ACADIA Pharmaceuticals (NASDAQ:ACAD) Insider James Kihara Sells 1,030 Shares of Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) insider James Kihara sold 1,030 shares of the stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $22.20, for a total transaction of $22,866.00. Following the completion of the sale, the insider directly owned 27,865 shares of the company’s stock, valued at approximately $618,603. This trade represents a 3.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

ACADIA Pharmaceuticals Trading Down 1.0%

NASDAQ ACAD opened at $22.09 on Wednesday. The stock has a market cap of $3.77 billion, a PE ratio of 9.65, a P/E/G ratio of 22.07 and a beta of 0.83. ACADIA Pharmaceuticals Inc. has a twelve month low of $13.40 and a twelve month high of $28.35. The stock has a fifty day simple moving average of $22.75 and a 200-day simple moving average of $23.80.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $1.48. The business had revenue of $298.00 million during the quarter, compared to analysts’ expectations of $292.54 million. ACADIA Pharmaceuticals had a return on equity of 12.49% and a net margin of 36.49%.The company’s revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.86 EPS. Research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current year.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its holdings in ACADIA Pharmaceuticals by 67.5% during the 4th quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 386 shares during the period. Meeder Asset Management Inc. purchased a new position in ACADIA Pharmaceuticals in the 4th quarter valued at approximately $26,000. Geneos Wealth Management Inc. boosted its position in ACADIA Pharmaceuticals by 113.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 1,425 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 756 shares during the period. Smartleaf Asset Management LLC boosted its position in ACADIA Pharmaceuticals by 107.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 885 shares during the period. Finally, Transamerica Financial Advisors LLC boosted its position in ACADIA Pharmaceuticals by 304.5% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 1,005 shares during the period. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ACAD. Mizuho raised shares of ACADIA Pharmaceuticals from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $29.00 to $35.00 in a research report on Monday, February 23rd. Piper Sandler set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Tuesday, December 16th. Wolfe Research began coverage on shares of ACADIA Pharmaceuticals in a research report on Monday, February 23rd. They set an “outperform” rating and a $33.00 price objective for the company. Stifel Nicolaus lowered their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $24.00 and set a “hold” rating for the company in a research report on Thursday, February 26th. Finally, Wall Street Zen cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.21.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.