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 trading on Tuesday . The company traded as low as $16.60 and last traded at $17.08, with a volume of 57720 shares traded. The stock had previously closed at $16.89.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ACAD shares. TheStreet raised shares of ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a research report on Tuesday, February 27th. Oppenheimer reaffirmed a “market perform” rating and issued a $25.00 target price on shares of ACADIA Pharmaceuticals in a research report on Monday, February 5th. HC Wainwright reaffirmed a “buy” rating and issued a $33.00 target price on shares of ACADIA Pharmaceuticals in a research report on Wednesday, February 28th. Robert W. Baird started coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, January 30th. They issued an “outperform” rating and a $40.00 target price for the company. Finally, JPMorgan Chase & Co. cut their target price on shares of ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, March 25th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $35.82.

ACADIA Pharmaceuticals Stock Up 1.1 %

The firm’s 50 day simple moving average is $21.53 and its 200 day simple moving average is $23.87.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.04). The company had revenue of $231.04 million during the quarter, compared to analysts’ expectations of $223.79 million. ACADIA Pharmaceuticals had a negative return on equity of 15.67% and a negative net margin of 8.44%. The firm’s revenue for the quarter was up 69.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.26) EPS. As a group, equities analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.63 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Brendan Teehan sold 5,140 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $17.90, for a total transaction of $92,006.00. Following the sale, the chief operating officer now directly owns 36,340 shares in the company, valued at approximately $650,486. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Brendan Teehan sold 5,140 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $17.90, for a total transaction of $92,006.00. Following the sale, the chief operating officer now directly owns 36,340 shares in the company, valued at approximately $650,486. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephen Davis sold 26,574 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were 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 in the company, valued at $2,578,051.29. The disclosure for this sale can be found here. Insiders have sold a total of 69,383 shares of company stock worth $1,291,362 in the last 90 days. 27.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in ACAD. Norges Bank bought a new position in ACADIA Pharmaceuticals during the 4th quarter valued at about $31,110,000. RTW Investments LP grew its stake in ACADIA Pharmaceuticals by 18.3% in the 3rd quarter. RTW Investments LP now owns 11,576,537 shares of the biopharmaceutical company’s stock worth $241,255,000 after acquiring an additional 1,793,288 shares in the last quarter. State Street Corp grew its stake in ACADIA Pharmaceuticals by 30.4% in the 2nd quarter. State Street Corp now owns 6,593,950 shares of the biopharmaceutical company’s stock worth $92,909,000 after acquiring an additional 1,536,756 shares in the last quarter. Point72 Asset Management L.P. bought a new position in ACADIA Pharmaceuticals in the 4th quarter worth about $17,765,000. Finally, Man Group plc grew its stake in ACADIA Pharmaceuticals by 4,022.0% in the 4th quarter. Man Group plc now owns 955,688 shares of the biopharmaceutical company’s stock worth $15,215,000 after acquiring an additional 932,503 shares in the last quarter. 96.71% of the stock is currently 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.