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StockNews.com Lowers ACADIA Pharmaceuticals (NASDAQ:ACAD) to Hold

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ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Tuesday.

Several other equities research analysts also recently commented on the company. Jefferies Financial Group downgraded ACADIA Pharmaceuticals from a "buy" rating to an "underperform" rating and dropped their target price for the stock from $25.00 to $10.00 in a report on Tuesday, June 21st. Canaccord Genuity Group dropped their target price on ACADIA Pharmaceuticals from $31.00 to $20.00 in a report on Wednesday, June 22nd. Cantor Fitzgerald lowered their price target on ACADIA Pharmaceuticals from $37.00 to $26.00 and set an "overweight" rating on the stock in a report on Tuesday, June 21st. Cowen lowered their price target on ACADIA Pharmaceuticals from $32.00 to $21.00 and set an "outperform" rating on the stock in a report on Monday, August 8th. Finally, The Goldman Sachs Group lowered their price target on ACADIA Pharmaceuticals from $20.00 to $15.00 and set a "neutral" rating on the stock in a report on Tuesday, August 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $22.72.

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ACADIA Pharmaceuticals Stock Up 3.0 %

Shares of ACAD stock opened at $17.91 on Tuesday. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of -14.10 and a beta of 0.67. The business's fifty day moving average is $15.98 and its 200 day moving average is $18.76. ACADIA Pharmaceuticals has a twelve month low of $12.24 and a twelve month high of $28.06.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) last released its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.04. ACADIA Pharmaceuticals had a negative return on equity of 41.18% and a negative net margin of 39.93%. The business had revenue of $134.56 million for the quarter, compared to the consensus estimate of $130.06 million. During the same period in the previous year, the company posted ($0.27) earnings per share. The company's revenue for the quarter was up 16.8% compared to the same quarter last year. Equities research analysts expect that ACADIA Pharmaceuticals will post -1.3 earnings per share for the current fiscal year.

Institutional Trading of ACADIA Pharmaceuticals

Several institutional investors have recently made changes to their positions in the business. Lazard Asset Management LLC grew its position in shares of ACADIA Pharmaceuticals by 19.4% during the fourth quarter. Lazard Asset Management LLC now owns 3,115 shares of the biopharmaceutical company's stock worth $72,000 after purchasing an additional 506 shares in the last quarter. Principal Financial Group Inc. grew its holdings in ACADIA Pharmaceuticals by 2.2% during the 1st quarter. Principal Financial Group Inc. now owns 40,349 shares of the biopharmaceutical company's stock valued at $977,000 after buying an additional 884 shares in the last quarter. Personal CFO Solutions LLC grew its holdings in ACADIA Pharmaceuticals by 6.7% during the 1st quarter. Personal CFO Solutions LLC now owns 15,846 shares of the biopharmaceutical company's stock valued at $384,000 after buying an additional 1,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in ACADIA Pharmaceuticals by 8.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,927 shares of the biopharmaceutical company's stock valued at $434,000 after buying an additional 1,334 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in ACADIA Pharmaceuticals by 8.5% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 18,837 shares of the biopharmaceutical company's stock valued at $456,000 after buying an additional 1,478 shares in the last quarter. Hedge funds and other institutional investors own 92.48% of the company's stock.

ACADIA Pharmaceuticals Company Profile

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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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