ACADIA Pharmaceuticals (NASDAQ:ACAD) Reaches New 12-Month Low at $16.60

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) shares hit 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 trading hands. The stock had previously closed at $16.99.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ACAD. Oppenheimer reiterated a “market perform” rating and issued a $25.00 price target on shares of ACADIA Pharmaceuticals in a research note on Monday, February 5th. Mizuho cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $39.00 to $25.00 in a report on Tuesday, March 12th. JPMorgan Chase & Co. decreased their price target on shares of ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, March 25th. HC Wainwright reissued a “buy” rating and issued a $33.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Wednesday, February 28th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $42.00 target price on shares of ACADIA Pharmaceuticals in a research note on Wednesday, February 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $35.82.

ACADIA Pharmaceuticals Stock Performance

The firm has a 50 day moving average price of $20.29 and a two-hundred day moving average price of $23.64. The company has a market cap of $2.69 billion, a P/E ratio of -42.87 and a beta of 0.37.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). The business had revenue of $231.04 million for 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%. The business’s quarterly revenue was up 69.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.26) earnings per share. On average, sell-side analysts predict that ACADIA Pharmaceuticals Inc. will post 0.62 EPS for the current fiscal year.

Insider Activity

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 26,574 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $17.87, for a total value of $474,877.38. Following the completion of the sale, the chief executive officer now owns 144,267 shares in the company, valued at approximately $2,578,051.29. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 26,574 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $17.87, for a total value of $474,877.38. Following the completion of the transaction, the chief executive officer now owns 144,267 shares in the company, valued at $2,578,051.29. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mark C. Schneyer sold 2,716 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $17.87, for a total transaction of $48,534.92. Following the completion of the transaction, the chief financial officer now owns 28,742 shares of the company’s stock, valued at $513,619.54. The disclosure for this sale can be found here. Insiders sold 69,383 shares of company stock worth $1,291,362 in the last three months. Corporate insiders own 27.50% of the company’s stock.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of hedge funds have recently bought and sold shares of ACAD. Mutual of America Capital Management LLC purchased a new position in shares of ACADIA Pharmaceuticals in the fourth quarter worth $2,206,000. Qube Research & Technologies Ltd raised its holdings in shares of ACADIA Pharmaceuticals by 757.2% during the third quarter. Qube Research & Technologies Ltd now owns 212,919 shares of the biopharmaceutical company’s stock valued at $4,437,000 after purchasing an additional 188,080 shares during the last quarter. RTW Investments LP lifted its position in ACADIA Pharmaceuticals by 18.3% during the third quarter. RTW Investments LP now owns 11,576,537 shares of the biopharmaceutical company’s stock valued at $241,255,000 after purchasing an additional 1,793,288 shares during the period. Charles Schwab Investment Management Inc. lifted its position in ACADIA Pharmaceuticals by 9.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,073,093 shares of the biopharmaceutical company’s stock valued at $22,363,000 after purchasing an additional 91,641 shares during the period. Finally, Northern Trust Corp boosted its holdings in ACADIA Pharmaceuticals by 4.9% in the third quarter. Northern Trust Corp now owns 1,220,677 shares of the biopharmaceutical company’s stock worth $25,439,000 after purchasing an additional 57,555 shares during the last quarter. Institutional investors own 96.71% of the company’s stock.

About ACADIA Pharmaceuticals

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.