Short Interest in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Declines By 5.2%

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) saw a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 16,230,000 shares, a decline of 5.2% from the January 15th total of 17,120,000 shares. Based on an average daily trading volume, of 2,380,000 shares, the short-interest ratio is presently 6.8 days.

Analysts Set New Price Targets

A number of research firms have commented on ACAD. HC Wainwright restated a “buy” rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Guggenheim downgraded ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their target price for the company from $23.00 to $20.00 in a research report on Friday, January 3rd. StockNews.com downgraded ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Needham & Company LLC restated a “buy” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft began coverage on ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “hold” rating and a $22.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC grew its stake in ACADIA Pharmaceuticals by 380.3% during the 4th quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company’s stock worth $45,576,000 after purchasing an additional 1,966,607 shares in the last quarter. Barclays PLC grew its stake in ACADIA Pharmaceuticals by 126.2% during the 3rd quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company’s stock worth $4,269,000 after purchasing an additional 154,854 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in ACADIA Pharmaceuticals during the 3rd quarter worth $483,000. Burney Co. acquired a new position in ACADIA Pharmaceuticals during the 4th quarter worth $6,953,000. Finally, BNP Paribas Financial Markets grew its stake in ACADIA Pharmaceuticals by 259.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 223,618 shares of the biopharmaceutical company’s stock worth $3,439,000 after purchasing an additional 161,331 shares in the last quarter. 96.71% of the stock is owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Trading Down 1.5 %

ACAD stock opened at $19.74 on Wednesday. ACADIA Pharmaceuticals has a 12-month low of $14.15 and a 12-month high of $26.56. The company has a market capitalization of $3.28 billion, a PE ratio of 25.31 and a beta of 0.37. The business’s fifty day moving average price is $18.05 and its 200 day moving average price is $16.67.

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.