ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Get Free Report)’s stock price gapped down before the market opened on Tuesday after Needham & Company LLC lowered their price target on the stock from $36.00 to $32.00. The stock had previously closed at $24.13, but opened at $19.49. Needham & Company LLC currently has a buy rating on the stock. ACADIA Pharmaceuticals shares last traded at $19.54, with a volume of 1,379,563 shares trading hands.
Several other research analysts have also recently issued reports on the company. StockNews.com upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, January 30th. Robert W. Baird initiated coverage on ACADIA Pharmaceuticals in a research note on Tuesday, January 30th. They issued an “outperform” rating and a $40.00 target price on the stock. Stifel Nicolaus lifted their price target on ACADIA Pharmaceuticals from $25.00 to $27.00 and gave the company a “hold” rating in a research report on Monday, December 18th. HC Wainwright restated a “buy” rating and issued a $33.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada lowered their price target on shares of ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $35.16.
Insider Activity
In other ACADIA Pharmaceuticals news, insider James Kihara sold 2,000 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $28.30, for a total value of $56,600.00. Following the transaction, the insider now directly owns 11,025 shares in the company, valued at approximately $312,007.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Stephen Davis sold 3,732 shares of the firm’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $29.96, for a total transaction of $111,810.72. Following the completion of the sale, the chief executive officer now directly owns 96,521 shares of the company’s stock, valued at approximately $2,891,769.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Kihara sold 2,000 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $28.30, for a total transaction of $56,600.00. Following the transaction, the insider now directly owns 11,025 shares of the company’s stock, valued at approximately $312,007.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,500 shares of company stock valued at $391,705. 27.50% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the company. Fisher Asset Management LLC acquired a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth about $4,479,000. Wellington Management Group LLP purchased a new stake in ACADIA Pharmaceuticals during the 4th quarter worth about $1,221,000. Perceptive Advisors LLC acquired a new stake in ACADIA Pharmaceuticals in the fourth quarter valued at approximately $3,162,000. Eventide Asset Management LLC purchased a new position in ACADIA Pharmaceuticals in the fourth quarter worth approximately $25,342,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of ACADIA Pharmaceuticals by 66.6% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 26,380 shares of the biopharmaceutical company’s stock valued at $826,000 after purchasing an additional 10,549 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.
ACADIA Pharmaceuticals Trading Down 18.3 %
The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of -51.42 and a beta of 0.40. The stock’s fifty day moving average price is $26.47 and its two-hundred day moving average price is $25.19.
ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) last issued its earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.04). The business had revenue of $231.04 million for the quarter, compared to analyst estimates of $223.79 million. ACADIA Pharmaceuticals had a negative return on equity of 15.67% and a negative net margin of 8.44%. ACADIA Pharmaceuticals’s revenue was up 69.3% on a year-over-year basis. During the same period last year, the business posted ($0.26) EPS. Analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.64 earnings per share for the current fiscal year.
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.