Short Interest in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Increases By 16.5%

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) saw a significant growth in short interest in October. As of October 31st, there was short interest totalling 9,530,000 shares, a growth of 16.5% from the October 15th total of 8,180,000 shares. Based on an average daily volume of 1,360,000 shares, the days-to-cover ratio is currently 7.0 days.

Institutional Trading of ACADIA Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Park Place Capital Corp bought a new position in ACADIA Pharmaceuticals in the third quarter valued at approximately $25,000. Values First Advisors Inc. bought a new position in shares of ACADIA Pharmaceuticals in the third quarter valued at $27,000. Covestor Ltd grew its stake in shares of ACADIA Pharmaceuticals by 70.5% in the first quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 840 shares in the last quarter. Headlands Technologies LLC acquired a new position in ACADIA Pharmaceuticals during the first quarter worth $48,000. Finally, Quest Partners LLC raised its position in 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 acquiring an additional 1,047 shares in the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Stock Down 1.5 %

ACADIA Pharmaceuticals stock opened at $16.77 on Monday. ACADIA Pharmaceuticals has a twelve month low of $14.15 and a twelve month high of $32.59. The company has a 50 day moving average of $15.56 and a 200-day moving average of $15.99. The stock has a market capitalization of $2.79 billion, a PE ratio of 21.50 and a beta of 0.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.06. The firm had revenue of $250.40 million for the quarter, compared to the consensus estimate of $248.83 million. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.40) EPS. Equities analysts anticipate that ACADIA Pharmaceuticals will post 0.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Morgan Stanley cut ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $28.00 to $20.00 in a research report on Wednesday, August 7th. Raymond James reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, October 10th. Cantor Fitzgerald dropped their price objective on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. StockNews.com lowered ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Finally, Royal Bank of Canada cut their price objective on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.56.

ACADIA Pharmaceuticals Company Profile

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.