ACADIA Pharmaceuticals (NASDAQ:ACAD) Hits New 12-Month Low on Analyst Downgrade

ACADIA Pharmaceuticals Inc. (NASDAQ:ACADGet Free Report) shares reached a new 52-week low during trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $29.00 to $25.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. ACADIA Pharmaceuticals traded as low as $17.56 and last traded at $17.80, with a volume of 881301 shares trading hands. The stock had previously closed at $17.95.

A number of other research firms have also recently issued reports on ACAD. Oppenheimer reiterated a “market perform” rating and set a $25.00 target price on shares of ACADIA Pharmaceuticals in a report on Monday, February 5th. Robert W. Baird initiated coverage on ACADIA Pharmaceuticals in a report on Tuesday, January 30th. They set an “outperform” rating and a $40.00 target price for the company. TheStreet upgraded ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a report on Tuesday, February 27th. Deutsche Bank Aktiengesellschaft initiated coverage on ACADIA Pharmaceuticals in a report on Tuesday, December 12th. They set a “buy” rating and a $25.00 target price for the company. Finally, Royal Bank of Canada lowered their target price on ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.12.

View Our Latest Stock Analysis on ACADIA Pharmaceuticals

Insider Activity at ACADIA Pharmaceuticals

In other news, CEO Stephen Davis sold 3,732 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $29.96, for a total transaction of $111,810.72. Following the completion of the sale, the chief executive officer now owns 96,521 shares in the company, valued at $2,891,769.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 12,500 shares of company stock worth $335,105. Insiders own 27.50% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the company. Empire Life Investments Inc. boosted its holdings in shares of ACADIA Pharmaceuticals by 0.3% during the fourth quarter. Empire Life Investments Inc. now owns 174,815 shares of the biopharmaceutical company’s stock worth $5,473,000 after acquiring an additional 467 shares during the period. Legal & General Group Plc raised its position in shares of ACADIA Pharmaceuticals by 0.5% in the third quarter. Legal & General Group Plc now owns 115,494 shares of the biopharmaceutical company’s stock valued at $2,407,000 after buying an additional 574 shares in the last quarter. Amalgamated Bank raised its position in shares of ACADIA Pharmaceuticals by 3.2% in the fourth quarter. Amalgamated Bank now owns 19,880 shares of the biopharmaceutical company’s stock valued at $316,000 after buying an additional 622 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in shares of ACADIA Pharmaceuticals by 6.6% in the second quarter. Ameritas Investment Partners Inc. now owns 10,007 shares of the biopharmaceutical company’s stock valued at $240,000 after buying an additional 623 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its position in shares of ACADIA Pharmaceuticals by 2.3% in the fourth quarter. Handelsbanken Fonder AB now owns 31,633 shares of the biopharmaceutical company’s stock valued at $990,000 after buying an additional 700 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

ACADIA Pharmaceuticals Price Performance

The business’s 50-day moving average price is $24.27 and its two-hundred day moving average price is $24.58. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of -46.95 and a beta of 0.40.

ACADIA Pharmaceuticals (NASDAQ:ACADGet Free Report) last released 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 business had revenue of $231.04 million during the quarter, compared to analyst estimates of $223.79 million. During the same quarter in the previous year, the firm posted ($0.26) earnings per share. The firm’s quarterly revenue was up 69.3% on a year-over-year basis. As a group, research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.64 EPS for the current year.

ACADIA Pharmaceuticals Company Profile

(Get Free Report)

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.

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