James Kihara Sells 5,401 Shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) insider James Kihara sold 5,401 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $21.18, for a total value of $114,393.18. Following the completion of the transaction, the insider directly owned 24,509 shares in the company, valued at $519,100.62. This trade represents a 18.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

James Kihara also recently made the following trade(s):

• On Monday, May 4th, James Kihara sold 1,332 shares of ACADIA Pharmaceuticals stock. The shares were sold at an average price of $21.79, for a total transaction of $29,024.28.
• On Tuesday, April 7th, James Kihara sold 1,030 shares of ACADIA Pharmaceuticals stock. The shares were sold at an average price of $22.20, for a total transaction of $22,866.00.

ACADIA Pharmaceuticals Price Performance

ACADIA Pharmaceuticals stock traded down $0.07 during midday trading on Wednesday, reaching $21.19. 982,349 shares of the company traded hands, compared to its average volume of 1,702,755. ACADIA Pharmaceuticals Inc. has a 12 month low of $19.69 and a 12 month high of $28.35. The business has a 50 day moving average of $21.70 and a two-hundred day moving average of $23.84. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 9.63, a price-to-earnings-growth ratio of 25.54 and a beta of 0.86.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). ACADIA Pharmaceuticals had a net margin of 34.30% and a return on equity of 9.61%. The firm had revenue of $268.10 million for the quarter, compared to the consensus estimate of $280.25 million. During the same quarter in the prior year, the firm earned $0.11 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, equities analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.39 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ACAD shares. TD Cowen increased their price target on shares of ACADIA Pharmaceuticals from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Royal Bank Of Canada cut their price objective on ACADIA Pharmaceuticals from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, February 26th. Oppenheimer restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research note on Friday, February 6th. Citigroup lowered their price target on shares of ACADIA Pharmaceuticals from $33.00 to $32.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Finally, Bank of America upgraded shares of ACADIA Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $29.00 price target for the company in a research report on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.63.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its stake in ACADIA Pharmaceuticals by 67.5% in the 4th quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 386 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of ACADIA Pharmaceuticals during the 4th quarter valued at approximately $26,000. Smartleaf Asset Management LLC boosted its position in shares of ACADIA Pharmaceuticals by 107.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 885 shares during the last quarter. Transamerica Financial Advisors LLC grew its holdings in shares of ACADIA Pharmaceuticals by 304.5% in the fourth quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 1,005 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in ACADIA Pharmaceuticals by 277.5% in the fourth quarter. Federated Hermes Inc. now owns 1,612 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 1,185 shares during the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

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.