ACADIA Pharmaceuticals (NASDAQ:ACAD) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) from a buy rating to a hold rating in a research note published on Friday morning.

A number of other research firms have also commented on ACAD. HC Wainwright reiterated a “buy” rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday. Cantor Fitzgerald restated an “overweight” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday. Needham & Company LLC restated a “buy” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday. Deutsche Bank Aktiengesellschaft began coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They set a “hold” rating and a $22.00 target price for the company. Finally, Guggenheim cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $23.00 to $20.00 in a report on Friday, January 3rd. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

ACADIA Pharmaceuticals Price Performance

NASDAQ ACAD opened at $19.60 on Friday. ACADIA Pharmaceuticals has a 12 month low of $14.15 and a 12 month high of $24.53. The firm has a market capitalization of $3.26 billion, a PE ratio of 25.13 and a beta of 0.37. The company’s 50 day simple moving average is $18.37 and its 200 day simple moving average is $16.81.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtus Fund Advisers LLC acquired a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter valued at $39,000. R Squared Ltd acquired a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter valued at $47,000. GF Fund Management CO. LTD. acquired a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter valued at $64,000. Quest Partners LLC boosted its stake in shares of ACADIA Pharmaceuticals by 42.3% during the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock valued at $54,000 after buying an additional 1,047 shares during the period. Finally, KBC Group NV boosted its stake in shares of ACADIA Pharmaceuticals by 67.0% during the 4th quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock valued at $93,000 after buying an additional 2,044 shares during the period. 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.