Acadia Pharmaceuticals Inc. (ACAD) Sees Unusually-High Trading Volume
Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) saw strong trading volume on Tuesday . 2,972,416 shares changed hands during mid-day trading, an increase of 65% from the previous session’s volume of 1,801,355 shares.The stock last traded at $34.00 and had previously closed at $35.23.
A number of equities analysts recently commented on the company. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $44.00 target price on shares of Acadia Pharmaceuticals in a report on Friday, July 8th. Cowen and Company reaffirmed a “buy” rating on shares of Acadia Pharmaceuticals in a report on Sunday, April 17th. Vetr lowered Acadia Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $41.00 price objective for the company. in a research report on Tuesday, July 26th. HC Wainwright restated a “buy” rating and set a $60.00 price objective on shares of Acadia Pharmaceuticals in a research report on Monday. Finally, Zacks Investment Research lowered Acadia Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, July 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Acadia Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $45.80.
The stock’s 50-day moving average is $34.35 and its 200 day moving average is $29.33. The firm’s market capitalization is $3.66 billion.
Acadia Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by $0.14. During the same period in the prior year, the business posted ($0.39) EPS. The business had revenue of $0.97 million for the quarter, compared to analyst estimates of $0.71 million. The business’s revenue for the quarter was up 96900.0% on a year-over-year basis. Equities research analysts forecast that Acadia Pharmaceuticals Inc. will post ($2.16) EPS for the current fiscal year.
In related news, EVP Glenn Baity sold 4,057 shares of the company’s stock in a transaction dated 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 owns 66,978 shares in the company, valued at approximately $2,344,230. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Several hedge funds and institutional investors recently added to or reduced their stakes in ACAD. Westfield Capital Management Co. LP bought a new position in Acadia Pharmaceuticals during the fourth quarter valued at $52,744,000. BlackRock Advisors LLC increased its stake in Acadia Pharmaceuticals by 1.6% in the fourth quarter. BlackRock Advisors LLC now owns 323,776 shares of the biopharmaceutical company’s stock worth $11,543,000 after buying an additional 5,240 shares during the last quarter. Morgan Stanley increased its stake in Acadia Pharmaceuticals by 9.3% in the fourth quarter. Morgan Stanley now owns 321,183 shares of the biopharmaceutical company’s stock worth $11,449,000 after buying an additional 27,260 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Acadia Pharmaceuticals by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 150,666 shares of the biopharmaceutical company’s stock worth $5,372,000 after buying an additional 1,739 shares during the last quarter. Finally, New York State Common Retirement Fund increased its stake in Acadia Pharmaceuticals by 13.6% in the fourth quarter. New York State Common Retirement Fund now owns 95,020 shares of the biopharmaceutical company’s stock worth $3,387,000 after buying an additional 11,400 shares during 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).
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.