ACADIA Pharmaceuticals (NASDAQ:ACAD) Cut to "Hold" at StockNews.com

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a research report issued on Friday.

Several other equities analysts have also recently weighed in on the company. Guggenheim cut ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and cut their price target for the company from $23.00 to $20.00 in a report on Friday, January 3rd. Needham & Company LLC reissued a "buy" rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Cantor Fitzgerald restated an "overweight" rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. HC Wainwright reiterated a "buy" rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They issued a "hold" rating and a $22.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $24.00.

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ACADIA Pharmaceuticals Price Performance

Shares of ACADIA Pharmaceuticals stock traded up $0.10 during trading on Friday, reaching $18.26. 1,585,711 shares of the stock traded hands, compared to its average volume of 2,731,195. ACADIA Pharmaceuticals has a 52-week low of $14.15 and a 52-week high of $24.27. The business has a fifty day simple moving average of $18.44 and a two-hundred day simple moving average of $16.88. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 23.41 and a beta of 0.37.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. purchased a new position in ACADIA Pharmaceuticals during the 4th quarter valued at $40,935,000. SG Americas Securities LLC lifted its position in shares of ACADIA Pharmaceuticals by 380.3% during the fourth quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company's stock worth $45,576,000 after purchasing an additional 1,966,607 shares during the last quarter. Norges Bank purchased a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter valued at $25,555,000. Renaissance Technologies LLC boosted its stake in shares of ACADIA Pharmaceuticals by 204.2% during the fourth quarter. Renaissance Technologies LLC now owns 1,226,533 shares of the biopharmaceutical company's stock valued at $22,507,000 after purchasing an additional 823,333 shares during the period. Finally, Two Sigma Advisers LP grew its holdings in shares of ACADIA Pharmaceuticals by 160.8% in the fourth quarter. Two Sigma Advisers LP now owns 1,263,200 shares of the biopharmaceutical company's stock worth $23,180,000 after purchasing an additional 778,900 shares during the last quarter. Institutional investors own 96.71% of the company's stock.

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.