ACADIA Pharmaceuticals (NASDAQ:ACAD) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) from a buy rating to a hold rating in a research report released on Saturday morning.

A number of other brokerages have also recently issued reports on ACAD. Citigroup lifted their price objective on ACADIA Pharmaceuticals from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. JPMorgan Chase & Co. reduced their target price on shares of ACADIA Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a report on Monday, November 17th. HC Wainwright upped their target price on shares of ACADIA Pharmaceuticals from $32.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. Needham & Company LLC restated a “buy” rating and issued a $34.00 price target on shares of ACADIA Pharmaceuticals in a report on Monday, January 5th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ACADIA Pharmaceuticals in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.16.

ACADIA Pharmaceuticals Trading Up 4.0%

ACAD opened at $26.13 on Friday. The company has a 50 day moving average of $26.53 and a 200 day moving average of $24.44. ACADIA Pharmaceuticals has a 12 month low of $13.40 and a 12 month high of $28.35. The company has a market cap of $4.42 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 6.08 and a beta of 0.66.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.28. The firm had revenue of $278.63 million during the quarter, compared to analyst estimates of $276.52 million. ACADIA Pharmaceuticals had a net margin of 24.94% and a return on equity of 14.61%. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.20 EPS. Research analysts forecast that ACADIA Pharmaceuticals will post 0.7 earnings per share for the current fiscal year.

Insider Activity at ACADIA Pharmaceuticals

In other news, Director James M. Daly sold 30,000 shares of the stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $22.37, for a total transaction of $671,100.00. Following the completion of the sale, the director owned 4,041 shares in the company, valued at approximately $90,397.17. This represents a 88.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James Kihara sold 4,084 shares of the firm’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $23.69, for a total transaction of $96,749.96. Following the completion of the sale, the insider owned 25,058 shares of the company’s stock, valued at $593,624.02. This trade represents a 14.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 44,346 shares of company stock worth $1,010,957. Company insiders own 28.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ACAD. Farther Finance Advisors LLC increased its position in ACADIA Pharmaceuticals by 67.5% in the 4th quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 386 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of ACADIA Pharmaceuticals by 113.0% during the third quarter. Geneos Wealth Management Inc. now owns 1,425 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 756 shares in the last quarter. Smartleaf Asset Management LLC grew its position in ACADIA Pharmaceuticals by 107.0% during the third quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 885 shares in the last quarter. USA Financial Formulas acquired a new stake in ACADIA Pharmaceuticals during the third quarter valued at $41,000. Finally, GAMMA Investing LLC increased its holdings in ACADIA Pharmaceuticals by 25.8% in the third quarter. GAMMA Investing LLC now owns 3,361 shares of the biopharmaceutical company’s stock worth $72,000 after buying an additional 690 shares during the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.