Acadia Pharmaceuticals Inc. (ACAD) Shares Down 1.6%
Acadia Pharmaceuticals Inc. (NASDAQ:ACAD)’s share price fell 1.6% during trading on Monday . The stock traded as low as $31.02 and last traded at $31.59, with a volume of 1,525,200 shares changing hands. The stock had previously closed at $32.10.
Several brokerages have commented on ACAD. Leerink Swann reaffirmed a “hold” rating on shares of Acadia Pharmaceuticals in a research report on Sunday, May 22nd. Needham & Company LLC reissued a “buy” rating and set a $49.00 price target on shares of Acadia Pharmaceuticals in a research report on Tuesday, July 26th. JMP Securities reissued a “buy” rating and set a $45.00 price target on shares of Acadia Pharmaceuticals in a research report on Wednesday, August 10th. HC Wainwright reissued a “buy” rating and set a $60.00 price target on shares of Acadia Pharmaceuticals in a research report on Monday, August 8th. Finally, Cowen and Company reissued an “outperform” rating and set a $42.00 price target on shares of Acadia Pharmaceuticals in a research report on Tuesday, July 26th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Acadia Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $45.80.
The firm’s market capitalization is $3.60 billion. The company’s 50 day moving average price is $34.15 and its 200-day moving average price is $30.73.
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 the Zacks’ consensus estimate of ($0.49) by $0.14. During the same period in the previous year, the firm earned ($0.39) earnings per share. The firm earned $0.97 million during the quarter, compared to analyst estimates of $0.71 million. The company’s quarterly revenue was up 96900.0% on a year-over-year basis. On average, equities analysts predict that Acadia Pharmaceuticals Inc. will post ($2.15) EPS for the current year.
In related news, Director Bros. Advisors Lp Baker bought 1,303,030 shares of the stock in a transaction that occurred on Wednesday, August 10th. The stock was purchased at an average cost of $33.00 per share, with a total value of $42,999,990.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Edmund Harrigan bought 1,000 shares of the stock in a transaction that occurred on Tuesday, August 16th. The shares were bought at an average cost of $32.97 per share, with a total value of $32,970.00. Following the completion of the purchase, the director now directly owns 1,000 shares in the company, valued at $32,970. The disclosure for this purchase can be found here.
An institutional investor recently raised its position in Acadia Pharmaceuticals stock. Morgan Stanley increased its stake in Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) by 9.3% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 321,183 shares of the biopharmaceutical company’s stock after buying an additional 27,260 shares during the period. Morgan Stanley owned about 0.32% of Acadia Pharmaceuticals worth $11,449,000 as of its most recent filing with the SEC.
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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