ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Price Down 4%

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)’s share price traded down 4% during trading on Tuesday . The company traded as low as $15.52 and last traded at $15.64. 85,365 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 1,718,998 shares. The stock had previously closed at $16.29.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Cantor Fitzgerald dropped their target price on ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Citigroup dropped their target price on ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada dropped their target price on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. StockNews.com upgraded ACADIA Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, September 13th. Finally, UBS Group dropped their target price on ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.56.

ACADIA Pharmaceuticals Trading Down 5.4 %

The stock has a 50-day simple moving average of $16.78 and a two-hundred day simple moving average of $16.74. The firm has a market capitalization of $2.55 billion, a P/E ratio of -1,550.00, a price-to-earnings-growth ratio of 0.53 and a beta of 0.40.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. The business had revenue of $241.96 million during the quarter, compared to analyst estimates of $235.95 million. ACADIA Pharmaceuticals had a return on equity of 6.89% and a net margin of 3.43%. ACADIA Pharmaceuticals’s revenue was up 46.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 EPS. As a group, research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.52 EPS for the current year.

Insider Transactions at ACADIA Pharmaceuticals

In other news, COO Brendan Teehan sold 9,534 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $145,679.52. Following the completion of the transaction, the chief operating officer now directly owns 52,177 shares of the company’s stock, valued at approximately $797,264.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Mark C. Schneyer sold 9,733 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $148,720.24. Following the completion of the transaction, the chief financial officer now directly owns 43,735 shares of the company’s stock, valued at approximately $668,270.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Brendan Teehan sold 9,534 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $145,679.52. Following the completion of the transaction, the chief operating officer now directly owns 52,177 shares of the company’s stock, valued at $797,264.56. The disclosure for this sale can be found here. In the last three months, insiders sold 51,014 shares of company stock valued at $779,494. Corporate insiders own 28.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC purchased a new position in ACADIA Pharmaceuticals during the 2nd quarter worth $1,535,000. Truist Financial Corp grew its stake in ACADIA Pharmaceuticals by 16.0% during the 2nd quarter. Truist Financial Corp now owns 50,006 shares of the biopharmaceutical company’s stock worth $813,000 after buying an additional 6,887 shares during the last quarter. Stonepine Capital Management LLC purchased a new position in ACADIA Pharmaceuticals during the 2nd quarter worth $81,000. Quarry LP grew its stake in ACADIA Pharmaceuticals by 34.3% during the 2nd quarter. Quarry LP now owns 8,055 shares of the biopharmaceutical company’s stock worth $131,000 after buying an additional 2,055 shares during the last quarter. Finally, Capital Impact Advisors LLC grew its stake in ACADIA Pharmaceuticals by 153.4% during the 2nd quarter. Capital Impact Advisors LLC now owns 24,540 shares of the biopharmaceutical company’s stock worth $399,000 after buying an additional 14,854 shares during the last quarter. 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.