ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Price Down 2.9% – What’s Next?

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)’s stock price 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 trading, a decline of 96% from the average session volume of 1,663,345 shares. The stock had previously closed at $16.91.

Analyst Upgrades and Downgrades

ACAD has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. StockNews.com lowered ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Finally, Raymond James reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, October 10th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.60.

ACADIA Pharmaceuticals Price Performance

The stock has a market cap of $2.79 billion, a PE ratio of 21.47 and a beta of 0.40. The stock’s fifty day moving average is $16.11 and its 200-day moving average is $16.20.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. The business 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 business’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.40) EPS. On average, sell-side analysts expect that ACADIA Pharmaceuticals Inc. will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider James Kihara sold 4,073 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $68,467.13. Following the completion of the transaction, the insider now owns 19,863 shares of the company’s stock, valued at approximately $333,897.03. This trade represents a 17.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark C. Schneyer sold 10,259 shares of the business’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 $172,453.79. Following the completion of the sale, the chief financial officer now directly owns 53,302 shares in the company, valued at approximately $896,006.62. The trade was a 16.14 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,661 shares of company stock valued at $414,551. 28.30% of the stock is currently owned by insiders.

Institutional Trading of ACADIA Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of ACAD. Principal Financial Group Inc. boosted its stake in shares of ACADIA Pharmaceuticals by 67.8% in the third quarter. Principal Financial Group Inc. now owns 129,551 shares of the biopharmaceutical company’s stock valued at $1,992,000 after purchasing an additional 52,340 shares during the period. Geode Capital Management LLC boosted its position in ACADIA Pharmaceuticals by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,875,540 shares of the biopharmaceutical company’s stock valued at $44,234,000 after buying an additional 30,826 shares during the period. Barclays PLC grew its stake in shares of ACADIA Pharmaceuticals by 126.2% in the third quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company’s stock worth $4,269,000 after acquiring an additional 154,854 shares in the last quarter. State Street Corp increased its position in shares of ACADIA Pharmaceuticals by 3.0% during the third quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company’s stock worth $91,878,000 after acquiring an additional 173,084 shares during the period. Finally, Iron Triangle Partners LP purchased a new stake in shares of ACADIA Pharmaceuticals during the third quarter worth $11,535,000. 96.71% of the stock is currently owned by hedge funds and other 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.