James Kihara Sells 4,000 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) insider James Kihara sold 4,000 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $22.50, for a total value of $90,000.00. Following the transaction, the insider now owns 20,395 shares of the company’s stock, valued at $458,887.50. This represents a 16.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, May 2nd, James Kihara sold 1,327 shares of ACADIA Pharmaceuticals stock. The stock was sold at an average price of $14.60, for a total transaction of $19,374.20.
• On Tuesday, April 8th, James Kihara sold 1,028 shares of ACADIA Pharmaceuticals stock. The shares were sold at an average price of $14.82, for a total transaction of $15,234.96.
• On Wednesday, March 26th, James Kihara sold 1,095 shares of ACADIA Pharmaceuticals stock. The stock was sold at an average price of $17.05, for a total transaction of $18,669.75.
• On Monday, February 24th, James Kihara sold 475 shares of ACADIA Pharmaceuticals stock. The stock was sold at an average price of $19.96, for a total value of $9,481.00.

ACADIA Pharmaceuticals Stock Down 1.2%

ACAD stock traded down $0.27 during midday trading on Monday, reaching $21.99. The stock had a trading volume of 4,053,965 shares, compared to its average volume of 1,928,461. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of 28.19 and a beta of 0.47. ACADIA Pharmaceuticals Inc. has a twelve month low of $13.40 and a twelve month high of $25.23. The business has a fifty day simple moving average of $16.01 and a two-hundred day simple moving average of $17.16.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. The company had revenue of $244.32 million during the quarter, compared to analysts’ expectations of $239.32 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. ACADIA Pharmaceuticals’s revenue was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.10 EPS. On average, equities analysts predict that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of ACADIA Pharmaceuticals by 9.0% during the 1st quarter. Vanguard Group Inc. now owns 15,203,234 shares of the biopharmaceutical company’s stock valued at $252,526,000 after acquiring an additional 1,255,594 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of ACADIA Pharmaceuticals in the 1st quarter worth $60,845,000. Fred Alger Management LLC grew its stake in shares of ACADIA Pharmaceuticals by 2.0% during the first quarter. Fred Alger Management LLC now owns 2,769,828 shares of the biopharmaceutical company’s stock worth $46,007,000 after purchasing an additional 54,899 shares during the period. First Trust Advisors LP increased its holdings in ACADIA Pharmaceuticals by 27.0% in the fourth quarter. First Trust Advisors LP now owns 2,700,125 shares of the biopharmaceutical company’s stock valued at $49,547,000 after purchasing an additional 574,251 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in ACADIA Pharmaceuticals by 380.3% in the fourth quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company’s stock valued at $45,576,000 after buying an additional 1,966,607 shares during the period. 96.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Mizuho increased their target price on ACADIA Pharmaceuticals from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday. StockNews.com lowered ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, May 12th. Needham & Company LLC lifted their price target on ACADIA Pharmaceuticals from $27.00 to $30.00 and gave the company a “buy” rating in a report on Monday. Finally, Oppenheimer reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Friday. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $25.42.

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.