ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Director Laura Brege Sells 14,446 Shares of Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Director Laura Brege sold 14,446 shares of the firm’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $21.78, for a total value of $314,633.88. Following the completion of the sale, the director now owns 15,095 shares of the company’s stock, valued at approximately $328,769.10. This trade represents a 48.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

ACADIA Pharmaceuticals Trading Up 3.0%

Shares of NASDAQ ACAD opened at $21.98 on Friday. ACADIA Pharmaceuticals Inc. has a 12 month low of $13.40 and a 12 month high of $25.23. The stock has a 50 day moving average of $17.36 and a 200-day moving average of $17.64. The company has a market capitalization of $3.68 billion, a P/E ratio of 28.18 and a beta of 0.47.

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

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Institutional investors have recently modified their holdings of the business. Barclays PLC raised its holdings 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 buying an additional 154,854 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth $272,000. Vanguard Group Inc. increased its holdings in ACADIA Pharmaceuticals by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 13,947,640 shares of the biopharmaceutical company’s stock worth $255,939,000 after purchasing an additional 104,444 shares in the last quarter. Victory Capital Management Inc. increased its holdings in ACADIA Pharmaceuticals by 66.9% in the 4th quarter. Victory Capital Management Inc. now owns 162,125 shares of the biopharmaceutical company’s stock worth $2,975,000 after purchasing an additional 64,995 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in ACADIA Pharmaceuticals by 10.9% in the 4th quarter. Principal Financial Group Inc. now owns 143,694 shares of the biopharmaceutical company’s stock worth $2,637,000 after purchasing an additional 14,143 shares in the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ACAD. Bank of America raised their target price on ACADIA Pharmaceuticals from $18.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday. Cantor Fitzgerald upgraded ACADIA Pharmaceuticals to a “strong-buy” rating in a report on Thursday. Needham & Company LLC lifted their price objective on ACADIA Pharmaceuticals from $27.00 to $30.00 and gave the company a “buy” rating in a report on Monday, May 19th. Morgan Stanley set a $24.00 price objective on ACADIA Pharmaceuticals and gave the company an “equal weight” rating in a report on Tuesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and lifted their target price for the company from $20.00 to $35.00 in a research report on Wednesday, May 21st. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, ACADIA Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $26.79.

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.