ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CEO Stephen Davis Sells 11,427 Shares

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CEO Stephen Davis sold 11,427 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total transaction of $193,573.38. Following the transaction, the chief executive officer now owns 155,231 shares of the company’s stock, valued at $2,629,613.14. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, April 8th, Stephen Davis sold 26,574 shares of ACADIA Pharmaceuticals stock. The stock was sold at an average price of $17.87, for a total transaction of $474,877.38.
• 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 value of $137,584.59.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ:ACAD opened at $17.05 on Friday. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of -44.87 and a beta of 0.42. The firm’s 50 day simple moving average is $19.15 and its 200 day simple moving average is $23.33. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $16.16 and a fifty-two week high of $33.99.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share 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 firm had revenue of $231.04 million during the quarter, compared to analyst estimates of $223.79 million. During the same quarter last year, the business posted ($0.26) earnings per share. The company’s revenue for the quarter was up 69.3% on a year-over-year basis. Equities research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.62 earnings per share for the current year.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Hedge funds have recently modified their holdings of the business. RTW Investments LP lifted its stake in ACADIA Pharmaceuticals by 18.3% in the third quarter. RTW Investments LP now owns 11,576,537 shares of the biopharmaceutical company’s stock valued at $241,255,000 after buying an additional 1,793,288 shares in the last quarter. Norges Bank acquired a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $45,187,000. Fred Alger Management LLC lifted its position in shares of ACADIA Pharmaceuticals by 38.7% in the third quarter. Fred Alger Management LLC now owns 3,108,883 shares of the biopharmaceutical company’s stock worth $64,789,000 after purchasing an additional 867,818 shares in the last quarter. Eventide Asset Management LLC acquired a new position in ACADIA Pharmaceuticals during the fourth quarter worth $25,342,000. Finally, M&G Investment Management Ltd. bought a new position in ACADIA Pharmaceuticals in the fourth quarter valued at $10,349,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada decreased their price target on shares of ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. HC Wainwright reissued a “buy” rating and issued a $33.00 target price on shares of ACADIA Pharmaceuticals in a research note on Wednesday, February 28th. Oppenheimer reaffirmed a “market perform” rating and set a $25.00 price objective on shares of ACADIA Pharmaceuticals in a report on Monday, February 5th. Mizuho downgraded ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their target price for the stock from $39.00 to $25.00 in a research report on Tuesday, March 12th. Finally, Robert W. Baird assumed coverage on ACADIA Pharmaceuticals in a research report on Tuesday, January 30th. They issued an “outperform” rating and a $40.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.13.

ACADIA Pharmaceuticals Company Profile

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.