ACADIA Pharmaceuticals (NASDAQ:ACAD) Insider James Kihara Sells 1,030 Shares

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) insider James Kihara sold 1,030 shares of ACADIA Pharmaceuticals stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $22.20, for a total value of $22,866.00. Following the transaction, the insider owned 27,865 shares of the company’s stock, valued at $618,603. The trade was a 3.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

ACADIA Pharmaceuticals Stock Performance

ACADIA Pharmaceuticals stock traded down $0.23 during midday trading on Tuesday, reaching $22.09. 1,428,663 shares of the company’s stock were exchanged, compared to its average volume of 1,665,898. ACADIA Pharmaceuticals Inc. has a 52 week low of $13.40 and a 52 week high of $28.35. The firm has a market cap of $3.77 billion, a price-to-earnings ratio of 9.65, a P/E/G ratio of 22.07 and a beta of 0.83. The stock’s 50-day simple moving average is $22.75 and its 200 day simple moving average is $23.80.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ACAD shares. Mizuho upgraded ACADIA Pharmaceuticals from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $29.00 to $35.00 in a report on Monday, February 23rd. Citizens Jmp boosted their price objective on ACADIA Pharmaceuticals from $34.00 to $35.00 and gave the stock a “market outperform” rating in a report on Thursday, February 26th. Piper Sandler set a $37.00 price objective on ACADIA Pharmaceuticals in a report on Tuesday, December 16th. Royal Bank Of Canada reduced their price objective on ACADIA Pharmaceuticals from $31.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. Finally, Wolfe Research started coverage on ACADIA Pharmaceuticals in a report on Monday, February 23rd. They set an “outperform” rating and a $33.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $31.21.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Several institutional investors have recently made changes to their positions in ACAD. Farther Finance Advisors LLC boosted its stake in shares of ACADIA Pharmaceuticals by 67.5% in the fourth quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 386 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $26,000. Geneos Wealth Management Inc. boosted its stake in shares of ACADIA Pharmaceuticals by 113.0% in the third quarter. Geneos Wealth Management Inc. now owns 1,425 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 756 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of ACADIA Pharmaceuticals by 107.0% in the third quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 885 shares during the period. Finally, Transamerica Financial Advisors LLC boosted its stake in shares of ACADIA Pharmaceuticals by 304.5% in the fourth quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 1,005 shares during the period. 96.71% of the stock is currently owned by institutional investors.

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.