ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) COO Brendan Teehan Sells 3,477 Shares

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) COO Brendan Teehan sold 3,477 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total value of $58,900.38. Following the completion of the sale, the chief operating officer now directly owns 42,133 shares of the company’s stock, valued at $713,733.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Brendan Teehan also recently made the following trade(s):

• On Monday, April 8th, Brendan Teehan sold 2,568 shares of ACADIA Pharmaceuticals stock. The shares were sold at an average price of $17.87, for a total transaction of $45,890.16.
• On Wednesday, March 27th, Brendan Teehan sold 5,140 shares of ACADIA Pharmaceuticals stock. The stock was sold at an average price of $17.90, for a total transaction of $92,006.00.
• On Monday, February 26th, Brendan Teehan sold 624 shares of ACADIA Pharmaceuticals stock. The shares were sold at an average price of $24.67, for a total transaction of $15,394.08.

ACADIA Pharmaceuticals Stock Down 0.2 %

Shares of NASDAQ ACAD opened at $17.05 on Monday. The company has a market cap of $2.82 billion, a price-to-earnings ratio of -44.87 and a beta of 0.42. ACADIA Pharmaceuticals Inc. has a 12-month low of $16.16 and a 12-month high of $33.99. The firm’s 50-day simple moving average is $19.15 and its 200 day simple moving average is $23.33.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The company had revenue of $231.04 million during the quarter, compared to analyst estimates of $223.79 million. During the same period in the prior year, the business earned ($0.26) EPS. The business’s revenue for the quarter was up 69.3% on a year-over-year basis. On average, equities analysts expect that ACADIA Pharmaceuticals Inc. will post 0.62 earnings per share for the current year.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the company. RTW Investments LP raised its stake in shares of ACADIA Pharmaceuticals by 18.3% during the third quarter. RTW Investments LP now owns 11,576,537 shares of the biopharmaceutical company’s stock worth $241,255,000 after buying an additional 1,793,288 shares during the last quarter. Norges Bank bought a new position in shares of ACADIA Pharmaceuticals in the 4th quarter worth $45,187,000. Fred Alger Management LLC grew its stake in shares of ACADIA Pharmaceuticals by 38.7% during the third quarter. Fred Alger Management LLC now owns 3,108,883 shares of the biopharmaceutical company’s stock worth $64,789,000 after purchasing an additional 867,818 shares during the period. Eventide Asset Management LLC bought a new stake in ACADIA Pharmaceuticals in the fourth quarter valued at about $25,342,000. Finally, M&G Investment Management Ltd. acquired a new position in ACADIA Pharmaceuticals in the fourth quarter valued at about $10,349,000. Institutional investors own 96.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on ACAD. Royal Bank of Canada cut their price target on ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. JPMorgan Chase & Co. reduced their target price on ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, March 25th. Mizuho lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their price target for the company from $39.00 to $25.00 in a report on Tuesday, March 12th. Morgan Stanley reduced their price objective on shares of ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, March 13th. Finally, HC Wainwright reissued a “buy” rating and issued a $33.00 target price on shares of ACADIA Pharmaceuticals in a research note on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.13.

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.