ACADIA Pharmaceuticals (NASDAQ:ACAD) Cut to "Neutral" at Guggenheim

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) was downgraded by equities researchers at Guggenheim from a "buy" rating to a "neutral" rating in a research note issued on Friday, MarketBeat reports. They presently have a $20.00 price objective on the biopharmaceutical company's stock, down from their prior price objective of $23.00. Guggenheim's price target would indicate a potential upside of 8.64% from the stock's current price.

Several other equities research analysts also recently issued reports on ACAD. Raymond James reiterated a "market perform" rating on shares of ACADIA Pharmaceuticals in a report on Thursday, October 10th. HC Wainwright reissued a "buy" rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. StockNews.com downgraded shares of ACADIA Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Thursday, November 14th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $25.25.

ACADIA Pharmaceuticals Trading Down 1.3 %

NASDAQ ACAD traded down $0.25 during trading hours on Friday, reaching $18.41. The company had a trading volume of 7,042,699 shares, compared to its average volume of 18,932,898. The stock has a market capitalization of $3.06 billion, a P/E ratio of 23.60 and a beta of 0.40. The stock has a 50-day moving average of $16.73 and a 200 day moving average of $16.37. ACADIA Pharmaceuticals has a 1-year low of $14.15 and a 1-year high of $31.10.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.14 by $0.06. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The firm had revenue of $250.40 million for the quarter, compared to analyst estimates of $248.83 million. During the same period in the prior year, the business posted ($0.40) EPS. The business's revenue for the quarter was up 18.3% compared to the same quarter last year. As a group, sell-side analysts predict that ACADIA Pharmaceuticals will post 0.73 EPS for the current year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, insider James Kihara sold 4,073 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $68,467.13. Following the transaction, the insider now directly owns 19,863 shares in the company, valued at approximately $333,897.03. This trade represents a 17.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark C. Schneyer sold 10,259 shares of the company's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $172,453.79. Following the completion of the sale, the chief financial officer now owns 53,302 shares of the company's stock, valued at approximately $896,006.62. This trade represents a 16.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,661 shares of company stock worth $414,551 over the last 90 days. Corporate insiders own 28.30% of the company's stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Park Place Capital Corp purchased a new stake in ACADIA Pharmaceuticals during the 3rd quarter valued at approximately $25,000. Values First Advisors Inc. acquired a new position in shares of ACADIA Pharmaceuticals in the third quarter valued at approximately $27,000. Quest Partners LLC raised its stake in shares of ACADIA Pharmaceuticals by 42.3% during the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company's stock worth $54,000 after purchasing an additional 1,047 shares during the last quarter. Stonepine Capital Management LLC acquired a new stake in shares of ACADIA Pharmaceuticals during the second quarter worth $81,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in ACADIA Pharmaceuticals by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company's stock valued at $94,000 after buying an additional 1,066 shares during the last quarter. Institutional investors and hedge funds 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.