ACADIA Pharmaceuticals (NASDAQ:ACAD) Trading Down 2.9% - Here's Why

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

Analysts Set New Price Targets

Several analysts recently issued reports on the company. HC Wainwright reiterated a "buy" rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. StockNews.com downgraded shares of ACADIA Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Thursday, November 14th. Raymond James reissued a "market perform" rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 10th. Finally, Needham & Company LLC reissued a "buy" rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $25.60.

ACADIA Pharmaceuticals Stock Down 1.1 %

The company has a market cap of $2.78 billion, a P/E ratio of 21.45 and a beta of 0.40. The firm has a fifty day moving average price of $16.16 and a 200 day moving average price of $16.21.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.14 by $0.06. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The business had revenue of $250.40 million for the quarter, compared to analysts' expectations of $248.83 million. During the same period in the prior year, the firm earned ($0.40) earnings per share. ACADIA Pharmaceuticals's revenue was up 18.3% compared to the same quarter last year. On average, sell-side analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.73 earnings per share for the current year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, COO Brendan Teehan sold 10,329 shares of the company's stock in a transaction that occurred on 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 in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. 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 directly owns 53,302 shares in the company, valued at $896,006.62. This represents a 16.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,661 shares of company stock valued at $414,551. Corporate insiders own 28.30% of the company's stock.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several hedge funds have recently made changes to their positions in ACAD. Park Place Capital Corp acquired a new position in ACADIA Pharmaceuticals during the third quarter worth $25,000. Values First Advisors Inc. acquired a new position in shares of ACADIA Pharmaceuticals during the 3rd quarter worth about $27,000. Quest Partners LLC grew its holdings in shares of ACADIA Pharmaceuticals by 42.3% in the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company's stock valued at $54,000 after acquiring an additional 1,047 shares in the last quarter. Stonepine Capital Management LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the second quarter valued at about $81,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings 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 in the last quarter. 96.71% of the stock is owned by 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.