ACADIA Pharmaceuticals (NASDAQ:ACAD) Sets New 1-Year Low on Insider Selling

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $17.55 and last traded at $17.64, with a volume of 50620 shares trading hands. The stock had previously closed at $18.15.

Specifically, CEO Stephen Davis sold 5,577 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $24.67, for a total value of $137,584.59. Following the sale, the chief executive officer now directly owns 101,890 shares in the company, valued at approximately $2,513,626.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Brendan Teehan sold 2,568 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $17.87, for a total value of $45,890.16. Following the sale, the chief operating officer now directly owns 38,796 shares in the company, valued at approximately $693,284.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen Davis sold 5,577 shares of the stock in a transaction that occurred 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 $2,513,626.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,383 shares of company stock worth $1,291,362. Company insiders own 27.50% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. TheStreet upgraded shares of ACADIA Pharmaceuticals from a "d" rating to a "c" rating in a research report on Tuesday, February 27th. Mizuho cut ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $39.00 to $25.00 in a research note on Tuesday, March 12th. JMP Securities reissued a "market outperform" rating and set a $42.00 target price on shares of ACADIA Pharmaceuticals in a research note on Wednesday, February 7th. Stifel Nicolaus increased their target price on ACADIA Pharmaceuticals from $25.00 to $27.00 and gave the stock a "hold" rating in a research note on Monday, December 18th. Finally, Oppenheimer reissued a "market perform" rating and set a $25.00 target price on shares of ACADIA Pharmaceuticals in a research note on Monday, February 5th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $35.82.

ACADIA Pharmaceuticals Stock Performance

The firm has a fifty day simple moving average of $22.20 and a 200-day simple moving average of $24.05. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of -46.61 and a beta of 0.37.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.04). ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The business had revenue of $231.04 million for the quarter, compared to analyst estimates of $223.79 million. During the same period in the prior year, the business earned ($0.26) EPS. The company's revenue for the quarter was up 69.3% compared to the same quarter last year. Analysts expect that ACADIA Pharmaceuticals Inc. will post 0.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. Quest Partners LLC acquired a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth $39,000. KBC Group NV acquired a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth $83,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of ACADIA Pharmaceuticals by 97.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 4,202 shares of the biopharmaceutical company's stock worth $88,000 after buying an additional 2,070 shares in the last quarter. State of Wyoming acquired a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth $92,000. Finally, Lazard Asset Management LLC lifted its holdings in shares of ACADIA Pharmaceuticals by 35.8% during the second quarter. Lazard Asset Management LLC now owns 4,125 shares of the biopharmaceutical company's stock worth $98,000 after buying an additional 1,088 shares in the last quarter. Institutional investors and hedge funds 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.