ACADIA Pharmaceuticals (NASDAQ:ACAD) Reaches New 1-Year Low - Here's Why

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $13.87 and last traded at $14.10, with a volume of 1976876 shares trading hands. The stock had previously closed at $14.61.

Analysts Set New Price Targets

Several brokerages have recently commented on ACAD. Morgan Stanley reiterated an "equal weight" rating and set a $20.00 target price on shares of ACADIA Pharmaceuticals in a research note on Friday, March 7th. Cantor Fitzgerald reissued an "overweight" rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Guggenheim downgraded shares of ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $23.00 to $20.00 in a report on Friday, January 3rd. HC Wainwright reissued a "buy" rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Finally, StockNews.com upgraded ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday, March 8th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $23.93.

ACADIA Pharmaceuticals Stock Up 3.3 %

The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 18.69 and a beta of 0.54. The stock has a 50 day moving average of $17.57 and a 200 day moving average of $16.96.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 3,171 shares of the firm's stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $17.05, for a total value of $54,065.55. Following the sale, the executive vice president now owns 56,889 shares of the company's stock, valued at approximately $969,957.45. This trade represents a 5.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Elizabeth A. Garofalo sold 4,919 shares of ACADIA Pharmaceuticals stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total value of $89,673.37. Following the completion of the transaction, the director now owns 17,595 shares in the company, valued at approximately $320,756.85. The trade was a 21.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,169 shares of company stock worth $242,686. Corporate insiders own 28.30% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. grew its holdings in shares of ACADIA Pharmaceuticals by 26.8% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 131,061 shares of the biopharmaceutical company's stock valued at $2,177,000 after purchasing an additional 27,736 shares during the last quarter. Rhumbline Advisers boosted its position in ACADIA Pharmaceuticals by 100.9% in the first quarter. Rhumbline Advisers now owns 352,716 shares of the biopharmaceutical company's stock valued at $5,859,000 after buying an additional 177,188 shares in the last quarter. Summit Global Investments bought a new stake in shares of ACADIA Pharmaceuticals during the first quarter worth $398,000. GAMMA Investing LLC increased its holdings in shares of ACADIA Pharmaceuticals by 11,981.0% during the first quarter. GAMMA Investing LLC now owns 58,351 shares of the biopharmaceutical company's stock worth $969,000 after buying an additional 57,868 shares in the last quarter. Finally, Phocas Financial Corp. lifted its stake in shares of ACADIA Pharmaceuticals by 79.0% in the 4th quarter. Phocas Financial Corp. now owns 107,811 shares of the biopharmaceutical company's stock valued at $1,978,000 after acquiring an additional 47,596 shares during the last quarter. Institutional investors own 96.71% of the company's stock.

About ACADIA Pharmaceuticals

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.