Price Bump From M&A Rumors Earns Acadia A Vetr Downgrade

The Vetr crowd downgraded their rating for ACADIA Pharmaceuticals Inc. ACAD on Wednesday, from 4 stars (Buy), issued nine days ago, to 3 stars (Hold). At the time of the downgrade, crowd confidence in ACADIA was mostly cautious, with 69 percent of Vetr user ratings bearish.

Share price in Acadia spiked over 8.5 percent Tuesday on rumors the biotech company was approached by AstraZeneca plc (ADR) AZN considering a possible acquisition. The rumor remains unconfirmed, but ACADIA remained steady the next day and closed Wednesday at $39.47.

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Currently, the Vetr crowd's average target price for the stock is up at $41.20, which is nearly even with the average analyst target price of $41.25. Less than 2 percent of Vetr users are holding ACAD in their watch lists.