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

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on ACAD. StockNews.com raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, January 30th. Oppenheimer reaffirmed a “market perform” rating and set a $25.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Monday, February 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Wednesday, April 10th. Robert W. Baird assumed coverage on ACADIA Pharmaceuticals in a research note on Tuesday, January 30th. They set an “outperform” rating and a $40.00 price objective for the company. Finally, Morgan Stanley decreased their price objective on ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.82.

ACADIA Pharmaceuticals Price Performance

The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of -45.24 and a beta of 0.37. The business has a 50 day simple moving average of $21.20 and a 200-day simple moving average of $23.80.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted 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). 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 period in the previous year, the firm posted ($0.26) earnings per share. The firm’s revenue was up 69.3% on a year-over-year basis. As a group, equities analysts predict that ACADIA Pharmaceuticals Inc. will post 0.63 earnings per share for the current year.

Insider Activity

In other news, COO Brendan Teehan sold 5,140 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $17.90, for a total value of $92,006.00. Following the sale, the chief operating officer now directly owns 36,340 shares in the company, valued at $650,486. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Mark C. Schneyer sold 2,716 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $17.87, for a total value of $48,534.92. Following the sale, the chief financial officer now directly owns 28,742 shares in the company, valued at $513,619.54. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Brendan Teehan sold 5,140 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $17.90, for a total value of $92,006.00. Following the sale, the chief operating officer now owns 36,340 shares in the company, valued at approximately $650,486. 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 over the last three months. Corporate insiders own 27.50% of the company’s stock.

Institutional Trading of ACADIA Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of ACAD. Raymond James Financial Services Advisors Inc. bought a new stake in ACADIA Pharmaceuticals during the first quarter worth about $572,000. HighTower Advisors LLC bought a new stake in ACADIA Pharmaceuticals during the first quarter worth about $1,077,000. MetLife Investment Management LLC raised its holdings in ACADIA Pharmaceuticals by 54.0% during the first quarter. MetLife Investment Management LLC now owns 66,351 shares of the biopharmaceutical company’s stock worth $1,607,000 after acquiring an additional 23,265 shares in the last quarter. Rhumbline Advisers raised its holdings in ACADIA Pharmaceuticals by 3.9% during the first quarter. Rhumbline Advisers now owns 133,444 shares of the biopharmaceutical company’s stock worth $3,232,000 after acquiring an additional 5,011 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in ACADIA Pharmaceuticals during the first quarter worth about $1,380,000. Institutional investors own 96.71% of the company’s stock.

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.