ACADIA Pharmaceuticals (NASDAQ:ACAD) Sets 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 stock traded as low as $16.60 and last traded at $16.74, with a volume of 1475997 shares. The stock had previously closed at $16.99.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Mizuho downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $39.00 to $25.00 in a report on Tuesday, March 12th. StockNews.com upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, January 30th. Royal Bank of Canada cut their target price on shares of ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. JMP Securities restated a “market outperform” rating and issued a $42.00 target price on shares of ACADIA Pharmaceuticals in a research report on Wednesday, February 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $33.00 price target on shares of ACADIA Pharmaceuticals in a research report on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, ACADIA Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $35.82.

ACADIA Pharmaceuticals Trading Down 1.5 %

The business’s fifty day simple moving average is $20.64 and its two-hundred day simple moving average is $23.72.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly 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). ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The company had revenue of $231.04 million during the quarter, compared to analysts’ expectations of $223.79 million. During the same period last year, the firm earned ($0.26) earnings per share. ACADIA Pharmaceuticals’s revenue was up 69.3% on a year-over-year basis. Sell-side analysts expect that ACADIA Pharmaceuticals Inc. will post 0.62 EPS for the current year.

Insider Buying and Selling

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 value of $92,006.00. Following the completion of the sale, the chief operating officer now directly owns 36,340 shares of the company’s stock, valued at $650,486. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other ACADIA Pharmaceuticals news, insider James Kihara sold 1,790 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $17.87, for a total value of $31,987.30. Following the transaction, the insider now directly owns 13,100 shares of the company’s stock, valued at approximately $234,097. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Brendan Teehan sold 5,140 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $17.90, for a total transaction of $92,006.00. Following the completion of the sale, the chief operating officer now owns 36,340 shares of the company’s stock, valued at approximately $650,486. The disclosure for this sale can be found here. Insiders sold a total of 69,383 shares of company stock worth $1,291,362 in the last 90 days. Company insiders own 27.50% of the company’s stock.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC raised its stake in shares of ACADIA Pharmaceuticals by 1,284.6% during the 3rd quarter. SG Americas Securities LLC now owns 72,455 shares of the biopharmaceutical company’s stock worth $1,510,000 after buying an additional 67,222 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of ACADIA Pharmaceuticals by 18.1% in the third quarter. Raymond James & Associates now owns 10,614 shares of the biopharmaceutical company’s stock valued at $221,000 after purchasing an additional 1,630 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of ACADIA Pharmaceuticals by 12.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,405 shares of the biopharmaceutical company’s stock valued at $488,000 after purchasing an additional 2,548 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of ACADIA Pharmaceuticals by 8.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,338 shares of the biopharmaceutical company’s stock worth $1,695,000 after purchasing an additional 6,519 shares in the last quarter. Finally, Emerald Advisers LLC raised its position in shares of ACADIA Pharmaceuticals by 4.0% during the 3rd quarter. Emerald Advisers LLC now owns 1,681,052 shares of the biopharmaceutical company’s stock worth $35,033,000 after purchasing an additional 64,100 shares during the last quarter. 96.71% of the stock is owned by institutional investors and hedge funds.

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.