ACADIA Pharmaceuticals (NASDAQ:ACAD) Insider Sells $22,866.00 in Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) insider James Kihara sold 1,030 shares of ACADIA Pharmaceuticals stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $22.20, for a total value of $22,866.00. Following the completion of the sale, the insider directly owned 27,865 shares in the company, valued at $618,603. This represents a 3.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD traded down $0.23 during midday trading on Tuesday, hitting $22.09. The stock had a trading volume of 1,428,663 shares, compared to its average volume of 1,665,898. The company has a 50 day simple moving average of $22.75 and a two-hundred day simple moving average of $23.80. ACADIA Pharmaceuticals Inc. has a twelve month low of $13.40 and a twelve month high of $28.35. The firm has a market cap of $3.77 billion, a price-to-earnings ratio of 9.65, a price-to-earnings-growth ratio of 22.07 and a beta of 0.83.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $1.48. ACADIA Pharmaceuticals had a return on equity of 12.49% and a net margin of 36.49%.The firm had revenue of $298.00 million for the quarter, compared to the consensus estimate of $292.54 million. During the same quarter last year, the business posted $0.86 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. Analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of ACAD. Braidwell LP bought a new position in ACADIA Pharmaceuticals during the third quarter worth about $50,760,000. Norges Bank bought a new position in ACADIA Pharmaceuticals during the fourth quarter worth about $40,266,000. Millennium Management LLC grew its holdings in ACADIA Pharmaceuticals by 2,052.1% during the third quarter. Millennium Management LLC now owns 1,483,235 shares of the biopharmaceutical company’s stock worth $31,652,000 after purchasing an additional 1,414,315 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in ACADIA Pharmaceuticals by 390.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,648,864 shares of the biopharmaceutical company’s stock worth $35,187,000 after purchasing an additional 1,312,426 shares during the period. Finally, Logos Global Management LP bought a new position in ACADIA Pharmaceuticals during the fourth quarter worth about $22,704,000. Institutional investors own 96.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ACAD. Citizens Jmp raised their price objective on ACADIA Pharmaceuticals from $34.00 to $35.00 and gave the company a “market outperform” rating in a report on Thursday, February 26th. Bank of America upgraded ACADIA Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Wednesday, March 25th. Wolfe Research began coverage on ACADIA Pharmaceuticals in a report on Monday, February 23rd. They issued an “outperform” rating and a $33.00 price objective for the company. Piper Sandler set a $37.00 price objective on ACADIA Pharmaceuticals in a report on Tuesday, December 16th. Finally, Oppenheimer restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.21.

ACADIA Pharmaceuticals Company Profile

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.