ACADIA Pharmaceuticals (ACAD) Rating Increased to Hold at BidaskClub

ACADIA Pharmaceuticals (NASDAQ:ACAD) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

A number of other equities analysts also recently issued reports on the company. Jefferies Group reiterated a “buy” rating and issued a $47.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, October 12th. JPMorgan Chase & Co. set a $50.00 price objective on ACADIA Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, October 5th. Leerink Swann reiterated a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Monday, October 9th. Zacks Investment Research downgraded ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, October 16th. Finally, JMP Securities increased their price objective on ACADIA Pharmaceuticals from $47.00 to $50.00 and gave the stock an “outperform” rating in a report on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. ACADIA Pharmaceuticals currently has an average rating of “Buy” and an average price target of $48.86.

ACADIA Pharmaceuticals (NASDAQ:ACAD) opened at $31.18 on Wednesday. The company has a market capitalization of $3,820.00, a P/E ratio of -12.67 and a beta of 3.80. ACADIA Pharmaceuticals has a twelve month low of $25.06 and a twelve month high of $41.20.

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

In other news, EVP Glenn Baity sold 37,500 shares of the stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $40.91, for a total value of $1,534,125.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 22.25% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. San Francisco Sentry Investment Group CA purchased a new stake in shares of ACADIA Pharmaceuticals in the second quarter worth $125,000. Oppenheimer Asset Management Inc. boosted its position in shares of ACADIA Pharmaceuticals by 10.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 5,133 shares of the biopharmaceutical company’s stock valued at $143,000 after buying an additional 468 shares during the last quarter. Turner Investments LLC purchased a new stake in shares of ACADIA Pharmaceuticals during the third quarter valued at $188,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of ACADIA Pharmaceuticals by 43.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,670 shares of the biopharmaceutical company’s stock valued at $214,000 after buying an additional 1,710 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in shares of ACADIA Pharmaceuticals by 56.8% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,509 shares of the biopharmaceutical company’s stock valued at $247,000 after buying an additional 2,358 shares during the last quarter. 94.02% of the stock is currently owned by hedge funds and other institutional investors.

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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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