Insider Selling: ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CEO Sells 11,427 Shares of Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CEO Stephen Davis sold 11,427 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total transaction of $193,573.38. Following the completion of the sale, the chief executive officer now owns 155,231 shares of the company’s stock, valued at approximately $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 stock was 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 shares were 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 stock was sold at an average price of $24.67, for a total value of $137,584.59.

ACADIA Pharmaceuticals Trading Down 0.2 %

NASDAQ ACAD opened at $17.05 on Monday. The firm has a market capitalization of $2.82 billion, a P/E ratio of -44.87 and a beta of 0.42. The firm’s fifty day moving average price is $19.15 and its two-hundred day moving average price is $23.33. ACADIA Pharmaceuticals Inc. has a 1 year low of $16.16 and a 1 year high of $33.99.

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

Institutional Trading of ACADIA Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of ACAD. Quest Partners LLC acquired a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth approximately $39,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of ACADIA Pharmaceuticals by 97.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 4,202 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 2,070 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at about $100,000. Acadian Asset Management LLC acquired a new stake in shares of ACADIA Pharmaceuticals during the 3rd quarter worth about $184,000. Finally, Legato Capital Management LLC acquired a new stake in ACADIA Pharmaceuticals during the fourth quarter worth approximately $206,000. Institutional investors own 96.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. TheStreet upgraded shares of ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a report on Tuesday, February 27th. HC Wainwright reiterated a “buy” rating and set a $33.00 target price on shares of ACADIA Pharmaceuticals in a report on Wednesday, February 28th. Royal Bank of Canada cut their price target on ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. StockNews.com upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, January 30th. Finally, Mizuho cut ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their target price for the company from $39.00 to $25.00 in a research note on Tuesday, March 12th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.