ACADIA Pharmaceuticals’ (ACAD) Hold Rating Reiterated at Canaccord Genuity

Canaccord Genuity restated their hold rating on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a research report report published on Tuesday, AnalystRatings.com reports. The firm currently has a $29.00 price target on the biopharmaceutical company’s stock.

ACAD has been the topic of a number of other reports. ValuEngine cut shares of ACADIA Pharmaceuticals from a buy rating to a hold rating in a report on Thursday, July 2nd. Needham & Company LLC assumed coverage on shares of ACADIA Pharmaceuticals in a research report on Thursday, July 16th. They issued a buy rating and a $60.00 price objective for the company. Oppenheimer decreased their price objective on shares of ACADIA Pharmaceuticals from $53.00 to $42.00 and set a market perform rating for the company in a research report on Tuesday, July 21st. Cantor Fitzgerald decreased their price objective on shares of ACADIA Pharmaceuticals from $63.00 to $61.00 and set an overweight rating for the company in a research report on Tuesday, July 21st. Finally, Goldman Sachs Group raised shares of ACADIA Pharmaceuticals from a neutral rating to a buy rating and increased their price objective for the company from $45.00 to $72.00 in a research report on Tuesday, March 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. ACADIA Pharmaceuticals currently has a consensus rating of Buy and a consensus target price of $57.38.

Shares of ACADIA Pharmaceuticals stock opened at $41.57 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.26 and a quick ratio of 7.20. ACADIA Pharmaceuticals has a 1 year low of $23.77 and a 1 year high of $58.72. The firm’s 50-day moving average is $49.72 and its two-hundred day moving average is $45.60. The stock has a market cap of $6.48 billion, a price-to-earnings ratio of -26.31 and a beta of 1.80.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.57) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by ($0.09). ACADIA Pharmaceuticals had a negative return on equity of 39.40% and a negative net margin of 64.99%. The business had revenue of $90.07 million for the quarter, compared to the consensus estimate of $90.76 million. During the same quarter in the previous year, the company earned ($0.59) earnings per share. The firm’s revenue was up 43.1% on a year-over-year basis. On average, equities analysts expect that ACADIA Pharmaceuticals will post -1.89 earnings per share for the current year.

In other news, Director James M. Daly sold 26,250 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $51.13, for a total transaction of $1,342,162.50. Following the completion of the transaction, the director now directly owns 11,250 shares of the company’s stock, valued at approximately $575,212.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Michael J. Yang sold 27,250 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $56.25, for a total transaction of $1,532,812.50. Following the transaction, the executive vice president now directly owns 12,704 shares of the company’s stock, valued at $714,600. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 247,253 shares of company stock valued at $12,158,272. Insiders own 27.70% of the company’s stock.

Several large investors have recently bought and sold shares of ACAD. Geode Capital Management LLC raised its position in ACADIA Pharmaceuticals by 6.6% in the first quarter. Geode Capital Management LLC now owns 1,728,070 shares of the biopharmaceutical company’s stock worth $73,010,000 after acquiring an additional 107,011 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in ACADIA Pharmaceuticals by 107.3% in the first quarter. BNP Paribas Arbitrage SA now owns 74,036 shares of the biopharmaceutical company’s stock valued at $3,128,000 after purchasing an additional 38,320 shares during the last quarter. Parametric Portfolio Associates LLC grew its holdings in ACADIA Pharmaceuticals by 18.5% in the first quarter. Parametric Portfolio Associates LLC now owns 174,770 shares of the biopharmaceutical company’s stock valued at $7,384,000 after purchasing an additional 27,342 shares during the last quarter. Wells Fargo & Company MN grew its holdings in ACADIA Pharmaceuticals by 9.3% in the first quarter. Wells Fargo & Company MN now owns 230,061 shares of the biopharmaceutical company’s stock valued at $9,720,000 after purchasing an additional 19,666 shares during the last quarter. Finally, Swiss National Bank grew its holdings in ACADIA Pharmaceuticals by 8.0% in the first quarter. Swiss National Bank now owns 224,004 shares of the biopharmaceutical company’s stock valued at $9,464,000 after purchasing an additional 16,500 shares during the last quarter. 97.98% of the stock is 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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