Zacks Investment Research upgraded shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) from a sell rating to a hold rating in a research report released on Friday.

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. “

ACAD has been the subject of a number of other reports. Leerink Swann reissued a market perform rating and set a $29.00 target price on shares of ACADIA Pharmaceuticals in a research note on Wednesday, December 28th. Vetr lowered shares of ACADIA Pharmaceuticals from a strong-buy rating to a buy rating and set a $37.64 target price for the company. in a research note on Tuesday, January 31st. JPMorgan Chase & Co. reissued an overweight rating and set a $49.00 target price on shares of ACADIA Pharmaceuticals in a research note on Wednesday, December 21st. Needham & Company LLC reissued a buy rating and set a $49.00 target price on shares of ACADIA Pharmaceuticals in a research note on Friday, December 23rd. Finally, HC Wainwright reissued a buy rating and set a $60.00 target price on shares of ACADIA Pharmaceuticals in a research note on Friday, December 23rd. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. ACADIA Pharmaceuticals presently has a consensus rating of Buy and a consensus price target of $41.25.

ACADIA Pharmaceuticals (NASDAQ:ACAD) traded down 1.47% during mid-day trading on Friday, reaching $36.95. 2,437,985 shares of the company’s stock were exchanged. The company’s 50-day moving average is $37.28 and its 200 day moving average is $30.94. The firm’s market capitalization is $4.49 billion. ACADIA Pharmaceuticals has a one year low of $18.99 and a one year high of $42.49.

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In related news, EVP Glenn Baity sold 9,800 shares of the company’s stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $30.46, for a total value of $298,508.00. Following the completion of the sale, the executive vice president now directly owns 81,363 shares of the company’s stock, valued at $2,478,316.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Terrence O. Moore sold 157,540 shares of the company’s stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $39.77, for a total transaction of $6,265,365.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 177,340 shares of company stock valued at $6,863,874. 21.65% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Putnam Investments LLC raised its stake in ACADIA Pharmaceuticals by 1.7% in the fourth quarter. Putnam Investments LLC now owns 16,647 shares of the biopharmaceutical company’s stock worth $480,000 after buying an additional 286 shares during the period. Knott David M raised its stake in ACADIA Pharmaceuticals by 0.8% in the fourth quarter. Knott David M now owns 65,947 shares of the biopharmaceutical company’s stock worth $1,902,000 after buying an additional 550 shares during the period. SG Americas Securities LLC raised its stake in ACADIA Pharmaceuticals by 4.6% in the third quarter. SG Americas Securities LLC now owns 13,077 shares of the biopharmaceutical company’s stock worth $416,000 after buying an additional 575 shares during the period. Aperio Group LLC raised its stake in ACADIA Pharmaceuticals by 4.3% in the third quarter. Aperio Group LLC now owns 18,557 shares of the biopharmaceutical company’s stock worth $590,000 after buying an additional 760 shares during the period. Finally, IFP Advisors Inc raised its stake in ACADIA Pharmaceuticals by 17.9% in the second quarter. IFP Advisors Inc now owns 6,447 shares of the biopharmaceutical company’s stock worth $209,000 after buying an additional 979 shares during the period. 98.25% of the stock is owned by institutional investors.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system disorders. The Company’s lead drug candidate, NUPLAZID (pimavanserin), is under development for the treatment of Parkinson’s disease psychosis (PDP).

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