ACADIA Pharmaceuticals (NASDAQ:ACAD) Sets New 12-Month Low Following Analyst Downgrade

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) reached a new 52-week low during trading on Thursday after Robert W. Baird lowered their price target on the stock from $31.00 to $28.00. Robert W. Baird currently has an outperform rating on the stock. ACADIA Pharmaceuticals traded as low as $15.68 and last traded at $15.81, with a volume of 407588 shares. The stock had previously closed at $17.13.

A number of other analysts have also weighed in on ACAD. HC Wainwright reaffirmed a “buy” rating and issued a $33.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Wednesday, February 28th. Cantor Fitzgerald restated an “overweight” rating and issued a $37.00 price target on shares of ACADIA Pharmaceuticals in a report on Tuesday, April 30th. JMP Securities restated a “market outperform” rating and issued a $42.00 price target on shares of ACADIA Pharmaceuticals in a report on Wednesday, February 7th. JPMorgan Chase & Co. reduced their price target on shares of ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, March 25th. Finally, Mizuho reduced their price target on shares of ACADIA Pharmaceuticals from $25.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $30.63.

Insiders Place Their Bets

In other news, CFO Mark C. Schneyer sold 3,503 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total value of $59,340.82. Following the completion of the transaction, the chief financial officer now owns 32,053 shares of the company’s stock, valued at approximately $542,977.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other ACADIA Pharmaceuticals news, CFO Mark C. Schneyer sold 3,503 shares of ACADIA Pharmaceuticals stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total value of $59,340.82. Following the completion of the transaction, the chief financial officer now owns 32,053 shares of the company’s stock, valued at $542,977.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Brendan Teehan sold 3,477 shares of ACADIA Pharmaceuticals stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total transaction of $58,900.38. Following the completion of the sale, the chief operating officer now directly owns 42,133 shares in the company, valued at approximately $713,733.02. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,116 shares of company stock valued at $1,625,639. 27.50% of the stock is owned by insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System boosted its stake in ACADIA Pharmaceuticals by 15.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 39,881 shares of the biopharmaceutical company’s stock worth $751,000 after purchasing an additional 5,300 shares during the last quarter. ProShare Advisors LLC boosted its stake in ACADIA Pharmaceuticals by 10.0% during the 1st quarter. ProShare Advisors LLC now owns 33,583 shares of the biopharmaceutical company’s stock worth $621,000 after purchasing an additional 3,048 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in ACADIA Pharmaceuticals by 12.3% during the 1st quarter. Russell Investments Group Ltd. now owns 20,689 shares of the biopharmaceutical company’s stock worth $383,000 after purchasing an additional 2,264 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of ACADIA Pharmaceuticals during the 1st quarter worth $48,000. Finally, Sei Investments Co. raised its holdings in shares of 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 acquiring an additional 2,034 shares during the period. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Trading Down 7.7 %

The firm has a fifty day moving average price of $18.66 and a 200 day moving average price of $23.21. The firm has a market cap of $2.61 billion, a PE ratio of -45.08 and a beta of 0.42.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.06. The firm had revenue of $205.83 million for the quarter, compared to analyst estimates of $208.31 million. ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. ACADIA Pharmaceuticals’s revenue was up 73.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.27) EPS. As a group, equities analysts predict that ACADIA Pharmaceuticals Inc. will post 0.62 earnings per share for the current year.

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.