ACADIA Pharmaceuticals (NASDAQ:ACAD) Trading Down 4.1% on Insider Selling

by · The Markets Daily

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Get Free Report)’s stock price fell 4.1% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $16.25 and last traded at $16.34. 277,947 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 1,676,110 shares. The stock had previously closed at $17.03.

Specifically, CFO Mark C. Schneyer sold 10,259 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $172,453.79. Following the completion of the transaction, the chief financial officer now directly owns 53,302 shares of the company’s stock, valued at approximately $896,006.62. The trade was a 16.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Kihara sold 4,073 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $68,467.13. Following the sale, the insider now directly owns 19,863 shares in the company, valued at approximately $333,897.03. This represents a 17.02 % decrease in their position. The disclosure for this sale can be found here. In related news, COO Brendan Teehan sold 10,329 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $173,630.49. Following the completion of the sale, the chief operating officer now directly owns 62,105 shares of the company’s stock, valued at approximately $1,043,985.05. This represents a 14.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ACAD. Cantor Fitzgerald reduced their price target on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Raymond James reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 10th. Citigroup decreased their price objective on ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Finally, Royal Bank of Canada lowered their price objective on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Six investment 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, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $25.56.

Get Our Latest Stock Report on ACAD

ACADIA Pharmaceuticals Stock Performance

The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 20.86 and a beta of 0.38. The business has a fifty day moving average of $15.61 and a two-hundred day moving average of $15.99.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.14 by $0.06. The business had revenue of $250.40 million during the quarter, compared to the consensus estimate of $248.83 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. ACADIA Pharmaceuticals’s revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.40) EPS. As a group, sell-side analysts predict that ACADIA Pharmaceuticals Inc. will post 0.72 EPS for the current fiscal year.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of ACADIA Pharmaceuticals by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,875,540 shares of the biopharmaceutical company’s stock valued at $44,234,000 after acquiring an additional 30,826 shares in the last quarter. Barclays PLC grew its position in shares of ACADIA Pharmaceuticals by 126.2% during the 3rd quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company’s stock worth $4,269,000 after purchasing an additional 154,854 shares in the last quarter. State Street Corp increased its holdings in shares of ACADIA Pharmaceuticals by 3.0% during the third quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company’s stock worth $91,878,000 after purchasing an additional 173,084 shares during the period. Iron Triangle Partners LP acquired a new stake in shares of ACADIA Pharmaceuticals in the third quarter valued at approximately $11,535,000. Finally, Erste Asset Management GmbH bought a new stake in shares of ACADIA Pharmaceuticals in the third quarter valued at approximately $3,802,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Company Profile

(Get Free Report)

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.

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