ACADIA Pharmaceuticals (NASDAQ:ACAD) Hits New 12-Month Low – Should You Sell?

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) shares hit a new 52-week low on Wednesday . The company traded as low as $14.19 and last traded at $14.21, with a volume of 160828 shares changing hands. The stock had previously closed at $14.52.

Wall Street Analyst Weigh In

Several analysts have weighed in on ACAD shares. Cantor Fitzgerald dropped their price target on ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Morgan Stanley cut shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $28.00 to $20.00 in a research note on Wednesday, August 7th. Citigroup reduced their target price on shares of ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Raymond James reaffirmed a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, October 10th. Finally, HC Wainwright reiterated a “buy” rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.56.

ACADIA Pharmaceuticals Price Performance

The business has a fifty day simple moving average of $15.58 and a 200 day simple moving average of $16.13. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of -1,448.00, a PEG ratio of 0.49 and a beta of 0.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data 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. ACADIA Pharmaceuticals had a return on equity of 6.89% and a net margin of 3.43%. The company had revenue of $241.96 million for the quarter, compared to analyst estimates of $235.95 million. During the same quarter last year, the firm posted $0.01 EPS. The firm’s revenue for the quarter was up 46.4% on a year-over-year basis. On average, research analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Brendan Teehan sold 9,534 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $145,679.52. Following the transaction, the chief operating officer now directly owns 52,177 shares in the company, valued at $797,264.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Mark C. Schneyer sold 9,733 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $148,720.24. Following the completion of the sale, the chief financial officer now owns 43,735 shares of the company’s stock, valued at approximately $668,270.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Brendan Teehan sold 9,534 shares of ACADIA Pharmaceuticals stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $145,679.52. Following the transaction, the chief operating officer now directly owns 52,177 shares in the company, valued at $797,264.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,014 shares of company stock worth $779,494. 28.30% of the stock is owned by insiders.

Institutional Trading of ACADIA Pharmaceuticals

Several hedge funds have recently made changes to their positions in ACAD. Hennion & Walsh Asset Management Inc. lifted its holdings in ACADIA Pharmaceuticals by 24.2% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 142,998 shares of the biopharmaceutical company’s stock valued at $2,644,000 after acquiring an additional 27,871 shares during the last quarter. Diversified Trust Co lifted its stake in shares of ACADIA Pharmaceuticals by 6.3% in the 1st quarter. Diversified Trust Co now owns 30,865 shares of the biopharmaceutical company’s stock valued at $571,000 after purchasing an additional 1,826 shares during the last quarter. Privium Fund Management B.V. acquired a new position in shares of ACADIA Pharmaceuticals in the 1st quarter valued at $2,744,000. Capstone Investment Advisors LLC purchased a new position in shares of ACADIA Pharmaceuticals during the 1st quarter worth $211,000. Finally, GSA Capital Partners LLP increased its position in shares of ACADIA Pharmaceuticals by 730.9% during the 1st quarter. GSA Capital Partners LLP now owns 111,394 shares of the biopharmaceutical company’s stock worth $2,060,000 after purchasing an additional 97,987 shares during the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

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.