Bank of America Downgrades ACADIA Pharmaceuticals to Neutral

Brokerage firm Bank of America Downgrades its rating on ACADIA Pharmaceuticals(NASDAQ:ACAD). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Bank of America was issued on Jun 22, 2016.

In a different note, On May 3, 2016, Leerink Swann said it Downgrades its rating on ACADIA Pharmaceuticals. The shares have been rated ‘Market Perform’ by the firm.

ACADIA Pharmaceuticals (ACAD) shares turned negative on Mondays trading session with the shares closing down -1.13 points or -3.60% at a volume of 27,88,978. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $31.625. The peak price level was also seen at $31.625 while the days lowest was $29.45. Finally the shares closed at $30.3. The 52-week high of the shares is $51.99 while the 52-week low is $16.64. According to the latest information available, the market cap of the company is $3,429 M.

ACADIA Pharmaceuticals(ACAD) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $4.00K. Analysts had an estimated revenue of $150.00K. Earnings per share were $-0.45. Analysts had estimated an EPS of $-0.42.

Several Insider Transactions has been reported to the SEC. On Mar 4, 2016, Glenn Baity (EVP AND GC) sold 7,000 shares at $20.80 per share price.Also, 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.

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