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 the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $68,467.13. Following the completion of the sale, the insider now owns 19,863 shares in the company, valued at $333,897.03. This trade represents a 17.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD stock traded down $0.82 during trading on Tuesday, hitting $16.21. 1,562,268 shares of the stock traded hands, compared to its average volume of 1,681,843. The firm’s fifty day moving average price is $15.60 and its 200-day moving average price is $15.99. ACADIA Pharmaceuticals Inc. has a 52-week low of $14.15 and a 52-week high of $32.59. The firm has a market capitalization of $2.70 billion, a P/E ratio of 20.78 and a beta of 0.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The business had revenue of $250.40 million during the quarter, compared to the consensus estimate of $248.83 million. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The business’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.40) earnings per share. As a group, equities research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.72 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Swiss National Bank grew its stake in ACADIA Pharmaceuticals by 0.4% in the 1st quarter. Swiss National Bank now owns 210,604 shares of the biopharmaceutical company’s stock valued at $3,894,000 after acquiring an additional 800 shares during the last quarter. Sei Investments Co. raised its holdings in ACADIA Pharmaceuticals by 6.2% in the first quarter. Sei Investments Co. now owns 34,752 shares of the biopharmaceutical company’s stock valued at $642,000 after buying an additional 2,034 shares during the period. Russell Investments Group Ltd. boosted its position in shares of ACADIA Pharmaceuticals by 12.3% in the first quarter. Russell Investments Group Ltd. now owns 20,689 shares of the biopharmaceutical company’s stock worth $383,000 after buying an additional 2,264 shares during the period. ProShare Advisors LLC grew its holdings in ACADIA Pharmaceuticals by 10.0% during the 1st quarter. ProShare Advisors LLC now owns 33,583 shares of the biopharmaceutical company’s stock valued at $621,000 after purchasing an additional 3,048 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in ACADIA Pharmaceuticals by 15.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 39,881 shares of the biopharmaceutical company’s stock worth $751,000 after purchasing an additional 5,300 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ACAD has been the subject of a number of research reports. Citigroup reduced their price objective 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. StockNews.com downgraded ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Royal Bank of Canada lowered their price target on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. UBS Group cut their target price on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Finally, Morgan Stanley lowered ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $28.00 to $20.00 in a report on Wednesday, August 7th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.56.

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.