Srdjan R. Stankovic Sells 2,865 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACADGet Rating) President Srdjan R. Stankovic sold 2,865 shares of the business’s stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $18.18, for a total transaction of $52,085.70. Following the transaction, the president now owns 55,188 shares of the company’s stock, valued at approximately $1,003,317.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

ACAD stock opened at $19.81 on Wednesday. The firm’s fifty day simple moving average is $23.79 and its 200-day simple moving average is $22.62. ACADIA Pharmaceuticals Inc. has a 12 month low of $15.68 and a 12 month high of $28.06.

ACADIA Pharmaceuticals (NASDAQ:ACADGet Rating) last announced its quarterly earnings results on Monday, February 28th. The biopharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.03). ACADIA Pharmaceuticals had a negative return on equity of 29.79% and a negative net margin of 34.67%. The firm had revenue of $130.80 million for the quarter, compared to analysts’ expectations of $135.44 million. During the same period last year, the company posted ($0.42) earnings per share. The business’s quarterly revenue was up 8.1% on a year-over-year basis. On average, research analysts expect that ACADIA Pharmaceuticals Inc. will post -1.32 EPS for the current fiscal year.

ACAD has been the topic of a number of recent analyst reports. Canaccord Genuity Group upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and upped their price target for the company from $30.00 to $31.00 in a research note on Wednesday, March 16th. JMP Securities cut their price target on shares of ACADIA Pharmaceuticals from $42.00 to $35.00 and set a “market outperform” rating on the stock in a research note on Tuesday, March 1st. Cantor Fitzgerald upped their price target on shares of ACADIA Pharmaceuticals from $32.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, March 10th. StockNews.com initiated coverage on shares of ACADIA Pharmaceuticals in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, HC Wainwright upgraded shares of ACADIA Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their price target for the company from $18.00 to $36.00 in a research note on Wednesday, February 9th. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $29.41.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC boosted its holdings in ACADIA Pharmaceuticals by 319.2% during the third quarter. SG Americas Securities LLC now owns 61,655 shares of the biopharmaceutical company’s stock worth $1,024,000 after buying an additional 46,947 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in ACADIA Pharmaceuticals by 8.7% during the fourth quarter. Russell Investments Group Ltd. now owns 138,950 shares of the biopharmaceutical company’s stock worth $3,241,000 after buying an additional 11,172 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in ACADIA Pharmaceuticals by 21.4% during the third quarter. Rockefeller Capital Management L.P. now owns 281,228 shares of the biopharmaceutical company’s stock worth $4,671,000 after buying an additional 49,644 shares in the last quarter. First Quadrant L P CA boosted its holdings in ACADIA Pharmaceuticals by 37.5% during the fourth quarter. First Quadrant L P CA now owns 16,500 shares of the biopharmaceutical company’s stock worth $385,000 after buying an additional 4,500 shares in the last quarter. Finally, Balyasny Asset Management LLC purchased a new stake in ACADIA Pharmaceuticals during the third quarter worth $2,142,000. 91.74% of the stock is currently owned by hedge funds and other institutional investors.

ACADIA Pharmaceuticals Company Profile (Get Rating)

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.

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