ACADIA Pharmaceuticals (NASDAQ:ACAD) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) from a buy rating to a hold rating in a report published on Monday morning, Zacks.com reports.

According to Zacks, “Acadia Pharmaceuticals is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule drugs for the treatment of central nervous system disorders. Their three clinical programs are ACP-103 for treatment-induced dysfunction in Parkinson’s disease, and ACP-104 and ACP-103, both for the treatment of schizophrenia. “

Other equities research analysts also recently issued reports about the company. Needham & Company LLC reiterated a buy rating and issued a $40.00 price objective on shares of ACADIA Pharmaceuticals in a report on Monday, July 1st. Raymond James reiterated a buy rating on shares of Kelt Exploration in a report on Friday, May 31st. ValuEngine downgraded Zosano Pharma from a buy rating to a hold rating in a report on Wednesday, May 1st. HC Wainwright reiterated a buy rating on shares of Ballard Power Systems in a report on Friday, May 3rd. Finally, Cantor Fitzgerald reiterated a buy rating and issued a $37.00 price objective on shares of Vocera Communications in a report on Thursday, April 25th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $32.31.

Shares of NASDAQ:ACAD traded down $0.05 on Monday, hitting $27.25. 927,295 shares of the company traded hands, compared to its average volume of 1,297,478. ACADIA Pharmaceuticals has a 52 week low of $12.77 and a 52 week high of $28.67. The company has a current ratio of 6.35, a quick ratio of 6.29 and a debt-to-equity ratio of 0.02. The business has a 50 day moving average price of $25.84. The company has a market capitalization of $3.93 billion, a P/E ratio of -14.05 and a beta of 2.88.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.05). ACADIA Pharmaceuticals had a negative net margin of 116.10% and a negative return on equity of 79.74%. The company had revenue of $62.90 million for the quarter, compared to the consensus estimate of $60.93 million. During the same quarter in the previous year, the business earned ($0.44) earnings per share. ACADIA Pharmaceuticals’s revenue was up 28.6% compared to the same quarter last year. On average, equities analysts anticipate that ACADIA Pharmaceuticals will post -1.9 EPS for the current year.

A number of large investors have recently made changes to their positions in ACAD. FMR LLC boosted its position in ACADIA Pharmaceuticals by 14.9% in the fourth quarter. FMR LLC now owns 21,543,893 shares of the biopharmaceutical company’s stock worth $348,364,000 after purchasing an additional 2,792,885 shares during the last quarter. Great Point Partners LLC lifted its holdings in ACADIA Pharmaceuticals by 130.1% in the 4th quarter. Great Point Partners LLC now owns 2,752,256 shares of the biopharmaceutical company’s stock worth $44,504,000 after purchasing an additional 1,556,158 shares in the last quarter. Norges Bank purchased a new position in ACADIA Pharmaceuticals in the 4th quarter worth approximately $15,717,000. Artisan Partners Limited Partnership lifted its holdings in ACADIA Pharmaceuticals by 348.2% in the 1st quarter. Artisan Partners Limited Partnership now owns 1,131,829 shares of the biopharmaceutical company’s stock worth $30,390,000 after purchasing an additional 879,311 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in ACADIA Pharmaceuticals by 16.4% in the 1st quarter. First Trust Advisors LP now owns 4,815,776 shares of the biopharmaceutical company’s stock worth $129,304,000 after purchasing an additional 677,051 shares in the last quarter. 93.35% of the stock is currently owned by institutional investors and hedge funds.

About ACADIA Pharmaceuticals

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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