ACADIA Pharmaceuticals (NASDAQ:ACAD) Reaches New 52-Week Low - Should You Sell?

Key Points

• ACADIA Pharmaceuticals fell to a new 52-week low of $19.63, down 1.7%, with its market capitalization at approximately $3.41 billion.
• Despite the share-price weakness, analysts remain broadly positive: 14 rate the stock a Buy and four a Hold, producing a “Moderate Buy” consensus and an average price target of $32.76.
• The company reported quarterly earnings of $0.18 per share versus $0.07 expected, while revenue rose 16.4% year over year to $308 million; however, insiders sold 36,699 shares worth about $1.02 million over the past three months.

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report)'s share price reached a new 52-week low on Thursday. The company traded as low as $19.63 and last traded at $19.6850, with a volume of 246780 shares traded. The stock had previously closed at $20.15.

Wall Street Analysts Forecast Growth

ACAD has been the topic of several recent analyst reports. Citizens Jmp dropped their target price on ACADIA Pharmaceuticals from $36.00 to $33.00 and set a "market outperform" rating on the stock in a research report on Friday, September 25th. Deutsche Bank Aktiengesellschaft lowered their price target on ACADIA Pharmaceuticals from $38.00 to $31.00 and set a "buy" rating on the stock in a report on Friday, September 25th. TD Cowen reaffirmed a "buy" rating on shares of ACADIA Pharmaceuticals in a report on Thursday, September 24th. Stifel Nicolaus boosted their target price on ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the stock a "hold" rating in a research report on Tuesday, July 21st. Finally, Oppenheimer reissued a "market perform" rating on shares of ACADIA Pharmaceuticals in a report on Wednesday, September 23rd. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.76.

ACADIA Pharmaceuticals Trading Down 1.7%

The stock has a market cap of $3.41 billion, a price-to-earnings ratio of 8.92 and a beta of 0.86. The firm's 50 day moving average is $27.21 and its two-hundred day moving average is $24.16.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.11. The business had revenue of $308.00 million during the quarter, compared to analyst estimates of $296.55 million. ACADIA Pharmaceuticals had a net margin of 33.42% and a return on equity of 9.03%. The company's revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.16 earnings per share. As a group, equities analysts expect that ACADIA Pharmaceuticals Inc. will post 0.64 EPS for the current fiscal year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Elizabeth Thompson sold 16,558 shares of the business's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $26.13, for a total transaction of $432,660.54. Following the completion of the sale, the executive vice president owned 18,994 shares of the company's stock, valued at approximately $496,313.22. The trade was a 46.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark C. Schneyer sold 14,292 shares of the company's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $29.22, for a total value of $417,612.24. Following the sale, the executive vice president owned 67,828 shares of the company's stock, valued at $1,981,934.16. This represents a 17.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 36,699 shares of company stock valued at $1,019,894 over the last three months. Corporate insiders own 26.20% of the company's stock.

Institutional Trading of ACADIA Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. Cim Investment Management Inc. grew its stake in ACADIA Pharmaceuticals by 7.3% during the second quarter. Cim Investment Management Inc. now owns 15,273 shares of the biopharmaceutical company's stock worth $386,000 after buying an additional 1,034 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter valued at $597,000. Integrated Wealth Concepts LLC purchased a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter valued at $50,000. Baird Financial Group Inc. acquired a new position in shares of ACADIA Pharmaceuticals during the 2nd quarter valued at $232,000. Finally, Nykredit A S purchased a new stake in ACADIA Pharmaceuticals during the 2nd quarter worth $38,000. Institutional investors and hedge funds own 96.71% of the company's stock.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system disorders and rare diseases. The company is headquartered in San Diego, California, and serves patients and healthcare providers primarily in the United States.

ACADIA's commercial products include NUPLAZID (pimavanserin), an atypical antipsychotic approved in the United States for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.

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