ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Get Free Report) hit a new 52-week low during trading on Wednesday. The stock traded as low as $19.50 and last traded at $19.74, with a volume of 37838 shares. The stock had previously closed at $19.74.
Analyst Upgrades and Downgrades
Several research firms have issued reports on ACAD. Citizens Jmp decreased their price objective on shares of ACADIA Pharmaceuticals from $36.00 to $33.00 and set a “market outperform” rating on the stock in a report on Friday, September 25th. Citigroup reissued a “buy” rating and set a $33.00 target price (down from $40.00) on shares of ACADIA Pharmaceuticals in a research note on Friday, September 25th. Oppenheimer restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Wednesday, September 23rd. TD Cowen reaffirmed a “buy” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, September 24th. Finally, Weiss Ratings upgraded ACADIA Pharmaceuticals from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, August 12th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.76.
Check Out Our Latest Research Report on ACAD
ACADIA Pharmaceuticals Price Performance
ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.11. ACADIA Pharmaceuticals had a net margin of 33.42% and a return on equity of 9.03%. The company had revenue of $308.00 million during the quarter, compared to analysts’ expectations of $296.55 million. During the same quarter in the prior year, the company earned $0.16 EPS. ACADIA Pharmaceuticals’s revenue was up 16.4% compared to the same quarter last year. Analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.64 earnings per share for the current year.
Insider Activity at ACADIA Pharmaceuticals
In related news, EVP Mark Schneyer sold 14,292 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $29.22, for a total value of $417,612.24. Following the completion of the sale, the executive vice president owned 67,828 shares of the company’s stock, valued at approximately $1,981,934.16. This trade represents a 17.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Elizabeth Thompson sold 16,558 shares of the business’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $26.13, for a total value of $432,660.54. Following the transaction, the executive vice president directly owned 18,994 shares in the company, valued at $496,313.22. This trade represents a 46.57% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 36,699 shares of company stock valued at $1,019,894. Insiders own 26.20% of the company’s stock.
Hedge Funds Weigh In On ACADIA Pharmaceuticals
A number of institutional investors have recently bought and sold shares of ACAD. Nykredit A S acquired a new stake in shares of ACADIA Pharmaceuticals during the 2nd quarter worth approximately $38,000. Integrated Wealth Concepts LLC acquired a new position in ACADIA Pharmaceuticals in the second quarter valued at about $50,000. Global Retirement Partners LLC acquired a new position in ACADIA Pharmaceuticals in the second quarter valued at about $64,000. GAMMA Investing LLC boosted its stake in ACADIA Pharmaceuticals by 15.6% during the second quarter. GAMMA Investing LLC now owns 2,985 shares of the biopharmaceutical company’s stock worth $76,000 after buying an additional 402 shares during the period. Finally, Transamerica Financial Advisors LLC acquired a new stake in shares of ACADIA Pharmaceuticals during the second quarter valued at about $104,000. 96.71% of the stock is owned by hedge funds and other institutional investors.
About ACADIA Pharmaceuticals
ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system disorders and rare diseases. The company is headquartered in San Diego, California, and serves patients and healthcare providers primarily in the United States.
ACADIA’s commercial products include NUPLAZID (pimavanserin), an atypical antipsychotic approved in the United States for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis.
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