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

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) insider James Kihara sold 4,073 shares of ACADIA Pharmaceuticals 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 completion of the transaction, the insider now owns 19,863 shares in the company, valued at $333,897.03. The trade was a 17.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

ACADIA Pharmaceuticals Trading Up 0.4 %

Shares of ACADIA Pharmaceuticals stock opened at $16.27 on Thursday. The firm has a market capitalization of $2.71 billion, a PE ratio of 20.86 and a beta of 0.38. ACADIA Pharmaceuticals Inc. has a 12 month low of $14.15 and a 12 month high of $32.59. The business’s 50-day moving average price is $15.61 and its 200-day moving average price is $15.99.

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

Analyst Ratings Changes

A number of analysts have issued reports on the stock. StockNews.com cut shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Morgan Stanley downgraded shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $28.00 to $20.00 in a research note on Wednesday, August 7th. Royal Bank of Canada cut their target price on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, Citigroup lowered their price target on ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, ACADIA Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $25.56.

Institutional Trading of ACADIA Pharmaceuticals

Several large investors have recently modified their holdings of the company. State Street Corp boosted its stake in shares of ACADIA Pharmaceuticals by 3.0% in the third quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company’s stock worth $91,878,000 after acquiring an additional 173,084 shares during the period. Fred Alger Management LLC boosted its position in ACADIA Pharmaceuticals by 17.8% during the 3rd quarter. Fred Alger Management LLC now owns 3,186,389 shares of the biopharmaceutical company’s stock valued at $49,007,000 after acquiring an additional 481,950 shares in the last quarter. Millennium Management LLC boosted its position in shares of ACADIA Pharmaceuticals by 36.2% in the 2nd quarter. Millennium Management LLC now owns 2,937,714 shares of the biopharmaceutical company’s stock worth $47,738,000 after purchasing an additional 781,070 shares in the last quarter. D. E. Shaw & Co. Inc. raised its stake in ACADIA Pharmaceuticals by 11.1% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,934,926 shares of the biopharmaceutical company’s stock worth $47,693,000 after acquiring an additional 292,906 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of ACADIA Pharmaceuticals by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,875,540 shares of the biopharmaceutical company’s stock valued at $44,234,000 after buying an additional 30,826 shares during the last quarter. Institutional investors own 96.71% of the company’s stock.

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.