ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)’s stock price dropped 5.3% during trading on Friday . The stock traded as low as $24.25 and last traded at $24.26. Approximately 931,743 shares traded hands during trading, a decline of 30% from the average daily volume of 1,332,449 shares. The stock had previously closed at $25.63.

ACAD has been the topic of several analyst reports. HC Wainwright reiterated a “buy” rating on shares of ACADIA Pharmaceuticals in a report on Friday, May 3rd. ValuEngine downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Raymond James upped their price target on shares of ACADIA Pharmaceuticals from $40.00 to $43.00 and gave the company a “strong-buy” rating in a report on Friday, May 31st. BidaskClub downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $30.00 target price on shares of ACADIA Pharmaceuticals in a research note on Wednesday, February 27th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. ACADIA Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $31.25.

The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.29 and a current ratio of 6.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.59) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.54) by ($0.05). The company had revenue of $62.90 million during the quarter, compared to the consensus estimate of $60.93 million. ACADIA Pharmaceuticals had a negative return on equity of 79.74% and a negative net margin of 116.10%. ACADIA Pharmaceuticals’s revenue was up 28.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.44) earnings per share. On average, sell-side analysts predict that ACADIA Pharmaceuticals Inc. will post -1.9 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of ACADIA Pharmaceuticals by 5.4% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,807 shares of the biopharmaceutical company’s stock worth $372,000 after purchasing an additional 708 shares during the period. Kalos Management Inc. lifted its position in shares of ACADIA Pharmaceuticals by 4.2% in the 4th quarter. Kalos Management Inc. now owns 20,050 shares of the biopharmaceutical company’s stock worth $420,000 after purchasing an additional 800 shares during the period. Prudential Financial Inc. lifted its position in shares of ACADIA Pharmaceuticals by 8.3% in the 4th quarter. Prudential Financial Inc. now owns 12,449 shares of the biopharmaceutical company’s stock worth $201,000 after purchasing an additional 949 shares during the period. Valeo Financial Advisors LLC purchased a new stake in shares of ACADIA Pharmaceuticals in the 1st quarter worth approximately $27,000. Finally, Clearbridge Investments LLC purchased a new stake in shares of ACADIA Pharmaceuticals in the 1st quarter worth approximately $27,000. Institutional investors and hedge funds own 93.35% of the company’s stock.

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ACADIA Pharmaceuticals Company Profile (NASDAQ:ACAD)

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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