ACADIA Pharmaceuticals (ACAD) Lowered to Buy at BidaskClub

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ACADIA Pharmaceuticals (NASDAQ:ACAD) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday.

A number of other research firms have also weighed in on ACAD. Canaccord Genuity initiated coverage on ACADIA Pharmaceuticals in a research note on Monday, December 10th. They issued a “hold” rating and a $23.00 target price on the stock. Zacks Investment Research downgraded ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, January 31st. Cantor Fitzgerald raised their price objective on ACADIA Pharmaceuticals from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Monday, October 15th. JPMorgan Chase & Co. reissued a “buy” rating on shares of ACADIA Pharmaceuticals in a report on Saturday, November 3rd. Finally, UBS Group began coverage on ACADIA Pharmaceuticals in a research note on Friday, November 16th. They issued a “neutral” rating and a $39.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. ACADIA Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $31.09.

NASDAQ:ACAD opened at $22.31 on Tuesday. ACADIA Pharmaceuticals has a fifty-two week low of $12.77 and a fifty-two week high of $32.53. The firm has a market cap of $2.80 billion, a P/E ratio of -9.45 and a beta of 3.32.

In related news, Director Bros. Advisors Lp Baker acquired 11,764,705 shares of the firm’s stock in a transaction on Friday, November 30th. The stock was bought at an average cost of $17.00 per share, with a total value of $199,999,985.00. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Laura Brege sold 10,000 shares of the stock in a transaction that occurred on Wednesday, January 9th. The stock was sold at an average price of $20.00, for a total value of $200,000.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $200,000. The disclosure for this sale can be found here. Corporate insiders own 23.28% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACAD. Kalos Management Inc. increased its position in ACADIA Pharmaceuticals by 4.2% during the fourth quarter. Kalos Management Inc. now owns 20,050 shares of the biopharmaceutical company’s stock worth $420,000 after buying an additional 800 shares in the last quarter. Prudential Financial Inc. boosted its holdings in ACADIA Pharmaceuticals by 8.3% in the fourth quarter. Prudential Financial Inc. now owns 12,449 shares of the biopharmaceutical company’s stock valued at $201,000 after acquiring an additional 949 shares during the last quarter. NEXT Financial Group Inc boosted its holdings in ACADIA Pharmaceuticals by 13.4% in the fourth quarter. NEXT Financial Group Inc now owns 9,637 shares of the biopharmaceutical company’s stock valued at $156,000 after acquiring an additional 1,137 shares during the last quarter. SG Americas Securities LLC boosted its holdings in ACADIA Pharmaceuticals by 12.5% in the fourth quarter. SG Americas Securities LLC now owns 15,721 shares of the biopharmaceutical company’s stock valued at $254,000 after acquiring an additional 1,750 shares during the last quarter. Finally, Stonebridge Capital Management Inc. boosted its holdings in ACADIA Pharmaceuticals by 14.3% in the fourth quarter. Stonebridge Capital Management Inc. now owns 14,205 shares of the biopharmaceutical company’s stock valued at $230,000 after acquiring an additional 1,775 shares during the last quarter. 95.20% of the stock is owned by hedge funds and other institutional investors.

ACADIA Pharmaceuticals Company Profile

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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Analyst Recommendations for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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