ACADIA Pharmaceuticals (NASDAQ:ACAD) Hits New 52-Week Low – Time to Sell?

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) reached a new 52-week low on Tuesday . The company traded as low as $13.87 and last traded at $14.10, with a volume of 1976876 shares. The stock had previously closed at $14.61.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ACAD. Deutsche Bank Aktiengesellschaft began coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They set a “hold” rating and a $22.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research note on Tuesday. Morgan Stanley reiterated an “equal weight” rating and issued a $20.00 price target on shares of ACADIA Pharmaceuticals in a research note on Friday, March 7th. HC Wainwright restated a “buy” rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Finally, StockNews.com raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.93.

ACADIA Pharmaceuticals Stock Down 3.5 %

The business’s 50 day simple moving average is $18.06 and its 200 day simple moving average is $17.04. The company has a market capitalization of $2.35 billion, a PE ratio of 18.08 and a beta of 0.54.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 4,919 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total transaction of $89,673.37. Following the completion of the sale, the director now directly owns 17,595 shares in the company, valued at approximately $320,756.85. This trade represents a 21.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Mark C. Schneyer sold 3,171 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $17.05, for a total transaction of $54,065.55. Following the completion of the sale, the executive vice president now directly owns 56,889 shares of the company’s stock, valued at $969,957.45. This trade represents a 5.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,433 shares of company stock worth $187,319. Corporate insiders own 28.30% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACAD. State Street Corp raised 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 acquiring an additional 173,084 shares in the last quarter. Barclays PLC raised its stake in shares of ACADIA Pharmaceuticals by 126.2% during the 3rd quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company’s stock worth $4,269,000 after purchasing an additional 154,854 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of ACADIA Pharmaceuticals by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,875,540 shares of the biopharmaceutical company’s stock valued at $44,234,000 after buying an additional 30,826 shares during the last quarter. Principal Financial Group Inc. grew its stake 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. Finally, Nordea Investment Management AB increased its holdings in ACADIA Pharmaceuticals by 1.3% in the fourth quarter. Nordea Investment Management AB now owns 264,031 shares of the biopharmaceutical company’s stock worth $4,952,000 after buying an additional 3,516 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.