ACADIA Pharmaceuticals (NASDAQ:ACAD) Shares Down 6.9% - Time to Sell?

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

Analysts Set New Price Targets

ACAD has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $28.00 price target 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. Guggenheim downgraded ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and reduced their target price for the company from $23.00 to $20.00 in a report on Friday, January 3rd. Raymond James reissued a "market perform" rating on shares of ACADIA Pharmaceuticals in a report on Thursday, October 10th. Finally, StockNews.com downgraded ACADIA Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Thursday, November 14th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, ACADIA Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $25.25.

ACADIA Pharmaceuticals Trading Down 5.6 %

The company has a 50 day moving average price of $17.15 and a 200 day moving average price of $16.50. The firm has a market cap of $2.81 billion, a PE ratio of 21.67 and a beta of 0.37.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.14 by $0.06. The business had revenue of $250.40 million for the quarter, compared to analyst estimates of $248.83 million. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The company's quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.40) EPS. As a group, equities research analysts anticipate 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, CFO Mark C. Schneyer sold 10,259 shares of ACADIA Pharmaceuticals stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $172,453.79. Following the completion of the transaction, the chief financial officer now directly owns 53,302 shares in the company, valued at approximately $896,006.62. This trade represents a 16.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Brendan Teehan sold 10,329 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $173,630.49. Following the transaction, the chief operating officer now owns 62,105 shares of the company's stock, valued at approximately $1,043,985.05. This represents a 14.26 % decrease in their ownership of the stock. 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 Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Park Place Capital Corp bought a new position in shares of ACADIA Pharmaceuticals in the third quarter valued at $25,000. Values First Advisors Inc. purchased a new position in ACADIA Pharmaceuticals during the 3rd quarter worth approximately $27,000. Quest Partners LLC grew its position in 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 purchasing an additional 1,047 shares in the last quarter. Stonepine Capital Management LLC purchased a new position in ACADIA Pharmaceuticals during the 2nd quarter worth approximately $81,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in ACADIA Pharmaceuticals by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company's stock worth $94,000 after purchasing an additional 1,066 shares in 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.