Acadia Pharmaceuticals Inc. (ACAD) Stock Price Down 4.4%
Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) shares traded down 4.4% during mid-day trading on Tuesday . The stock traded as low as $35.46 and last traded at $35.61, with a volume of 838,632 shares. The stock had previously closed at $37.23.
Several research analysts have recently issued reports on the company. Piper Jaffray Cos. restated an “overweight” rating and issued a $44.00 price target on shares of Acadia Pharmaceuticals in a research report on Friday, July 8th. Cowen and Company reaffirmed a “buy” rating on shares of Acadia Pharmaceuticals in a research note on Sunday, April 17th. Vetr downgraded Acadia Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $41.00 price objective on the stock. in a research note on Tuesday, July 26th. Zacks Investment Research downgraded Acadia Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, July 25th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Acadia Pharmaceuticals in a research note on Friday, May 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $45.90.
The stock’s market cap is $4.14 billion. The stock’s 50 day moving average is $34.84 and its 200-day moving average is $28.82.
Acadia Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by $0.03. During the same period in the prior year, the business posted ($0.40) EPS. On average, analysts forecast that Acadia Pharmaceuticals Inc. will post ($1.81) earnings per share for the current fiscal year.
In other news, EVP Glenn Baity sold 4,057 shares of the company’s stock in a transaction on Monday, July 11th. The shares were sold at an average price of $35.00, for a total transaction of $141,995.00. Following the completion of the transaction, the executive vice president now directly owns 66,978 shares in the company, valued at $2,344,230. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Several hedge funds have modified their holdings of ACAD. Westfield Capital Management Co. LP acquired a new stake in shares of Acadia Pharmaceuticals during the fourth quarter valued at $52,744,000. Eagle Asset Management acquired a new stake in shares of Acadia Pharmaceuticals during the third quarter valued at $40,764,000. BlackRock Advisors LLC boosted its stake in shares of Acadia Pharmaceuticals by 1.6% in the fourth quarter. BlackRock Advisors LLC now owns 323,776 shares of the biopharmaceutical company’s stock valued at $11,543,000 after buying an additional 5,240 shares in the last quarter. Morgan Stanley boosted its stake in shares of Acadia Pharmaceuticals by 9.3% in the fourth quarter. Morgan Stanley now owns 321,183 shares of the biopharmaceutical company’s stock valued at $11,449,000 after buying an additional 27,260 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of Acadia Pharmaceuticals by 0.5% in the fourth quarter. California Public Employees Retirement System now owns 194,000 shares of the biopharmaceutical company’s stock valued at $6,916,000 after buying an additional 900 shares in the last quarter.
ACADIA Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system disorders. The Company’s lead drug candidate, NUPLAZID (pimavanserin), is under development for the treatment of Parkinson’s disease psychosis (PDP).
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