ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock Price Down 4.1% – Should You Sell?

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) were down 4.1% on Tuesday . The stock traded as low as $16.25 and last traded at $16.34. Approximately 277,947 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 1,676,110 shares. The stock had previously closed at $17.03.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ACAD shares. StockNews.com downgraded shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Citigroup reduced their price objective on shares of ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada reduced their price objective on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Morgan Stanley downgraded shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $28.00 to $20.00 in a research note on Wednesday, August 7th. Finally, UBS Group reduced their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.56.

ACADIA Pharmaceuticals Stock Down 4.8 %

The business’s 50-day moving average price is $15.59 and its 200-day moving average price is $15.99. The firm has a market capitalization of $2.70 billion, a PE ratio of 21.83 and a beta of 0.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The business had revenue of $250.40 million during the quarter, compared to analyst estimates of $248.83 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The firm’s revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.40) earnings per share. On average, analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.72 EPS for the current fiscal year.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACAD. M&G Plc raised its position in shares of ACADIA Pharmaceuticals by 12.4% in the second quarter. M&G Plc now owns 351,115 shares of the biopharmaceutical company’s stock valued at $5,618,000 after purchasing an additional 38,790 shares during the period. Fred Alger Management LLC raised its holdings in ACADIA Pharmaceuticals by 19.8% during the 2nd quarter. Fred Alger Management LLC now owns 2,704,439 shares of the biopharmaceutical company’s stock worth $43,947,000 after purchasing an additional 446,875 shares during the last quarter. US Bancorp DE grew its position in shares of ACADIA Pharmaceuticals by 2,084.0% during the 3rd quarter. US Bancorp DE now owns 32,934 shares of the biopharmaceutical company’s stock worth $507,000 after buying an additional 31,426 shares during the period. Sei Investments Co. grew its position in shares of ACADIA Pharmaceuticals by 6.2% in the 1st quarter. Sei Investments Co. now owns 34,752 shares of the biopharmaceutical company’s stock valued at $642,000 after purchasing an additional 2,034 shares during the period. Finally, Hohimer Wealth Management LLC boosted its position in ACADIA Pharmaceuticals by 828.8% during the 2nd quarter. Hohimer Wealth Management LLC now owns 159,133 shares of the biopharmaceutical company’s stock worth $2,586,000 after acquiring an additional 142,000 shares during the last quarter. 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.