ACADIA Pharmaceuticals (NASDAQ:ACAD) Hits New 12-Month Low Following Analyst Downgrade

ACADIA Pharmaceuticals Inc. (NASDAQ:ACADGet Free Report)’s stock price hit a new 52-week low during mid-day trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $29.00 to $25.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. ACADIA Pharmaceuticals traded as low as $17.56 and last traded at $17.80, with a volume of 881301 shares trading hands. The stock had previously closed at $17.95.

ACAD has been the subject of a number of other research reports. Needham & Company LLC lowered their price target on ACADIA Pharmaceuticals from $36.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, March 12th. Cantor Fitzgerald reissued an “overweight” rating and set a $42.00 target price on shares of ACADIA Pharmaceuticals in a research note on Wednesday, February 28th. TheStreet upgraded shares of ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a research note on Tuesday, February 27th. JMP Securities reiterated a “market outperform” rating and set a $42.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Wednesday, February 7th. Finally, Royal Bank of Canada dropped their price objective on shares of ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.12.

Get Our Latest Research Report on ACAD

Insider Transactions at ACADIA Pharmaceuticals

In related news, CEO Stephen Davis sold 3,732 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, January 8th. The shares were sold at an average price of $29.96, for a total transaction of $111,810.72. Following the completion of the transaction, the chief executive officer now owns 96,521 shares of the company’s stock, valued at $2,891,769.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have sold 12,500 shares of company stock worth $335,105. Company insiders own 27.50% of the company’s stock.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Quest Partners LLC bought a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $39,000. KBC Group NV acquired a new position in shares of ACADIA Pharmaceuticals during the fourth quarter valued at about $83,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth about $100,000. Lazard Asset Management LLC grew its stake in shares of ACADIA Pharmaceuticals by 35.8% in the 2nd quarter. Lazard Asset Management LLC now owns 4,125 shares of the biopharmaceutical company’s stock valued at $98,000 after buying an additional 1,088 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of ACADIA Pharmaceuticals by 97.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,202 shares of the biopharmaceutical company’s stock valued at $88,000 after buying an additional 2,070 shares during the period. 96.71% of the stock is owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Trading Down 0.3 %

The business has a 50-day moving average of $24.05 and a 200 day moving average of $24.52. The firm has a market capitalization of $2.93 billion, a P/E ratio of -46.81 and a beta of 0.40.

ACADIA Pharmaceuticals (NASDAQ:ACADGet Free Report) last issued its earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). ACADIA Pharmaceuticals had a negative return on equity of 15.67% and a negative net margin of 8.44%. The firm had revenue of $231.04 million for the quarter, compared to analyst estimates of $223.79 million. During the same period in the previous year, the company earned ($0.26) earnings per share. ACADIA Pharmaceuticals’s revenue for the quarter was up 69.3% compared to the same quarter last year. As a group, research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.64 EPS for the current year.

About ACADIA Pharmaceuticals

(Get Free Report)

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.

See Also

Receive News & Ratings for ACADIA Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ACADIA Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.