ACADIA Pharmaceuticals (NASDAQ:ACAD) Sets New 1-Year Low - What's Next?

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report) shares hit a new 52-week low on Wednesday . The stock traded as low as $14.19 and last traded at $14.21, with a volume of 160828 shares traded. The stock had previously closed at $14.52.

Analysts Set New Price Targets

Several equities analysts have commented on ACAD shares. UBS Group lowered their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a "buy" rating for the company in a research report on Thursday, August 8th. HC Wainwright reiterated a "buy" rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, August 8th. Morgan Stanley cut shares of ACADIA Pharmaceuticals from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $28.00 to $20.00 in a research report on Wednesday, August 7th. Raymond James reiterated a "market perform" rating on shares of ACADIA Pharmaceuticals in a report on Thursday, October 10th. Finally, Royal Bank of Canada decreased their price objective on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an "outperform" rating for the company in a report on Wednesday, August 7th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $25.56.

ACADIA Pharmaceuticals Stock Down 1.6 %

The company has a market cap of $2.36 billion, a PE ratio of -1,429.00, a price-to-earnings-growth ratio of 0.49 and a beta of 0.38. The firm has a 50 day simple moving average of $15.61 and a 200-day simple moving average of $16.15.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.18 by $0.02. ACADIA Pharmaceuticals had a net margin of 3.43% and a return on equity of 6.89%. The firm had revenue of $241.96 million during the quarter, compared to analyst estimates of $235.95 million. During the same quarter in the previous year, the business posted $0.01 EPS. ACADIA Pharmaceuticals's revenue was up 46.4% on a year-over-year basis. As a group, equities analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.52 EPS for the current year.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 9,534 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $145,679.52. Following the sale, the chief operating officer now directly owns 52,177 shares of the company's stock, valued at approximately $797,264.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Stephen Davis sold 31,747 shares of the firm's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $485,094.16. Following the transaction, the chief executive officer now directly owns 186,555 shares of the company's stock, valued at approximately $2,850,560.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Brendan Teehan sold 9,534 shares of the business's stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $145,679.52. Following the sale, the chief operating officer now owns 52,177 shares of the company's stock, valued at $797,264.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,014 shares of company stock valued at $779,494. 28.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP increased its holdings in shares of ACADIA Pharmaceuticals by 431.1% in the second quarter. Marshall Wace LLP now owns 2,774,353 shares of the biopharmaceutical company's stock valued at $45,083,000 after purchasing an additional 2,251,940 shares during the last quarter. Millennium Management LLC grew its holdings in ACADIA Pharmaceuticals by 36.2% in the 2nd quarter. Millennium Management LLC now owns 2,937,714 shares of the biopharmaceutical company's stock valued at $47,738,000 after buying an additional 781,070 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of ACADIA Pharmaceuticals in the 2nd quarter worth $10,550,000. Fred Alger Management LLC raised its holdings in shares of ACADIA Pharmaceuticals by 19.8% during the 2nd quarter. Fred Alger Management LLC now owns 2,704,439 shares of the biopharmaceutical company's stock worth $43,947,000 after acquiring an additional 446,875 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of ACADIA Pharmaceuticals by 419.8% during the 3rd quarter. SG Americas Securities LLC now owns 517,124 shares of the biopharmaceutical company's stock valued at $7,953,000 after acquiring an additional 417,648 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.