ACADIA Pharmaceuticals (NASDAQ:ACAD) Hits New 52-Week Low at $16.60

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $16.60 and last traded at $17.08, with a volume of 57720 shares changing hands. The stock had previously closed at $16.89.

Analysts Set New Price Targets

A number of research analysts have issued reports on ACAD shares. JMP Securities reissued a “market outperform” rating and issued a $42.00 target price on shares of ACADIA Pharmaceuticals in a research note on Wednesday, February 7th. Mizuho cut ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $39.00 to $25.00 in a research report on Tuesday, March 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Wednesday, April 10th. Stifel Nicolaus upped their price objective on ACADIA Pharmaceuticals from $25.00 to $27.00 and gave the stock a “hold” rating in a research report on Monday, December 18th. Finally, StockNews.com raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, January 30th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $35.82.

ACADIA Pharmaceuticals Stock Performance

The stock has a 50 day moving average price of $21.53 and a two-hundred day moving average price of $23.87.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). The firm had revenue of $231.04 million for the quarter, compared to the consensus estimate of $223.79 million. ACADIA Pharmaceuticals had a negative return on equity of 15.67% and a negative net margin of 8.44%. ACADIA Pharmaceuticals’s revenue for the quarter was up 69.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.26) EPS. On average, research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.63 EPS for the current year.

Insider Transactions at ACADIA Pharmaceuticals

In related news, CEO Stephen Davis sold 26,574 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $17.87, for a total transaction of $474,877.38. Following the sale, the chief executive officer now owns 144,267 shares of the company’s stock, valued at $2,578,051.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Mark C. Schneyer sold 5,434 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $17.90, for a total transaction of $97,268.60. Following the sale, the chief financial officer now owns 26,183 shares of the company’s stock, valued at $468,675.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen Davis sold 26,574 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $17.87, for a total value of $474,877.38. Following the sale, the chief executive officer now directly owns 144,267 shares in the company, valued at approximately $2,578,051.29. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,383 shares of company stock worth $1,291,362. Company insiders own 27.50% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 3.5% in the 1st quarter. Los Angeles Capital Management LLC now owns 67,474 shares of the biopharmaceutical company’s stock valued at $1,248,000 after purchasing an additional 2,295 shares in the last quarter. Fisher Asset Management LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $4,479,000. Wellington Management Group LLP acquired a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $1,221,000. Perceptive Advisors LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $3,162,000. Finally, Eventide Asset Management LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $25,342,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization innovative medicines that address unmet medical needs in central nervous system (CNS) disorders and rare diseases in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for treatment of Rett Syndrome.