Insider Selling: ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CEO Sells 11,427 Shares of Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CEO Stephen Davis sold 11,427 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total transaction of $193,573.38. Following the sale, the chief executive officer now owns 155,231 shares in the company, valued at approximately $2,629,613.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Stephen Davis also recently made the following trade(s):

• On Monday, April 8th, Stephen Davis sold 26,574 shares of ACADIA Pharmaceuticals stock. The stock was sold at an average price of $17.87, for a total transaction of $474,877.38.
• On Wednesday, March 27th, Stephen Davis sold 17,714 shares of ACADIA Pharmaceuticals stock. The shares were sold at an average price of $17.90, for a total value of $317,080.60.
• On Monday, February 26th, Stephen Davis sold 5,577 shares of ACADIA Pharmaceuticals stock. The stock was sold at an average price of $24.67, for a total value of $137,584.59.

ACADIA Pharmaceuticals Price Performance

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

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

Analysts Set New Price Targets

ACAD has been the subject of a number of recent analyst reports. Morgan Stanley cut their price objective on ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, March 13th. Royal Bank of Canada reduced their price objective on shares of ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. JPMorgan Chase & Co. decreased their price objective on shares of ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, March 25th. Oppenheimer reissued a “market perform” rating and set a $25.00 target price on shares of ACADIA Pharmaceuticals in a research note on Monday, February 5th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $33.00 price target on shares of ACADIA Pharmaceuticals in a research note on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $32.13.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of hedge funds have recently modified their holdings of the company. Quest Partners LLC purchased a new stake in ACADIA Pharmaceuticals in the fourth quarter valued at $39,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at about $100,000. China Universal Asset Management Co. Ltd. lifted its position in ACADIA Pharmaceuticals by 97.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 4,202 shares of the biopharmaceutical company’s stock valued at $88,000 after buying an additional 2,070 shares during the last quarter. Legato Capital Management LLC purchased a new position in ACADIA Pharmaceuticals during the fourth quarter worth about $206,000. Finally, Old Well Partners LLC acquired a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter valued at about $257,000. 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.