Acadia Pharmaceuticals Inc. (ACAD) Stock Price Down 1.4%
Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) dropped 1.4% on Monday . The stock traded as low as $32.14 and last traded at $32.41, with a volume of 748,748 shares changing hands. The stock had previously closed at $32.86.
ACAD has been the subject of several analyst reports. HC Wainwright reissued a “buy” rating on shares of Acadia Pharmaceuticals in a research report on Friday, May 6th. Vetr downgraded shares of Acadia Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $45.04 price target for the company. in a research report on Monday, June 6th. 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. Jefferies Group reissued a “buy” rating on shares of Acadia Pharmaceuticals in a research report on Wednesday, August 10th. Finally, 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. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Acadia Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $45.80.
The company has a 50 day moving average price of $34.37 and a 200-day moving average price of $30.32. The company’s market capitalization is $3.72 billion.
Acadia Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.63) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.49) by $0.14. The firm had revenue of $0.97 million for the quarter, compared to analysts’ expectations of $0.71 million. During the same quarter in the prior year, the company posted ($0.39) earnings per share. The company’s quarterly revenue was up 96900.0% on a year-over-year basis. On average, analysts expect that Acadia Pharmaceuticals Inc. will post ($2.15) earnings per share for the current year.
In other news, EVP Glenn Baity sold 4,057 shares of the firm’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $35.00, for a total value of $141,995.00. Following the transaction, the executive vice president now directly owns 66,978 shares of the company’s stock, valued at $2,344,230. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Edmund Harrigan purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The stock was acquired at an average cost of $32.97 per share, for a total transaction of $32,970.00. Following the completion of the purchase, the director now owns 1,000 shares of the company’s stock, valued at approximately $32,970. The disclosure for this purchase can be found here.
An institutional investor recently raised its position in Acadia Pharmaceuticals stock. Morgan Stanley raised its stake in Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) by 9.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 321,183 shares of the biopharmaceutical company’s stock after buying an additional 27,260 shares during the period. Morgan Stanley owned 0.32% of Acadia Pharmaceuticals worth $11,449,000 at the end of the most recent reporting period.
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.