ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) COO Brendan Teehan Sells 10,329 Shares

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) COO Brendan Teehan sold 10,329 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $173,630.49. Following the completion of the transaction, the chief operating officer now directly owns 62,105 shares of the company’s stock, valued at approximately $1,043,985.05. This trade represents a 14.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

ACADIA Pharmaceuticals Stock Down 4.8 %

NASDAQ ACAD opened at $16.21 on Wednesday. The firm has a market capitalization of $2.70 billion, a PE ratio of 20.78 and a beta of 0.38. ACADIA Pharmaceuticals Inc. has a twelve month low of $14.15 and a twelve month high of $32.59. The stock’s 50 day moving average is $15.60 and its 200 day moving average is $15.99.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The business had revenue of $250.40 million during the quarter, compared to analyst estimates of $248.83 million. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. ACADIA Pharmaceuticals’s revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.40) EPS. On average, research analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.72 earnings per share for the current year.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of hedge funds have recently modified their holdings of the company. Park Place Capital Corp bought a new stake in ACADIA Pharmaceuticals in the 3rd quarter worth approximately $25,000. Values First Advisors Inc. bought a new stake in shares of ACADIA Pharmaceuticals in the third quarter valued at about $27,000. Covestor Ltd boosted its stake in shares of ACADIA Pharmaceuticals by 70.5% during the first quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 840 shares in the last quarter. Quest Partners LLC boosted its position in ACADIA Pharmaceuticals by 42.3% during the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock valued at $54,000 after acquiring an additional 1,047 shares in the last quarter. Finally, Stonepine Capital Management LLC purchased a new position in ACADIA Pharmaceuticals in the second quarter valued at about $81,000. 96.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on ACAD. Morgan Stanley cut ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $28.00 to $20.00 in a research note on Wednesday, August 7th. UBS Group reduced their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada decreased their target price on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. StockNews.com cut shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.56.

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.