Stephen Davis Sells 26,574 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CEO Stephen Davis sold 26,574 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $17.87, for a total transaction of $474,877.38. Following the sale, the chief executive officer now directly owns 144,267 shares in the company, valued at $2,578,051.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, March 27th, Stephen Davis sold 17,714 shares of ACADIA Pharmaceuticals stock. The shares were sold at an average price of $17.90, for a total transaction of $317,080.60.
• 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.

ACADIA Pharmaceuticals Stock Up 2.0 %

ACAD stock traded up $0.35 during midday trading on Tuesday, reaching $18.15. The stock had a trading volume of 1,371,810 shares, compared to its average volume of 1,823,083. The business has a fifty day simple moving average of $22.37 and a two-hundred day simple moving average of $24.08. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of -46.84 and a beta of 0.37. ACADIA Pharmaceuticals Inc. has a twelve month low of $17.56 and a twelve month high of $33.99.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). The firm had revenue of $231.04 million during the quarter, compared to analyst estimates of $223.79 million. ACADIA Pharmaceuticals had a negative return on equity of 15.67% and a negative net margin of 8.44%. ACADIA Pharmaceuticals’s revenue for the quarter was up 69.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.26) earnings per share. On average, equities analysts predict that ACADIA Pharmaceuticals Inc. will post 0.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ACAD has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday, March 25th. 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. Robert W. Baird started coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, January 30th. They set an “outperform” rating and a $40.00 price objective on the stock. Royal Bank of Canada lowered their price target on ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Finally, StockNews.com upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, January 30th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.12.

Institutional Trading of ACADIA Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACAD. Empire Life Investments Inc. grew its position in shares of ACADIA Pharmaceuticals by 0.3% during the 4th quarter. Empire Life Investments Inc. now owns 174,815 shares of the biopharmaceutical company’s stock worth $5,473,000 after buying an additional 467 shares during the period. Legal & General Group Plc grew its position in shares of ACADIA Pharmaceuticals by 0.5% during the 3rd 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 period. Amalgamated Bank grew its position in shares of ACADIA Pharmaceuticals by 3.2% during the 4th quarter. Amalgamated Bank now owns 19,880 shares of the biopharmaceutical company’s stock worth $316,000 after buying an additional 622 shares during the period. Handelsbanken Fonder AB grew its position in shares of ACADIA Pharmaceuticals by 2.3% during the 4th quarter. Handelsbanken Fonder AB now owns 31,633 shares of the biopharmaceutical company’s stock worth $990,000 after buying an additional 700 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of ACADIA Pharmaceuticals by 1.6% during the 4th quarter. Franklin Resources Inc. now owns 50,405 shares of the biopharmaceutical company’s stock worth $1,578,000 after buying an additional 803 shares during the period. 96.71% of the stock is currently owned by institutional investors and hedge funds.

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.