Insider Selling: ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Insider Sells 4,073 Shares of Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) insider James Kihara sold 4,073 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $68,467.13. Following the completion of the sale, the insider now owns 19,863 shares of the company’s stock, valued at $333,897.03. This trade represents a 17.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

ACADIA Pharmaceuticals Price Performance

ACAD stock traded down $0.82 during midday trading on Tuesday, hitting $16.21. The company’s stock had a trading volume of 1,562,268 shares, compared to its average volume of 1,681,843. The company’s fifty day moving average price is $15.60 and its 200 day moving average price is $15.99. ACADIA Pharmaceuticals Inc. has a twelve month low of $14.15 and a twelve month high of $32.59. The stock has a market capitalization of $2.70 billion, a P/E ratio of 20.78 and a beta of 0.38.

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Raymond James restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, October 10th. Royal Bank of Canada dropped their price target on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. UBS Group cut their target price on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, ACADIA Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $25.56.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Large investors have recently made changes to their positions in the stock. State Street Corp raised its position in ACADIA Pharmaceuticals by 3.0% during the third quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company’s stock worth $91,878,000 after acquiring an additional 173,084 shares in the last quarter. Fred Alger Management LLC increased its stake in shares of ACADIA Pharmaceuticals by 17.8% during the 3rd quarter. Fred Alger Management LLC now owns 3,186,389 shares of the biopharmaceutical company’s stock worth $49,007,000 after purchasing an additional 481,950 shares during the last quarter. Millennium Management LLC raised its holdings in shares of ACADIA Pharmaceuticals by 36.2% in the 2nd quarter. Millennium Management LLC now owns 2,937,714 shares of the biopharmaceutical company’s stock valued at $47,738,000 after purchasing an additional 781,070 shares during the period. D. E. Shaw & Co. Inc. lifted its stake in ACADIA Pharmaceuticals by 11.1% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,934,926 shares of the biopharmaceutical company’s stock valued at $47,693,000 after purchasing an additional 292,906 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in ACADIA Pharmaceuticals by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,875,540 shares of the biopharmaceutical company’s stock worth $44,234,000 after purchasing an additional 30,826 shares during the period. Institutional investors and hedge funds 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.