ACADIA Pharmaceuticals (NASDAQ:ACAD) Reaches New 52-Week Low – Here’s What Happened

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) reached a new 52-week low during trading on Wednesday . The stock traded as low as $14.19 and last traded at $14.21, with a volume of 160828 shares trading hands. The stock had previously closed at $14.52.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ACAD shares. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, September 13th. UBS Group dropped their price target on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada reduced their price objective on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Cantor Fitzgerald lowered their target price on ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Finally, BMO Capital Markets initiated coverage on ACADIA Pharmaceuticals in a research report on Thursday, June 27th. They issued an “outperform” rating and a $31.00 price target on the stock. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, ACADIA Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $25.56.

ACADIA Pharmaceuticals Price Performance

The company’s 50 day simple moving average is $15.58 and its 200 day simple moving average is $16.13. The company has a market capitalization of $2.39 billion, a PE ratio of -1,448.00, a price-to-earnings-growth ratio of 0.49 and a beta of 0.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. ACADIA Pharmaceuticals had a net margin of 3.43% and a return on equity of 6.89%. The firm had revenue of $241.96 million for the quarter, compared to the consensus estimate of $235.95 million. During the same period last year, the firm posted $0.01 EPS. The company’s revenue was up 46.4% on a year-over-year basis. On average, equities analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.52 EPS for the current year.

Insider Activity

In related news, CEO Stephen Davis sold 31,747 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $485,094.16. Following the transaction, the chief executive officer now owns 186,555 shares in the company, valued at $2,850,560.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Stephen Davis sold 31,747 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $485,094.16. Following the completion of the sale, the chief executive officer now owns 186,555 shares in the company, valued at $2,850,560.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brendan Teehan sold 9,534 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $145,679.52. Following the completion of the sale, the chief operating officer now directly owns 52,177 shares of the company’s stock, valued at $797,264.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 51,014 shares of company stock valued at $779,494. Insiders own 28.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. M&G Plc acquired a new stake in shares of ACADIA Pharmaceuticals in the 1st quarter worth $5,622,000. SG Americas Securities LLC lifted its position in ACADIA Pharmaceuticals by 246.7% in the first quarter. SG Americas Securities LLC now owns 84,956 shares of the biopharmaceutical company’s stock valued at $1,571,000 after purchasing an additional 60,452 shares during the period. Fred Alger Management LLC increased its position in ACADIA Pharmaceuticals by 19.8% during the 2nd quarter. Fred Alger Management LLC now owns 2,704,439 shares of the biopharmaceutical company’s stock worth $43,947,000 after purchasing an additional 446,875 shares during the period. Sei Investments Co. increased its position in ACADIA Pharmaceuticals by 6.2% during the 1st quarter. Sei Investments Co. now owns 34,752 shares of the biopharmaceutical company’s stock worth $642,000 after purchasing an additional 2,034 shares during the period. Finally, Headlands Technologies LLC acquired a new position in ACADIA Pharmaceuticals during the 1st quarter worth approximately $48,000. 96.71% of the stock is currently 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.