Stephen Davis Sells 17,714 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CEO Stephen Davis sold 17,714 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $17.90, for a total value of $317,080.60. Following the transaction, the chief executive officer now directly owns 118,842 shares of the company’s stock, valued at approximately $2,127,271.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 transaction of $137,584.59.
• On Monday, January 8th, Stephen Davis sold 3,732 shares of ACADIA Pharmaceuticals stock. The shares were sold at an average price of $29.96, for a total transaction of $111,810.72.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ:ACAD opened at $18.20 on Thursday. ACADIA Pharmaceuticals Inc. has a 12 month low of $17.56 and a 12 month high of $33.99. The company’s 50-day moving average price is $23.85 and its two-hundred day moving average price is $24.48.

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). The company had revenue of $231.04 million during the quarter, compared to analyst estimates of $223.79 million. ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The business’s revenue for the quarter was up 69.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.26) EPS. On average, sell-side analysts expect that ACADIA Pharmaceuticals Inc. will post 0.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ACAD has been the subject of a number of research analyst reports. StockNews.com raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, January 30th. Oppenheimer reaffirmed a “market perform” rating and issued a $25.00 price target on shares of ACADIA Pharmaceuticals in a research report on Monday, February 5th. JMP Securities reissued a “market outperform” rating and issued a $42.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Wednesday, February 7th. Stifel Nicolaus upped their target price on shares of ACADIA Pharmaceuticals from $25.00 to $27.00 and gave the company a “hold” rating in a research note on Monday, December 18th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $33.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.12.

Institutional Trading of ACADIA Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Empire Life Investments Inc. lifted its holdings in ACADIA Pharmaceuticals by 0.3% in the fourth quarter. Empire Life Investments Inc. now owns 174,815 shares of the biopharmaceutical company’s stock valued at $5,473,000 after buying an additional 467 shares during the period. Legal & General Group Plc boosted its holdings in ACADIA Pharmaceuticals by 0.5% during the third quarter. Legal & General Group Plc now owns 115,494 shares of the biopharmaceutical company’s stock worth $2,407,000 after buying an additional 574 shares during the last quarter. Amalgamated Bank increased its stake in shares of ACADIA Pharmaceuticals by 3.2% in the 4th quarter. Amalgamated Bank now owns 19,880 shares of the biopharmaceutical company’s stock valued at $316,000 after acquiring an additional 622 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in shares of ACADIA Pharmaceuticals by 6.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,007 shares of the biopharmaceutical company’s stock valued at $240,000 after acquiring an additional 623 shares during the period. Finally, Handelsbanken Fonder AB grew its holdings in ACADIA Pharmaceuticals by 2.3% during the fourth quarter. Handelsbanken Fonder AB now owns 31,633 shares of the biopharmaceutical company’s stock valued at $990,000 after purchasing an additional 700 shares during the period. 96.71% of the stock is owned by institutional investors.

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.