Insider Selling: ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Director Sells 14,446 Shares of Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report) Director Laura Brege sold 14,446 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $21.78, for a total value of $314,633.88. Following the completion of the sale, the director now directly owns 15,095 shares in the company, valued at $328,769.10. This trade represents a 48.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

ACADIA Pharmaceuticals Stock Up 3.0%

Shares of ACAD stock traded up $0.64 during mid-day trading on Friday, hitting $21.98. 1,280,062 shares of the company's stock were exchanged, compared to its average volume of 1,937,725. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 28.18 and a beta of 0.65. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $13.40 and a fifty-two week high of $25.23. The stock has a 50-day simple moving average of $17.36 and a two-hundred day simple moving average of $17.64.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. The firm had revenue of $244.32 million for the quarter, compared to analyst estimates of $239.32 million. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The firm's quarterly revenue was up 18.7% on a year-over-year basis. During the same period last year, the company earned $0.10 EPS. As a group, analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ACAD has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft raised shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating and upped their price target for the company from $20.00 to $35.00 in a report on Wednesday, May 21st. Bank of America lifted their price objective on ACADIA Pharmaceuticals from $18.00 to $23.00 and gave the stock a "hold" rating in a research report on Thursday. HC Wainwright increased their target price on ACADIA Pharmaceuticals from $27.00 to $32.00 and gave the company a "buy" rating in a report on Monday, May 19th. BMO Capital Markets raised their price target on ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. Finally, JPMorgan Chase & Co. boosted their price target on ACADIA Pharmaceuticals from $26.00 to $30.00 and gave the stock an "overweight" rating in a report on Friday. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $26.79.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of large investors have recently bought and sold shares of the stock. Exchange Traded Concepts LLC purchased a new stake in shares of ACADIA Pharmaceuticals during the 1st quarter valued at $29,000. Banque Transatlantique SA acquired a new position in ACADIA Pharmaceuticals in the first quarter valued at $31,000. Picton Mahoney Asset Management purchased a new stake in ACADIA Pharmaceuticals during the first quarter valued at about $32,000. Federated Hermes Inc. grew its position in ACADIA Pharmaceuticals by 231.5% during the first quarter. Federated Hermes Inc. now owns 2,317 shares of the biopharmaceutical company's stock valued at $38,000 after acquiring an additional 1,618 shares during the period. Finally, Virtus Fund Advisers LLC acquired a new stake in ACADIA Pharmaceuticals during the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 96.71% of the company's stock.

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.