ACADIA Pharmaceuticals (ACAD) is Downgraded by Leerink Partners to Mkt Perform

ACADIA Pharmaceuticals (ACAD) was Downgraded by Leerink Partners to ” Mkt Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Leerink Partners advised their investors in a research report released on May 3, 2016.

Many Wall Street Analysts have commented on ACADIA Pharmaceuticals. Company shares were Reiterated by Piper Jaffray on Mar 30, 2016 to “Overweight”, Firm has raised the Price Target to $ 44 from a previous price target of $39 .BofA/Merrill Initiated ACADIA Pharmaceuticals on Feb 8, 2016 to “Buy”, Price Target of the shares are set at $40.

On the company’s financial health, ACADIA Pharmaceuticals reported $-0.45 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Feb 29, 2016. Analyst had a consensus of $-0.42. The company had revenue of $.02 million for the quarter.The company’s revenue was down -63.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.28 EPS.

ACADIA Pharmaceuticals opened for trading at $34.16 and hit $34.25 on the upside on Monday, eventually ending the session at $33, with a gain of 2.17% or 0.7 points. The heightened volatility saw the trading volume jump to 81,15,438 shares. Company has a market cap of $3,717 M.

In a different news, on Mar 4, 2016, Glenn Baity (EVP AND GC) sold 7,000 shares at $20.80 per share price. According to the SEC, on Feb 19, 2015, Uli Hacksell (CEO) sold 30,000 shares at $34.30 per share price.

ACADIA Pharmaceuticals Inc. is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for the treatment of neurological and related central nervous system disorders. The Company’s drug candidate NUPLAZID (pimavanserin) is under development for the treatment of Parkinson’s disease psychosis Alzheimer’s disease psychosis Schizophrenia and Sleep disturbances. The Company is also conducting preclinical programs for alpha adrenergic agonists indicated for the treatment of chronic pain and muscarinic drugs for the treatment of glaucoma. NUPLAZID has an active ingredient pimavanserin is a selective serotonin inverse agonist (SSIA) preferentially targeting 5-HT2A receptors that was discovered by the Company. The Company in collaboration with Allergan has discovered and engaged in the development of small-molecule product candidates such as alpha adrenergic agonists and muscarinic receptors.

ACADIA Pharmaceuticals

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