ACADIA Pharmaceuticals (ACAD) is Downgraded by BofA/Merrill to Neutral

ACADIA Pharmaceuticals (ACAD) was Downgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. BofA/Merrill advised their investors in a research report released on Jun 22, 2016.

Many Wall Street Analysts have commented on ACADIA Pharmaceuticals. ACADIA Pharmaceuticals was Downgraded by Leerink Partners to ” Mkt Perform” on May 3, 2016. 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 .

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 May 5, 2016. Analyst had a consensus of $-0.42.Analysts expectations of $ .22.During the same quarter in the previous year, the company posted $-0.40 EPS.

ACADIA Pharmaceuticals closed down -0.01 points or -0.03% at $37.4 with 18,98,173 shares getting traded on Monday. Post opening the session at $38.28, the shares hit an intraday low of $37.26 and an intraday high of $38.402 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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