Insider Selling: ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CEO Sells $193,573.38 in Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CEO Stephen Davis sold 11,427 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total transaction of $193,573.38. Following the sale, the chief executive officer now owns 155,231 shares in the company, valued at $2,629,613.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Stephen Davis also recently made the following trade(s):

• On Monday, April 8th, Stephen Davis sold 26,574 shares of ACADIA Pharmaceuticals stock. The shares were sold at an average price of $17.87, for a total value of $474,877.38.
• On Wednesday, March 27th, Stephen Davis sold 17,714 shares of ACADIA Pharmaceuticals stock. The stock was sold at an average price of $17.90, for a total value of $317,080.60.
• On Monday, February 26th, Stephen Davis sold 5,577 shares of ACADIA Pharmaceuticals stock. The shares were sold at an average price of $24.67, for a total value of $137,584.59.

ACADIA Pharmaceuticals Stock Performance

NASDAQ ACAD opened at $17.05 on Monday. The firm’s fifty day moving average is $19.15 and its two-hundred day moving average is $23.33. ACADIA Pharmaceuticals Inc. has a one year low of $16.16 and a one year high of $33.99. The firm has a market cap of $2.82 billion, a PE ratio of -44.87 and a beta of 0.42.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter last year, the firm earned ($0.26) EPS. The business’s revenue was up 69.3% on a year-over-year basis. Research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.62 earnings per share for the current year.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. Mutual of America Capital Management LLC purchased a new position in ACADIA Pharmaceuticals during the 4th quarter worth $2,206,000. Qube Research & Technologies Ltd raised its holdings in ACADIA Pharmaceuticals by 757.2% during the third quarter. Qube Research & Technologies Ltd now owns 212,919 shares of the biopharmaceutical company’s stock worth $4,437,000 after purchasing an additional 188,080 shares in the last quarter. RTW Investments LP lifted its position in ACADIA Pharmaceuticals by 18.3% in the third quarter. RTW Investments LP now owns 11,576,537 shares of the biopharmaceutical company’s stock valued at $241,255,000 after purchasing an additional 1,793,288 shares during the period. Charles Schwab Investment Management Inc. lifted its position in ACADIA Pharmaceuticals by 9.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,073,093 shares of the biopharmaceutical company’s stock valued at $22,363,000 after purchasing an additional 91,641 shares during the period. Finally, Northern Trust Corp boosted its holdings in ACADIA Pharmaceuticals by 4.9% in the 3rd quarter. Northern Trust Corp now owns 1,220,677 shares of the biopharmaceutical company’s stock valued at $25,439,000 after purchasing an additional 57,555 shares in the last quarter. 96.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on ACAD shares. Oppenheimer restated a “market perform” rating and set a $25.00 target price on shares of ACADIA Pharmaceuticals in a research note on Monday, February 5th. Royal Bank of Canada reduced their price objective on shares of ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Morgan Stanley decreased their price objective on shares of ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, March 13th. JMP Securities reissued a “market outperform” rating and issued a $42.00 target price on shares of ACADIA Pharmaceuticals in a report on Wednesday, February 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $37.00 price target on shares of ACADIA Pharmaceuticals in a report on Tuesday, April 30th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.13.

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.