ACADIA Pharmaceuticals (NASDAQ:ACAD) Shares Down 2.9% – Here’s Why

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) shares traded down 2.9% on Thursday . The stock traded as low as $16.41 and last traded at $16.42. 65,353 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 1,663,345 shares. The stock had previously closed at $16.91.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ACAD shares. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Raymond James restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 10th. HC Wainwright reissued a “buy” rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Finally, StockNews.com downgraded ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $25.60.

ACADIA Pharmaceuticals Stock Performance

The company has a market capitalization of $2.81 billion, a PE ratio of 21.63 and a beta of 0.40. The firm’s 50-day simple moving average is $16.20 and its 200 day simple moving average is $16.21.

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

Insider Transactions at ACADIA Pharmaceuticals

In related news, COO Brendan Teehan sold 10,329 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $173,630.49. Following the completion of the transaction, the chief operating officer now owns 62,105 shares of the company’s stock, valued at approximately $1,043,985.05. The trade was a 14.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James Kihara sold 4,073 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $68,467.13. Following the sale, the insider now directly owns 19,863 shares in the company, valued at $333,897.03. This represents a 17.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,661 shares of company stock valued at $414,551 in the last 90 days. 28.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Park Place Capital Corp purchased a new stake in ACADIA Pharmaceuticals in the 3rd quarter valued at about $25,000. Values First Advisors Inc. purchased a new stake in shares of ACADIA Pharmaceuticals during the 3rd quarter valued at $27,000. Quest Partners LLC increased its holdings in shares of ACADIA Pharmaceuticals by 42.3% during the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after buying an additional 1,047 shares during the last quarter. Stonepine Capital Management LLC purchased a new stake in ACADIA Pharmaceuticals during the second quarter valued at about $81,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in ACADIA Pharmaceuticals by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock worth $94,000 after acquiring an additional 1,066 shares during the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

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.