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 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 sale, the insider now directly owns 19,863 shares in the company, valued at $333,897.03. This represents a 17.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

ACADIA Pharmaceuticals Price Performance

Shares of ACADIA Pharmaceuticals stock opened at $16.27 on Thursday. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 20.86 and a beta of 0.38. The business has a fifty day simple moving average of $15.61 and a two-hundred day simple moving average of $15.99. ACADIA Pharmaceuticals Inc. has a 1 year low of $14.15 and a 1 year high of $32.59.

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, beating analysts’ consensus estimates of $0.14 by $0.06. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The firm had revenue of $250.40 million for the quarter, compared to analysts’ expectations of $248.83 million. During the same quarter in the previous year, the business posted ($0.40) earnings per share. The business’s revenue for the quarter was up 18.3% on a year-over-year basis. As a group, equities analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in ACAD. Park Place Capital Corp purchased a new position in shares of ACADIA Pharmaceuticals during the 3rd quarter valued at $25,000. Values First Advisors Inc. bought a new position in ACADIA Pharmaceuticals during the 3rd quarter worth approximately $27,000. Covestor Ltd lifted its holdings in ACADIA Pharmaceuticals by 70.5% in the 1st quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 840 shares during the period. Quest Partners LLC lifted its holdings in ACADIA Pharmaceuticals by 42.3% in the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after buying an additional 1,047 shares during the period. Finally, Stonepine Capital Management LLC purchased a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter valued at approximately $81,000. 96.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Morgan Stanley downgraded shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $28.00 to $20.00 in a research note on Wednesday, August 7th. StockNews.com lowered shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. UBS Group dropped their price target on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Cantor Fitzgerald decreased their price target on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Finally, Royal Bank of Canada dropped their price target on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $25.56.

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.