ACADIA Pharmaceuticals Trading Down 7% on Disappointing Earnings (ACAD)
Shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) fell 7% on Wednesday after the company announced weaker than expected quarterly earnings, Stock Ratings News reports. The stock traded as low as $17.15 and last traded at $17.81, with a volume of 1,986,757 shares changing hands. The stock had previously closed at $19.16.
The company reported ($0.19) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.13) by $0.06.
A number of research firms have recently commented on ACAD. Analysts at Jefferies Group raised their price target on shares of ACADIA Pharmaceuticals from $26.00 to $38.00 in a research note on Tuesday, March 4th. Analysts at Zacks downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $26.33.
In other ACADIA Pharmaceuticals news, Director Torsten Rasmussen sold 32,857 shares of the stock on the open market in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $20.03, for a total value of $658,125.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
The stock has a 50-day moving average of $21.78 and a 200-day moving average of $23.63. The company’s market cap is $1.691 billion.
ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of small molecule drugs for the treatment of central nervous system disorders.
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