ACADIA Pharmaceuticals (NASDAQ:ACAD) Reaches New 52-Week Low at $16.60

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $16.60 and last traded at $17.08, with a volume of 57720 shares changing hands. The stock had previously closed at $16.89.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Oppenheimer reaffirmed a “market perform” rating and set a $25.00 price target on shares of ACADIA Pharmaceuticals in a research note on Monday, February 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Wednesday, April 10th. Morgan Stanley cut their price objective on ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, March 13th. JMP Securities reiterated a “market outperform” rating and set a $42.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Wednesday, February 7th. Finally, StockNews.com upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, January 30th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.82.

ACADIA Pharmaceuticals Price Performance

The stock has a fifty day moving average price of $21.20 and a 200-day moving average price of $23.80. The company has a market cap of $2.83 billion, a PE ratio of -45.24 and a beta of 0.37.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results 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 business 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%. ACADIA Pharmaceuticals’s revenue for the quarter was up 69.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.26) EPS. On average, equities analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.63 earnings per share for the current year.

Insider Transactions at ACADIA Pharmaceuticals

In other news, CEO Stephen Davis sold 5,577 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $24.67, for a total transaction of $137,584.59. Following the completion of the sale, the chief executive officer now directly owns 101,890 shares of the company’s stock, valued at approximately $2,513,626.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Mark C. Schneyer sold 5,434 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $17.90, for a total transaction of $97,268.60. Following the completion of the sale, the chief financial officer now directly owns 26,183 shares of the company’s stock, valued at approximately $468,675.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephen Davis sold 5,577 shares of the firm’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 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. Insiders sold 69,383 shares of company stock valued at $1,291,362 in the last three months. Corporate insiders own 27.50% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quest Partners LLC purchased a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter worth about $39,000. KBC Group NV acquired a new position in shares of ACADIA Pharmaceuticals during the 4th quarter valued at about $83,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of ACADIA Pharmaceuticals by 97.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,202 shares of the biopharmaceutical company’s stock valued at $88,000 after acquiring an additional 2,070 shares during the last quarter. State of Wyoming acquired a new position in shares of ACADIA Pharmaceuticals during the 4th quarter valued at about $92,000. Finally, Lazard Asset Management LLC increased its holdings in shares of ACADIA Pharmaceuticals by 35.8% during the 2nd quarter. Lazard Asset Management LLC now owns 4,125 shares of the biopharmaceutical company’s stock valued at $98,000 after acquiring an additional 1,088 shares during the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

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.