperform” rating and cut its price target for the company from $25.00 to $10.00 in a report of research on Tuesday. Goldman Sachs Group cut its price target on ACADIA Pharmaceuticals shares from $27.00 to $24.00 and set a “neutral” rating for the company in a Monday, March 7 research report. Finally, Mizuho lowered its price target on ACADIA Pharmaceuticals shares from $28.00 to $27.00 and set a “neutral” rating for the company in a Tuesday, April 19 report.
In other ACADIA Pharmaceuticals news, an insider James Kihara sold 1,025 shares of the company in a transaction that took place on Friday, April 8. The shares were sold at an average price of $27.05, for a total transaction of $27,726.25. Following the completion of the transaction, the insider now owns 2,433 shares of the company, valued at $65,812.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via the SEC website. Additionally, Chairman Srdjan R. Stankovic sold 2,865 shares of the company in a transaction that took place on Monday, May 2. The shares were sold at an average price of $18.18, for a total transaction of $52,085.70. Following the transaction, the president now directly owns 55,188 shares of the company, valued at approximately $1,003,317.84. Disclosure of this sale can be found here. Insiders sold 11,472 shares of the company valued at $217,476 in the past 90 days. 28.50% of the shares are currently held by insiders of the company.
Institutional investors and hedge funds have recently changed their positions in the stock. Allworth Financial LP increased its position in ACADIA Pharmaceuticals shares by 1,081.3% during the fourth quarter. Allworth Financial LP now owns 1,075 shares of the biopharmaceutical company valued at $25,000 after acquiring 984 additional shares last quarter. Parallel Advisors LLC increased its position in ACADIA Pharmaceuticals by 74.8% in the 4th quarter. Parallel Advisors LLC now owns 1,365 shares of the biopharmaceutical company worth $32,000 after purchasing an additional 584 shares during the period. Lazard Asset Management LLC increased its position in ACADIA Pharmaceuticals by 19.4% in the fourth quarter. Lazard Asset Management LLC now owns 3,115 shares of the biopharmaceutical company worth $72,000 after purchasing an additional 506 shares during the period. Neo Ivy Capital Management acquired a new stake in ACADIA Pharmaceuticals in the 4th quarter for a value of approximately $76,000. Finally, Point72 Hong Kong Ltd increased its position in ACADIA Pharmaceuticals by 664.7% in the 1st quarter. Point72 Hong Kong Ltd now owns 6,003 shares in the biopharmaceutical company worth $145,000 after buying an additional 5,218 shares during the period. 91.74% of the shares are held by institutional investors.
ACAD opened at $13.01 on Wednesday. The stock has a market capitalization of $2.10 billion, a PE ratio of -9.78 and a beta of 0.68. ACADIA Pharmaceuticals has a 52-week low of $12.24 and a 52-week high of $28.06. The company’s 50-day simple moving average is $18.26 and its 200-day simple moving average is $22.11.
ACADIA Pharmaceuticals (NASDAQ: ACAD- Get a rating) last released its quarterly results on Wednesday, May 4. The biopharmaceutical company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.21). ACADIA Pharmaceuticals posted a negative net margin of 43.50% and a negative return on equity of 40.52%. The company posted revenue of $115.47 million for the quarter, versus $122.22 million expected by analysts. In the same quarter of the previous year, the company made ($0.42) earnings per share. The company’s quarterly revenue increased 8.4% year over year. As a group, equity research analysts expect ACADIA Pharmaceuticals to post year-to-date EPS of -1.41.
About ACADIA Pharmaceuticals (Get a rating)
ACADIA Pharmaceuticals Inc, a biopharmaceutical company, is focused 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 psychosis in Parkinson’s disease.
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