Downgrade Alert for Acadia Pharmaceuticals (ACAD)
Acadia Pharmaceuticals (NASDAQ:ACAD) was downgraded from Buy to Neutral at BofA/Merrill today. The stock closed yesterday at $33.50 on volume of 3.4 million shares, below average daily volume of 4.4 million.
Acadia Pharmaceuticals Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule drugs for the treatment of central nervous system disorders. The company is currently working on the treatment of induced dysfunction in Parkinson's disease ,schizophrenia, neuropathic pain and glaucoma.
Acadia Pharmaceuticals share prices have moved between a 52-week high of $51.99 and a 52-week low of $16.64 and closed yesterday at 101% above that low price at $33.50 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.1% while the 200-day MA has slid 1.2%.
There is potential upside of 43.7% for shares of Acadia Pharmaceuticals based on a current price of $33.50 and an average consensus analyst price target of $48.12. The stock should discover initial support at its 200-day moving average (MA) of $32.20 and subsequent support at its 50-day MA of $26.33.
SmarTrend recommended that subscribers consider buying shares of Acadia Pharmaceuticals on May 20th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $33.51. Since that recommendation, shares of Acadia Pharmaceuticals have risen 4.4%. We continue to monitor ACAD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades acadia pharmaceuticals