ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) traded down 6.5% during mid-day trading on Thursday . The company traded as low as $15.90 and last traded at $15.95. 3,357,300 shares traded hands during trading, an increase of 25% from the average session volume of 2,691,098 shares. The stock had previously closed at $17.05.

ACAD has been the subject of several research reports. BidaskClub upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Monday. HC Wainwright reiterated a “buy” rating on shares of ACADIA Pharmaceuticals in a research note on Wednesday, May 16th. Zacks Investment Research cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, May 9th. JPMorgan Chase & Co. set a $50.00 target price on shares of ACADIA Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, April 10th. Finally, ValuEngine cut shares of ACADIA Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, March 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $47.45.

The company has a market cap of $2.04 billion, a price-to-earnings ratio of -6.76 and a beta of 3.39.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Friday, May 4th. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.56) by $0.12. ACADIA Pharmaceuticals had a negative net margin of 161.44% and a negative return on equity of 71.47%. The business had revenue of $48.90 million during the quarter, compared to analysts’ expectations of $47.06 million. During the same quarter last year, the company earned ($0.72) earnings per share. The firm’s revenue was up 219.6% on a year-over-year basis. analysts anticipate that ACADIA Pharmaceuticals Inc. will post -1.71 earnings per share for the current year.

A number of large investors have recently bought and sold shares of ACAD. Schwab Charles Investment Management Inc. raised its position in ACADIA Pharmaceuticals by 6.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 450,709 shares of the biopharmaceutical company’s stock worth $13,571,000 after purchasing an additional 28,104 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in ACADIA Pharmaceuticals by 30.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,403 shares of the biopharmaceutical company’s stock worth $223,000 after purchasing an additional 1,733 shares in the last quarter. Teacher Retirement System of Texas raised its position in ACADIA Pharmaceuticals by 317.0% in the fourth quarter. Teacher Retirement System of Texas now owns 33,642 shares of the biopharmaceutical company’s stock worth $1,013,000 after purchasing an additional 25,575 shares in the last quarter. California Public Employees Retirement System raised its position in ACADIA Pharmaceuticals by 3.7% in the fourth quarter. California Public Employees Retirement System now owns 158,800 shares of the biopharmaceutical company’s stock worth $4,781,000 after purchasing an additional 5,600 shares in the last quarter. Finally, Swiss National Bank raised its position in ACADIA Pharmaceuticals by 2.4% in the fourth quarter. Swiss National Bank now owns 166,804 shares of the biopharmaceutical company’s stock worth $5,022,000 after purchasing an additional 3,900 shares in the last quarter. 97.18% of the stock is owned by hedge funds and other institutional investors.

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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