Insider Selling: ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Insider Sells $22,462.44 in Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) insider James Kihara sold 1,326 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total value of $22,462.44. Following the sale, the insider now directly owns 14,370 shares of the company’s stock, valued at $243,427.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

James Kihara also recently made the following trade(s):

• On Monday, April 8th, James Kihara sold 1,790 shares of ACADIA Pharmaceuticals stock. The shares were sold at an average price of $17.87, for a total transaction of $31,987.30.
• On Monday, February 26th, James Kihara sold 474 shares of ACADIA Pharmaceuticals stock. The shares were sold at an average price of $24.67, for a total transaction of $11,693.58.

ACADIA Pharmaceuticals Trading Down 0.2 %

ACAD opened at $17.05 on Monday. The stock has a market cap of $2.82 billion, a PE ratio of -44.87 and a beta of 0.42. ACADIA Pharmaceuticals Inc. has a 1 year low of $16.16 and a 1 year high of $33.99. The stock’s 50 day simple moving average is $19.15 and its 200-day simple moving average is $23.33.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). The business had revenue of $231.04 million for the quarter, compared to the consensus estimate of $223.79 million. ACADIA Pharmaceuticals had a negative return on equity of 15.67% and a negative net margin of 8.44%. ACADIA Pharmaceuticals’s revenue was up 69.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.26) earnings per share. Equities analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ACAD. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, January 30th. HC Wainwright reaffirmed a “buy” rating and issued a $33.00 price target on shares of ACADIA Pharmaceuticals in a research report on Wednesday, February 28th. Oppenheimer restated a “market perform” rating and issued a $25.00 target price on shares of ACADIA Pharmaceuticals in a report on Monday, February 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $37.00 price target on shares of ACADIA Pharmaceuticals in a report on Tuesday, April 30th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $32.00 price target on shares of ACADIA Pharmaceuticals in a research report on Tuesday, April 9th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.13.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of hedge funds have recently modified their holdings of ACAD. RTW Investments LP grew its position in ACADIA Pharmaceuticals by 18.3% in the third quarter. RTW Investments LP now owns 11,576,537 shares of the biopharmaceutical company’s stock valued at $241,255,000 after acquiring an additional 1,793,288 shares during the period. Fred Alger Management LLC grew its holdings in shares of ACADIA Pharmaceuticals by 38.7% in the 3rd quarter. Fred Alger Management LLC now owns 3,108,883 shares of the biopharmaceutical company’s stock worth $64,789,000 after purchasing an additional 867,818 shares during the last quarter. First Trust Advisors LP lifted its holdings in ACADIA Pharmaceuticals by 9.1% during the 4th quarter. First Trust Advisors LP now owns 1,777,307 shares of the biopharmaceutical company’s stock valued at $55,647,000 after purchasing an additional 148,526 shares during the last quarter. Emerald Advisers LLC boosted its position in ACADIA Pharmaceuticals by 4.0% in the third quarter. Emerald Advisers LLC now owns 1,681,052 shares of the biopharmaceutical company’s stock valued at $35,033,000 after buying an additional 64,100 shares in the last quarter. Finally, Norges Bank bought a new stake in ACADIA Pharmaceuticals during the fourth quarter worth about $45,187,000. 96.71% of the stock is 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.