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

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) fell 2.9% during trading on Thursday . The stock traded as low as $16.41 and last traded at $16.42. 65,353 shares were traded during trading, a decline of 96% from the average session volume of 1,663,345 shares. The stock had previously closed at $16.91.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ACAD shares. Raymond James restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 10th. StockNews.com cut ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $25.60.

ACADIA Pharmaceuticals Stock Down 0.9 %

The firm has a market cap of $2.79 billion, a PE ratio of 21.47 and a beta of 0.40. The business has a 50 day simple moving average of $16.11 and a two-hundred day simple moving average of $16.20.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.06. The company 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 firm’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.40) EPS. Equities analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.73 earnings per share for the current year.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 10,329 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $173,630.49. Following the sale, the chief operating officer now owns 62,105 shares of the company’s stock, valued at approximately $1,043,985.05. This trade represents a 14.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James Kihara sold 4,073 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $68,467.13. Following the completion of the transaction, the insider now directly owns 19,863 shares of the company’s stock, valued at approximately $333,897.03. The trade was a 17.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,661 shares of company stock worth $414,551 over the last three months. 28.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of ACADIA Pharmaceuticals during the third quarter worth $483,000. Fred Alger Management LLC grew its stake in 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 buying an additional 446,875 shares during the last quarter. US Bancorp DE increased its position in ACADIA Pharmaceuticals by 2,084.0% during the 3rd quarter. US Bancorp DE now owns 32,934 shares of the biopharmaceutical company’s stock valued at $507,000 after buying an additional 31,426 shares in the last quarter. BNP Paribas Financial Markets raised its stake in ACADIA Pharmaceuticals by 259.0% in the third quarter. BNP Paribas Financial Markets now owns 223,618 shares of the biopharmaceutical company’s stock valued at $3,439,000 after buying an additional 161,331 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in ACADIA Pharmaceuticals by 67.8% in the third quarter. Principal Financial Group Inc. now owns 129,551 shares of the biopharmaceutical company’s stock worth $1,992,000 after acquiring an additional 52,340 shares in the last quarter. Institutional investors own 96.71% of the company’s stock.

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.