Short Interest in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Decreases By 5.2%

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report) was the recipient of a large drop in short interest in January. As of January 31st, there was short interest totalling 16,230,000 shares, a drop of 5.2% from the January 15th total of 17,120,000 shares. Based on an average trading volume of 2,380,000 shares, the short-interest ratio is currently 6.8 days.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Guggenheim lowered ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $23.00 to $20.00 in a research report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "hold" rating and a $22.00 price objective for the company. Needham & Company LLC reissued a "buy" rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. HC Wainwright reissued a "buy" rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Finally, StockNews.com lowered ACADIA Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Thursday, November 14th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, ACADIA Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $24.00.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. Values First Advisors Inc. purchased a new position in shares of ACADIA Pharmaceuticals in the 3rd quarter worth approximately $27,000. Virtus Fund Advisers LLC purchased a new position in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $39,000. R Squared Ltd purchased a new position in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $47,000. Quest Partners LLC boosted its stake in shares of ACADIA Pharmaceuticals by 42.3% in the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company's stock worth $54,000 after buying an additional 1,047 shares during the last quarter. Finally, GF Fund Management CO. LTD. purchased a new position in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $64,000. Hedge funds and other institutional investors own 96.71% of the company's stock.

ACADIA Pharmaceuticals Stock Performance

ACAD traded down $0.34 during midday trading on Friday, reaching $19.95. 1,995,035 shares of the company were exchanged, compared to its average volume of 2,910,964. The company's fifty day moving average price is $18.15 and its 200 day moving average price is $16.72. The company has a market cap of $3.32 billion, a price-to-earnings ratio of 25.58 and a beta of 0.37. ACADIA Pharmaceuticals has a one year low of $14.15 and a one year high of $26.56.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization innovative medicines that address unmet medical needs in central nervous system (CNS) disorders and rare diseases in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for treatment of Rett Syndrome.