ACADIA Pharmaceuticals (NASDAQ:ACAD) Downgraded by Wall Street Zen to Hold

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

Several other equities analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft set a $29.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, September 25th. Weiss Ratings reiterated a “hold (c+)” rating on shares of ACADIA Pharmaceuticals in a report on Monday, December 29th. Cowen reissued a “buy” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, September 11th. Piper Sandler set a $37.00 target price on shares of ACADIA Pharmaceuticals in a report on Tuesday, December 16th. Finally, Mizuho raised their price target on shares of ACADIA Pharmaceuticals from $24.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.47.

ACADIA Pharmaceuticals Trading Down 1.6%

Shares of ACAD stock opened at $26.29 on Friday. The firm has a fifty day moving average price of $25.08 and a 200 day moving average price of $23.76. 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 $4.45 billion, a P/E ratio of 16.96, a PEG ratio of 7.10 and a beta of 0.68.

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

Insider Activity

In other news, EVP Mark C. Schneyer sold 10,262 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $23.69, for a total value of $243,106.78. Following the completion of the sale, the executive vice president directly owned 53,338 shares in the company, valued at approximately $1,263,577.22. The trade was a 16.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider James Kihara sold 4,084 shares of ACADIA Pharmaceuticals 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 transaction, the insider owned 25,058 shares in the company, valued at approximately $593,624.02. The trade was a 14.01% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 44,346 shares of company stock worth $1,010,957. 26.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in ACAD. Maryland State Retirement & Pension System raised its holdings in ACADIA Pharmaceuticals by 1.3% in the second quarter. Maryland State Retirement & Pension System now owns 36,397 shares of the biopharmaceutical company’s stock worth $785,000 after purchasing an additional 476 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of ACADIA Pharmaceuticals by 11.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,323 shares of the biopharmaceutical company’s stock worth $114,000 after buying an additional 534 shares during the period. Vise Technologies Inc. increased its stake in shares of ACADIA Pharmaceuticals by 4.0% in the 3rd quarter. Vise Technologies Inc. now owns 15,367 shares of the biopharmaceutical company’s stock worth $328,000 after acquiring an additional 585 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in ACADIA Pharmaceuticals by 0.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 91,067 shares of the biopharmaceutical company’s stock valued at $1,964,000 after acquiring an additional 626 shares during the period. Finally, GAMMA Investing LLC boosted its stake in ACADIA Pharmaceuticals by 25.8% during the third quarter. GAMMA Investing LLC now owns 3,361 shares of the biopharmaceutical company’s stock worth $72,000 after acquiring an additional 690 shares in the last quarter. 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.