Zacks Investment Research Upgrades ACADIA Pharmaceuticals Inc. (ACAD) to Hold

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday, May 12th.

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 brokerages have also commented on ACAD. Vetr raised ACADIA Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $41.20 price objective for the company in a report on Monday, February 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $49.00 target price on shares of ACADIA Pharmaceuticals in a report on Wednesday, April 5th. HC Wainwright reaffirmed a “buy” rating on shares of ACADIA Pharmaceuticals in a report on Wednesday, May 10th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $44.00 target price on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 7th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $47.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Wednesday, April 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. ACADIA Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $42.88.

Analyst Recommendations for ACADIA Pharmaceuticals (NASDAQ:ACAD)

ACADIA Pharmaceuticals (NASDAQ ACAD) traded up 3.12% during trading on Friday, reaching $27.10. The company’s stock had a trading volume of 2,018,217 shares. The firm’s market cap is $3.31 billion. ACADIA Pharmaceuticals has a 52 week low of $20.68 and a 52 week high of $40.83. The stock’s 50 day moving average is $28.46 and its 200-day moving average is $31.94.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.72) EPS for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.01. ACADIA Pharmaceuticals had a negative return on equity of 63.07% and a negative net margin of 948.93%. The business had revenue of $15.30 million during the quarter, compared to analyst estimates of $15.17 million. During the same period in the previous year, the company posted ($0.45) EPS. On average, equities research analysts forecast that ACADIA Pharmaceuticals will post ($2.83) earnings per share for the current fiscal year.

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Hedge funds have recently bought and sold shares of the company. Tocqueville Asset Management L.P. raised its stake in ACADIA Pharmaceuticals by 11.3% in the third quarter. Tocqueville Asset Management L.P. now owns 125,125 shares of the biopharmaceutical company’s stock worth $3,980,000 after buying an additional 12,725 shares in the last quarter. Spot Trading L.L.C purchased a new stake in ACADIA Pharmaceuticals during the third quarter worth $245,000. Gilder Gagnon Howe & Co. LLC raised its stake in ACADIA Pharmaceuticals by 21.3% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 5,629 shares of the biopharmaceutical company’s stock worth $179,000 after buying an additional 990 shares in the last quarter. LMR Partners LLP raised its stake in ACADIA Pharmaceuticals by 18.2% in the third quarter. LMR Partners LLP now owns 50,000 shares of the biopharmaceutical company’s stock worth $1,591,000 after buying an additional 7,688 shares in the last quarter. Finally, BlackRock Advisors LLC raised its stake in shares of ACADIA Pharmaceuticals by 2.7% in the third quarter. BlackRock Advisors LLC now owns 51,246 shares of the biopharmaceutical company’s stock valued at $1,630,000 after buying an additional 1,366 shares during the period. Institutional investors own 97.43% of the company’s stock.

About ACADIA Pharmaceuticals

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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