ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Get Free Report) reached a new 52-week low during 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 traded. The stock had previously closed at $17.95.
A number of other analysts have also recently issued reports on ACAD. Morgan Stanley reduced their target price on shares of ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, March 13th. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, January 30th. Citigroup initiated coverage on shares of ACADIA Pharmaceuticals in a research report on Wednesday, December 13th. They issued a “buy” rating and a $38.00 price target on the stock. JMP Securities reissued a “market outperform” rating and set a $42.00 target price on shares of ACADIA Pharmaceuticals in a research report on Wednesday, February 7th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on ACADIA Pharmaceuticals in a research report on Tuesday, December 12th. They set a “buy” rating and a $25.00 target price on the stock. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.12.
Insider Activity
In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 5,577 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $24.67, for a total transaction of $137,584.59. Following the completion of the sale, the chief executive officer now owns 101,890 shares in the company, valued at approximately $2,513,626.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 12,500 shares of company stock worth $335,105 in the last quarter. 27.50% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On ACADIA Pharmaceuticals
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quest Partners LLC bought a new position in ACADIA Pharmaceuticals in the 4th quarter worth approximately $39,000. KBC Group NV purchased a new position in ACADIA Pharmaceuticals in the 4th quarter valued at approximately $83,000. China Universal Asset Management Co. Ltd. grew its position in shares of ACADIA Pharmaceuticals by 97.1% during 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 purchasing an additional 2,070 shares in the last quarter. State of Wyoming purchased a new position in shares of ACADIA Pharmaceuticals during the 4th quarter valued at $92,000. Finally, Lazard Asset Management LLC grew its position in shares of ACADIA Pharmaceuticals by 35.8% during the 2nd quarter. Lazard Asset Management LLC now owns 4,125 shares of the biopharmaceutical company’s stock valued at $98,000 after purchasing an additional 1,088 shares in the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.
ACADIA Pharmaceuticals Stock Performance
The business’s 50-day moving average price is $24.49 and its 200 day moving average price is $24.64. The stock has a market capitalization of $2.94 billion, a PE ratio of -46.76 and a beta of 0.40.
ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share (EPS) 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 company had revenue of $231.04 million for the quarter, compared to the consensus estimate of $223.79 million. During the same period in the prior year, the firm posted ($0.26) earnings per share. The business’s revenue was up 69.3% on a year-over-year basis. As a group, equities research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.64 earnings per share for the current year.
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.