ACADIA Pharmaceuticals (NASDAQ:ACAD) Shares Down 2.9% – Should You Sell?

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)’s share price dropped 2.9% during mid-day trading on Thursday . The stock traded as low as $16.41 and last traded at $16.42. Approximately 65,353 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 1,663,345 shares. The stock had previously closed at $16.91.

Analyst Ratings Changes

A number of analysts have recently commented on ACAD shares. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. StockNews.com lowered shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. 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. Finally, Raymond James restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, October 10th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, ACADIA Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $25.60.

ACADIA Pharmaceuticals Trading Up 0.8 %

The company has a 50 day moving average of $16.20 and a 200 day moving average of $16.21. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of 21.63 and a beta of 0.40.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued 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. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The firm had revenue of $250.40 million during the quarter, compared to the consensus estimate of $248.83 million. During the same quarter in the previous year, the company posted ($0.40) EPS. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider James Kihara sold 4,073 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $68,467.13. Following the transaction, the insider now directly owns 19,863 shares in the company, valued at $333,897.03. This represents a 17.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mark C. Schneyer sold 10,259 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $172,453.79. Following the sale, the chief financial officer now 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 disclosure for this sale can be found here. Insiders sold 24,661 shares of company stock worth $414,551 in the last quarter. Insiders own 28.30% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Large investors have recently bought and sold shares of the company. Principal Financial Group Inc. increased its position in shares of ACADIA Pharmaceuticals by 67.8% in the 3rd quarter. Principal Financial Group Inc. now owns 129,551 shares of the biopharmaceutical company’s stock valued at $1,992,000 after buying an additional 52,340 shares in the last quarter. Geode Capital Management LLC raised its position 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. Barclays PLC grew its position in shares of ACADIA Pharmaceuticals by 126.2% in the 3rd quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company’s stock valued at $4,269,000 after purchasing an additional 154,854 shares during the period. State Street Corp increased its stake in ACADIA Pharmaceuticals by 3.0% during the 3rd quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company’s stock worth $91,878,000 after purchasing an additional 173,084 shares in the last quarter. Finally, Iron Triangle Partners LP acquired a new position in shares of ACADIA Pharmaceuticals in the third quarter valued at approximately $11,535,000. Institutional investors 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.