Acadia Pharmaceuticals Inc. (ACAD) Stock Price Down 2.6%

acadia-pharmaceuticals-inc-acad-stock-price-down-26.jpg

Shares of Acadia Pharmaceuticals Inc. (NASDAQ:ACAD) dropped 2.6% on Wednesday . The company traded as low as $34.47 and last traded at $35.05, with a volume of 1,704,356 shares traded. The stock had previously closed at $35.98.
ACAD has been the subject of a number of recent analyst reports. Vetr upgraded Acadia Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $45.04 price target for the company in a report on Monday, June 13th. Piper Jaffray Cos. reissued an “overweight” rating and set a $44.00 price objective on shares of Acadia Pharmaceuticals in a research report on Monday, August 8th. Needham & Company LLC reissued a “buy” rating and set a $49.00 price objective on shares of Acadia Pharmaceuticals in a research report on Friday, August 5th. Aegis cut shares of Acadia Pharmaceuticals from a “buy” rating to a “hold” rating and cut their price objective for the stock from $54.00 to $41.00 in a research report on Friday, August 5th. They noted that the move was a valuation call. Finally, Cowen and Company reissued an “outperform” rating and set a $42.00 price objective on shares of Acadia Pharmaceuticals in a research report on Tuesday, July 26th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $45.80.
The stock’s market cap is $4.06 billion. The company has a 50-day moving average of $33.31 and a 200-day moving average of $32.05.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/acadia-pharmaceuticals-inc-acad-stock-price-down-2-6.html

Acadia Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by $0.14. The firm earned $0.97 million during the quarter, compared to the consensus estimate of $0.71 million. Acadia Pharmaceuticals had a negative return on equity of 64.25% and a negative net margin of 131,066.23%. The company’s quarterly revenue was up 96900.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.39) EPS. Equities analysts forecast that Acadia Pharmaceuticals Inc. will post ($2.15) earnings per share for the current year.
In other news, Director Edmund Harrigan bought 1,000 shares of the company’s stock in a transaction dated Tuesday, August 16th. The shares were purchased at an average price of $32.97 per share, for a total transaction of $32,970.00. Following the completion of the purchase, the director now owns 1,000 shares in the company, valued at approximately $32,970. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Bros. Advisors Lp Baker bought 1,303,030 shares of the company’s stock in a transaction dated Wednesday, August 10th. The stock was purchased at an average price of $33.00 per share, for a total transaction of $42,999,990.00. The disclosure for this purchase can be found here. 21.65% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC increased its position in shares of Acadia Pharmaceuticals by 1,529.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,205 shares of the biopharmaceutical company’s stock valued at $136,000 after buying an additional 3,947 shares in the last quarter. Winslow Evans & Crocker Inc. increased its position in shares of Acadia Pharmaceuticals by 120.0% in the second quarter. Winslow Evans & Crocker Inc. now owns 4,400 shares of the biopharmaceutical company’s stock valued at $143,000 after buying an additional 2,400 shares in the last quarter. BlackRock Inc. increased its position in shares of Acadia Pharmaceuticals by 139.5% in the first quarter. BlackRock Inc. now owns 5,414 shares of the biopharmaceutical company’s stock valued at $152,000 after buying an additional 3,153 shares in the last quarter. IFP Advisors Inc increased its position in shares of Acadia Pharmaceuticals by 28.7% in the first quarter. IFP Advisors Inc now owns 5,468 shares of the biopharmaceutical company’s stock valued at $153,000 after buying an additional 1,219 shares in the last quarter. Finally, Pacad Investment Ltd. purchased a new position in shares of Acadia Pharmaceuticals during the second quarter valued at about $198,000. Hedge funds and other institutional investors own 92.10% of the company’s stock.
About Acadia Pharmaceuticals
ACADIA Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system disorders. The Company’s lead drug candidate, NUPLAZID (pimavanserin), is under development for the treatment of Parkinson’s disease psychosis (PDP).

Receive News & Ratings for Acadia Pharmaceuticals Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Acadia Pharmaceuticals Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.

Be the first to comment on "Acadia Pharmaceuticals Inc. (ACAD) Stock Price Down 2.6%"

Leave a comment

Your email address will not be published.

*