ACADIA Pharmaceuticals (NASDAQ:ACAD) Reaches New 12-Month Low at $16.60

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

Analyst Ratings Changes

Several research analysts recently weighed in on ACAD shares. JMP Securities reiterated a “market outperform” rating and set a $42.00 price target on shares of ACADIA Pharmaceuticals in a research report on Wednesday, February 7th. TheStreet raised ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a report on Tuesday, February 27th. Robert W. Baird started coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, January 30th. They issued an “outperform” rating and a $40.00 price target for the company. Royal Bank of Canada decreased their price objective on shares of ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Finally, Morgan Stanley cut their target price on shares of ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, March 13th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.82.

ACADIA Pharmaceuticals Trading Down 1.7 %

The company has a market capitalization of $2.69 billion, a PE ratio of -42.87 and a beta of 0.37. The company has a fifty day simple moving average of $20.29 and a 200-day simple moving average of $23.64.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). The firm had revenue of $231.04 million during the quarter, compared to analysts’ expectations of $223.79 million. ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The company’s revenue for the quarter was up 69.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.26) EPS. On average, equities analysts predict that ACADIA Pharmaceuticals Inc. will post 0.62 EPS for the current fiscal year.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, insider James Kihara sold 1,790 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, April 8th. The stock was sold at an average price of $17.87, for a total value of $31,987.30. Following the sale, the insider now owns 13,100 shares in the company, valued at $234,097. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Stephen Davis sold 5,577 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $24.67, for a total transaction of $137,584.59. Following the completion of the transaction, the chief executive officer now owns 101,890 shares of the company’s stock, valued at approximately $2,513,626.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Kihara sold 1,790 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $17.87, for a total value of $31,987.30. Following the transaction, the insider now owns 13,100 shares in the company, valued at $234,097. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,383 shares of company stock worth $1,291,362. Insiders own 27.50% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. Quest Partners LLC acquired a new position in ACADIA Pharmaceuticals in the 4th quarter valued at about $39,000. China Universal Asset Management Co. Ltd. grew 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 valued at $88,000 after purchasing an additional 2,070 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in ACADIA Pharmaceuticals during the 4th quarter worth approximately $100,000. Acadian Asset Management LLC purchased a new stake in ACADIA Pharmaceuticals during the 3rd quarter worth approximately $184,000. Finally, Legato Capital Management LLC acquired a new stake in ACADIA Pharmaceuticals during the 4th quarter worth approximately $206,000. Hedge funds and other institutional investors 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.