ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Short Interest Update

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

ACADIA Pharmaceuticals Stock Performance

NASDAQ:ACAD opened at $19.67 on Thursday. The company’s 50-day simple moving average is $18.08 and its 200-day simple moving average is $16.70. The stock has a market capitalization of $3.27 billion, a P/E ratio of 25.22 and a beta of 0.37. ACADIA Pharmaceuticals has a fifty-two week low of $14.15 and a fifty-two week high of $26.56.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of institutional investors have recently bought and sold shares of ACAD. Values First Advisors Inc. purchased a new position in shares of ACADIA Pharmaceuticals during the 3rd quarter valued at approximately $27,000. Virtus Fund Advisers LLC purchased a new position in shares of ACADIA Pharmaceuticals during the 4th quarter valued at approximately $39,000. R Squared Ltd purchased a new position in shares of ACADIA Pharmaceuticals during the 4th quarter valued at approximately $47,000. Quest Partners LLC increased its holdings in shares of ACADIA Pharmaceuticals by 42.3% during the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 1,047 shares in the last quarter. Finally, GF Fund Management CO. LTD. purchased a new position in shares of ACADIA Pharmaceuticals during the 4th quarter valued at approximately $64,000. 96.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

ACADIA Pharmaceuticals Company Profile

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.