ACADIA Pharmaceuticals (NASDAQ:ACAD) Sets New 1-Year Low at $16.60

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $16.60 and last traded at $16.74, with a volume of 1475997 shares traded. The stock had previously closed at $16.99.

Wall Street Analyst Weigh In

ACAD has been the topic of a number of analyst reports. Mizuho downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their price target for the company from $39.00 to $25.00 in a research report on Tuesday, March 12th. HC Wainwright restated a “buy” rating and issued a $33.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Wednesday, February 28th. Needham & Company LLC reiterated a “buy” rating and set a $32.00 target price on shares of ACADIA Pharmaceuticals in a report on Tuesday, April 9th. JMP Securities reiterated a “market outperform” rating and set a $42.00 price objective on shares of ACADIA Pharmaceuticals in a report on Wednesday, February 7th. Finally, JPMorgan Chase & Co. cut their price target on shares of ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday, March 25th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $35.82.

ACADIA Pharmaceuticals Stock Performance

The company has a fifty day moving average of $20.64 and a two-hundred day moving average of $23.72.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). The business had revenue of $231.04 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 69.3% on a year-over-year basis. During the same period last year, the firm posted ($0.26) EPS. Analysts predict that ACADIA Pharmaceuticals Inc. will post 0.62 earnings per share for the current year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 5,577 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $24.67, for a total value of $137,584.59. Following the sale, the chief executive officer now owns 101,890 shares in the company, valued at approximately $2,513,626.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Mark C. Schneyer sold 2,716 shares of the company’s 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 $48,534.92. Following the completion of the transaction, the chief financial officer now directly owns 28,742 shares of the company’s stock, valued at $513,619.54. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Stephen Davis sold 5,577 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $24.67, for a total value of $137,584.59. Following the completion of the transaction, the chief executive officer now directly owns 101,890 shares of the company’s stock, valued at $2,513,626.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,383 shares of company stock worth $1,291,362. Insiders own 27.50% of the company’s stock.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Quest Partners LLC bought a new position in ACADIA Pharmaceuticals during the fourth quarter valued at $39,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of ACADIA Pharmaceuticals in the fourth quarter worth $100,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of ACADIA Pharmaceuticals by 97.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 4,202 shares of the biopharmaceutical company’s stock worth $88,000 after acquiring an additional 2,070 shares during the period. Legato Capital Management LLC bought a new position in shares of ACADIA Pharmaceuticals in the fourth quarter worth $206,000. Finally, Old Well Partners LLC bought a new position in shares of ACADIA Pharmaceuticals in the fourth quarter worth $257,000. 96.71% of the stock is owned by institutional investors.

About ACADIA Pharmaceuticals

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.