ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Price Down 6.9% – Time to Sell?

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) shares fell 6.9% on Tuesday . The stock traded as low as $16.64 and last traded at $16.67. 1,724,583 shares traded hands during trading, a decline of 74% from the average session volume of 6,695,666 shares. The stock had previously closed at $17.90.

Analyst Ratings Changes

Several brokerages have commented on ACAD. Guggenheim cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their price target for the company from $23.00 to $20.00 in a research report on Friday, January 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. HC Wainwright reissued a “buy” rating and set a $27.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. Raymond James restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, October 10th. Finally, StockNews.com cut ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $25.25.

ACADIA Pharmaceuticals Trading Up 0.1 %

The firm’s fifty day moving average price is $17.23 and its 200-day moving average price is $16.52. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 22.46 and a beta of 0.37.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.06. The company had revenue of $250.40 million during the quarter, compared to the consensus estimate of $248.83 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. ACADIA Pharmaceuticals’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.40) earnings per share. On average, sell-side analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

Insider Activity at ACADIA Pharmaceuticals

In other news, CFO Mark C. Schneyer sold 10,259 shares of ACADIA Pharmaceuticals stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $172,453.79. Following the transaction, the chief financial officer now directly owns 53,302 shares of the company’s stock, valued at $896,006.62. The trade was a 16.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Brendan Teehan sold 10,329 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $173,630.49. Following the sale, the chief operating officer now owns 62,105 shares of the company’s stock, valued at approximately $1,043,985.05. This represents a 14.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,661 shares of company stock valued at $414,551 in the last three months. 28.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. State Street Corp grew its holdings in shares of ACADIA Pharmaceuticals by 3.0% during the third quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company’s stock worth $91,878,000 after buying an additional 173,084 shares during the last quarter. Fred Alger Management LLC grew its stake in shares of ACADIA Pharmaceuticals by 17.8% in the 3rd quarter. Fred Alger Management LLC now owns 3,186,389 shares of the biopharmaceutical company’s stock valued at $49,007,000 after purchasing an additional 481,950 shares during the last quarter. Millennium Management LLC increased its holdings in shares of ACADIA Pharmaceuticals by 36.2% in the second quarter. Millennium Management LLC now owns 2,937,714 shares of the biopharmaceutical company’s stock valued at $47,738,000 after purchasing an additional 781,070 shares during the period. D. E. Shaw & Co. Inc. raised its stake in shares of ACADIA Pharmaceuticals by 11.1% during the second quarter. D. E. Shaw & Co. Inc. now owns 2,934,926 shares of the biopharmaceutical company’s stock worth $47,693,000 after purchasing an additional 292,906 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of ACADIA Pharmaceuticals by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,875,540 shares of the biopharmaceutical company’s stock worth $44,234,000 after purchasing an additional 30,826 shares during the period. 96.71% of the stock is currently owned by institutional investors and hedge funds.

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.