ACADIA Pharmaceuticals (NASDAQ:ACAD) Hits New 12-Month Low at $16.60

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report)'s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $16.60 and last traded at $17.08, with a volume of 57720 shares changing hands. The stock had previously closed at $16.89.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ACAD shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $32.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Tuesday, April 9th. Royal Bank of Canada lowered their price objective on shares of ACADIA Pharmaceuticals from $36.00 to $35.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 28th. Robert W. Baird started coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, January 30th. They issued an "outperform" rating and a $40.00 price objective on the stock. TheStreet raised shares of ACADIA Pharmaceuticals from a "d" rating to a "c" rating in a research note on Tuesday, February 27th. Finally, StockNews.com upgraded shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Tuesday, January 30th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $35.82.

ACADIA Pharmaceuticals Stock Up 1.1 %

The company has a market cap of $2.81 billion, a P/E ratio of -44.95 and a beta of 0.37. The stock's 50-day moving average price is $21.36 and its 200 day moving average price is $23.84.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its earnings results 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 last year, the firm posted ($0.26) EPS. The company's revenue 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.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 26,574 shares of the business's stock in a transaction on Monday, April 8th. The shares were sold at an average price of $17.87, for a total value of $474,877.38. Following the sale, the chief executive officer now owns 144,267 shares of the company's stock, valued at approximately $2,578,051.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Stephen Davis sold 26,574 shares of the business's stock in a transaction on Monday, April 8th. The shares were sold at an average price of $17.87, for a total value of $474,877.38. Following the sale, the chief executive officer now owns 144,267 shares in the company, valued at approximately $2,578,051.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Brendan Teehan sold 2,568 shares of the company's stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $17.87, for a total transaction of $45,890.16. Following the transaction, the chief operating officer now owns 38,796 shares in the company, valued at approximately $693,284.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,383 shares of company stock valued at $1,291,362. 27.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACAD. Empire Life Investments Inc. increased its stake in shares of ACADIA Pharmaceuticals by 0.3% in the 4th quarter. Empire Life Investments Inc. now owns 174,815 shares of the biopharmaceutical company's stock valued at $5,473,000 after acquiring an additional 467 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of ACADIA Pharmaceuticals by 0.5% in the 3rd quarter. Legal & General Group Plc now owns 115,494 shares of the biopharmaceutical company's stock valued at $2,407,000 after buying an additional 574 shares during the last quarter. Amalgamated Bank lifted its holdings in ACADIA Pharmaceuticals by 3.2% during the 4th quarter. Amalgamated Bank now owns 19,880 shares of the biopharmaceutical company's stock valued at $316,000 after purchasing an additional 622 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in ACADIA Pharmaceuticals by 2.3% during the 4th quarter. Handelsbanken Fonder AB now owns 31,633 shares of the biopharmaceutical company's stock valued at $990,000 after purchasing an additional 700 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in ACADIA Pharmaceuticals by 1.6% during the 4th quarter. Franklin Resources Inc. now owns 50,405 shares of the biopharmaceutical company's stock worth $1,578,000 after buying an additional 803 shares during the period. 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.