Insider Selling: ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Insider Sells 4,073 Shares of Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) insider James Kihara sold 4,073 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $68,467.13. Following the transaction, the insider now directly owns 19,863 shares in the company, valued at approximately $333,897.03. The trade was a 17.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.

ACADIA Pharmaceuticals Stock Down 0.6 %

ACAD stock opened at $16.18 on Friday. The company’s 50-day simple moving average is $15.61 and its 200-day simple moving average is $15.99. ACADIA Pharmaceuticals Inc. has a 52-week low of $14.15 and a 52-week high of $32.59. The firm has a market cap of $2.69 billion, a P/E ratio of 20.74 and a beta of 0.38.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. M&G Plc raised its position in shares of ACADIA Pharmaceuticals by 12.4% during the 2nd quarter. M&G Plc now owns 351,115 shares of the biopharmaceutical company’s stock worth $5,618,000 after purchasing an additional 38,790 shares during the last quarter. Fred Alger Management LLC raised its position in shares of ACADIA Pharmaceuticals by 19.8% during the 2nd quarter. Fred Alger Management LLC now owns 2,704,439 shares of the biopharmaceutical company’s stock worth $43,947,000 after purchasing an additional 446,875 shares during the last quarter. US Bancorp DE raised its position in shares of ACADIA Pharmaceuticals by 2,084.0% during the 3rd quarter. US Bancorp DE now owns 32,934 shares of the biopharmaceutical company’s stock worth $507,000 after purchasing an additional 31,426 shares during the last quarter. Sei Investments Co. raised its position in shares of ACADIA Pharmaceuticals by 6.2% during the 1st quarter. Sei Investments Co. now owns 34,752 shares of the biopharmaceutical company’s stock worth $642,000 after purchasing an additional 2,034 shares during the last quarter. Finally, Hohimer Wealth Management LLC raised its position in shares of ACADIA Pharmaceuticals by 828.8% during the 2nd quarter. Hohimer Wealth Management LLC now owns 159,133 shares of the biopharmaceutical company’s stock worth $2,586,000 after purchasing an additional 142,000 shares during the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ACAD. UBS Group reduced their price target on ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Cantor Fitzgerald dropped their price objective on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. HC Wainwright reissued a “buy” rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Needham & Company LLC reissued a “buy” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Finally, Citigroup dropped their price objective on shares of ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to 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.