ACADIA Pharmaceuticals Inc. (ACAD) Upgraded at ValuEngine

ValuEngine upgraded shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) from a strong sell rating to a sell rating in a research note published on Thursday.

A number of other research analysts have also recently weighed in on ACAD. Cowen and Company reiterated an outperform rating and issued a $46.00 target price (up previously from $42.00) on shares of ACADIA Pharmaceuticals in a report on Thursday. HC Wainwright reiterated a buy rating and issued a $60.00 target price on shares of ACADIA Pharmaceuticals in a report on Wednesday. BidaskClub upgraded ACADIA Pharmaceuticals from a sell rating to a hold rating in a report on Monday, July 24th. Zacks Investment Research cut ACADIA Pharmaceuticals from a buy rating to a sell rating in a report on Monday, July 17th. Finally, Jefferies Group LLC reiterated a buy rating and issued a $47.00 target price on shares of ACADIA Pharmaceuticals in a report on Wednesday, April 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $43.23.

ACADIA Pharmaceuticals (ACAD) traded up 3.24% during trading on Thursday, reaching $31.21. The company’s stock had a trading volume of 2,092,205 shares. The company’s market capitalization is $3.82 billion. The company has a 50 day moving average price of $29.35 and a 200-day moving average price of $32.02. ACADIA Pharmaceuticals has a 52 week low of $20.68 and a 52 week high of $40.83.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.55) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.72) by $0.17. ACADIA Pharmaceuticals had a negative return on equity of 62.08% and a negative net margin of 485.14%. The firm had revenue of $30.50 million for the quarter, compared to analysts’ expectations of $20.02 million. During the same quarter last year, the firm earned ($0.63) earnings per share. The firm’s revenue for the quarter was up 30400.0% compared to the same quarter last year. Equities research analysts anticipate that ACADIA Pharmaceuticals will post ($2.58) earnings per share for the current year.

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In other ACADIA Pharmaceuticals news, EVP Glenn Baity sold 38,097 shares of the business’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $30.00, for a total transaction of $1,142,910.00. Following the transaction, the executive vice president now owns 109,253 shares in the company, valued at $3,277,590. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 54,322 shares of company stock worth $1,699,551. 22.25% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the company. American Century Companies Inc. raised its stake in shares of ACADIA Pharmaceuticals by 27.2% in the first quarter. American Century Companies Inc. now owns 16,873 shares of the biopharmaceutical company’s stock worth $580,000 after buying an additional 3,610 shares during the last quarter. Geneva Advisors LLC raised its stake in shares of ACADIA Pharmaceuticals by 8.4% in the first quarter. Geneva Advisors LLC now owns 18,002 shares of the biopharmaceutical company’s stock worth $619,000 after buying an additional 1,396 shares during the last quarter. Tocqueville Asset Management L.P. raised its stake in shares of ACADIA Pharmaceuticals by 7.2% in the first quarter. Tocqueville Asset Management L.P. now owns 99,950 shares of the biopharmaceutical company’s stock worth $3,436,000 after buying an additional 6,675 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of ACADIA Pharmaceuticals by 7.6% in the first quarter. Wells Fargo & Company MN now owns 135,888 shares of the biopharmaceutical company’s stock worth $4,672,000 after buying an additional 9,608 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of ACADIA Pharmaceuticals by 379.7% in the first quarter. Russell Investments Group Ltd. now owns 24,150 shares of the biopharmaceutical company’s stock worth $831,000 after buying an additional 19,116 shares during the last quarter. 97.34% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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