ACADIA Pharmaceuticals (NASDAQ:ACAD) Shares Down 6.9% – Should You Sell?

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) were down 6.9% on Tuesday . The company traded as low as $16.64 and last traded at $16.67. Approximately 1,724,583 shares were traded during trading, a decline of 74% from the average daily volume of 6,695,666 shares. The stock had previously closed at $17.90.

Analyst Ratings Changes

Several brokerages have recently weighed in on ACAD. Raymond James restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. HC Wainwright reissued a “buy” rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. StockNews.com downgraded ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Finally, Guggenheim downgraded ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $23.00 to $20.00 in a report on Friday, January 3rd. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.25.

ACADIA Pharmaceuticals Stock Performance

The firm has a fifty day moving average price of $17.15 and a 200 day moving average price of $16.50. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 21.65 and a beta of 0.37.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The business had revenue of $250.40 million for the quarter, compared to analysts’ expectations of $248.83 million. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The company’s revenue was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.40) EPS. Research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, COO Brendan Teehan sold 10,329 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $173,630.49. Following the transaction, the chief operating officer now directly owns 62,105 shares in the company, valued at approximately $1,043,985.05. This represents a 14.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark C. Schneyer sold 10,259 shares of ACADIA Pharmaceuticals stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $172,453.79. Following the completion of the sale, the chief financial officer now owns 53,302 shares of the company’s stock, valued at $896,006.62. This trade represents a 16.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,661 shares of company stock worth $414,551. 28.30% of the stock is owned by insiders.

Institutional Trading of ACADIA Pharmaceuticals

Several institutional investors have recently made changes to their positions in the stock. State Street Corp increased its stake in ACADIA Pharmaceuticals by 3.0% during the third quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company’s stock worth $91,878,000 after acquiring an additional 173,084 shares during the last quarter. Fred Alger Management LLC increased its position in ACADIA Pharmaceuticals by 17.8% during the 3rd quarter. Fred Alger Management LLC now owns 3,186,389 shares of the biopharmaceutical company’s stock worth $49,007,000 after purchasing an additional 481,950 shares in the last quarter. Millennium Management LLC raised its holdings in ACADIA Pharmaceuticals by 36.2% in the second quarter. Millennium Management LLC now owns 2,937,714 shares of the biopharmaceutical company’s stock valued at $47,738,000 after buying an additional 781,070 shares during the period. D. E. Shaw & Co. Inc. lifted its position in ACADIA Pharmaceuticals by 11.1% during the second quarter. D. E. Shaw & Co. Inc. now owns 2,934,926 shares of the biopharmaceutical company’s stock valued at $47,693,000 after buying an additional 292,906 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in ACADIA Pharmaceuticals by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,875,540 shares of the biopharmaceutical company’s stock worth $44,234,000 after buying an additional 30,826 shares during the period. 96.71% of the stock is 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.