ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CEO Stephen Davis Sells 17,714 Shares of Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CEO Stephen Davis sold 17,714 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $17.90, for a total transaction of $317,080.60. Following the transaction, the chief executive officer now directly owns 118,842 shares in the company, valued at $2,127,271.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, February 26th, Stephen Davis sold 5,577 shares of ACADIA Pharmaceuticals stock. The stock was sold at an average price of $24.67, for a total value of $137,584.59.
• On Monday, January 8th, Stephen Davis sold 3,732 shares of ACADIA Pharmaceuticals stock. The shares were sold at an average price of $29.96, for a total value of $111,810.72.

ACADIA Pharmaceuticals Trading Up 2.3 %

ACAD stock opened at $18.20 on Thursday. ACADIA Pharmaceuticals Inc. has a 1-year low of $17.56 and a 1-year high of $33.99. The business’s 50 day moving average is $23.85 and its 200-day moving average is $24.48.

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

Institutional Trading of ACADIA Pharmaceuticals

Several hedge funds have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. bought a new stake in ACADIA Pharmaceuticals during the 1st quarter worth approximately $572,000. HighTower Advisors LLC acquired a new position in ACADIA Pharmaceuticals in the first quarter worth $1,077,000. MetLife Investment Management LLC grew its holdings in shares of ACADIA Pharmaceuticals by 54.0% during the first quarter. MetLife Investment Management LLC now owns 66,351 shares of the biopharmaceutical company’s stock worth $1,607,000 after purchasing an additional 23,265 shares during the last quarter. Rhumbline Advisers increased its stake in shares of ACADIA Pharmaceuticals by 3.9% in the first quarter. Rhumbline Advisers now owns 133,444 shares of the biopharmaceutical company’s stock valued at $3,232,000 after buying an additional 5,011 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of ACADIA Pharmaceuticals in the first quarter valued at about $1,380,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

Analysts Set New Price Targets

ACAD has been the topic of several analyst reports. Mizuho downgraded ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their price target for the company from $39.00 to $25.00 in a report on Tuesday, March 12th. HC Wainwright reiterated a “buy” rating and issued a $33.00 target price on shares of ACADIA Pharmaceuticals in a research note 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 target price for the company. Stifel Nicolaus raised their price target on ACADIA Pharmaceuticals from $25.00 to $27.00 and gave the company a “hold” rating in a research report on Monday, December 18th. Finally, JPMorgan Chase & Co. cut their price objective on ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating for the company in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $36.12.

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.