Insider Selling: ACADIA Pharmaceuticals (NASDAQ:ACAD) Director Sells 1,600 Shares of Stock

Key Points

• Director Elizabeth Garofalo sold 1,600 shares of ACADIA Pharmaceuticals stock at an average price of $25.98, reducing their ownership by 5.93%.
• ACADIA Pharmaceuticals reported a quarterly earnings per share (EPS) of $0.16, surpassing the consensus estimate of $0.14, while revenue was $264.57 million, above expectations.
• Analysts maintain a consensus rating of Moderate Buy with an average price target of $28.88, with several firms raising their target prices recently.

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report) Director Elizabeth Garofalo sold 1,600 shares of the company's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $25.98, for a total transaction of $41,568.00. Following the sale, the director directly owned 25,382 shares in the company, valued at $659,424.36. This represents a 5.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

ACADIA Pharmaceuticals Stock Up 0.1%

ACAD stock traded up $0.03 during midday trading on Wednesday, reaching $25.72. 1,362,845 shares of the company's stock traded hands, compared to its average volume of 2,169,173. ACADIA Pharmaceuticals Inc. has a 1-year low of $13.40 and a 1-year high of $26.65. The company has a market cap of $4.34 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 6.62 and a beta of 0.75. The company has a 50-day simple moving average of $23.49 and a two-hundred day simple moving average of $20.04.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. The business had revenue of $264.57 million for the quarter, compared to the consensus estimate of $263.07 million. ACADIA Pharmaceuticals had a net margin of 21.80% and a return on equity of 14.69%. The firm's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 EPS. Equities research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current year.

Wall Street Analysts Forecast Growth

ACAD has been the subject of several recent research reports. Oppenheimer reissued a "market perform" rating and set a $22.00 price objective (up from $19.00) on shares of ACADIA Pharmaceuticals in a report on Thursday, June 26th. JMP Securities boosted their price objective on ACADIA Pharmaceuticals from $37.00 to $38.00 and gave the stock a "market outperform" rating in a report on Thursday, August 7th. UBS Group boosted their price objective on ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Robert W. Baird upped their price target on ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Finally, Wall Street Zen raised ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $28.88.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of large investors have recently bought and sold shares of ACAD. Thrivent Financial for Lutherans boosted its holdings in shares of ACADIA Pharmaceuticals by 0.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 91,067 shares of the biopharmaceutical company's stock valued at $1,964,000 after buying an additional 626 shares during the last quarter. Cim Investment Management Inc. boosted its holdings in shares of ACADIA Pharmaceuticals by 100.7% in the 2nd quarter. Cim Investment Management Inc. now owns 29,573 shares of the biopharmaceutical company's stock valued at $589,000 after buying an additional 14,841 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of ACADIA Pharmaceuticals by 8.2% in the 2nd quarter. Public Sector Pension Investment Board now owns 422,252 shares of the biopharmaceutical company's stock valued at $9,108,000 after buying an additional 31,821 shares during the last quarter. FORA Capital LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the 2nd quarter valued at approximately $297,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of ACADIA Pharmaceuticals by 250.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 15,629 shares of the biopharmaceutical company's stock valued at $337,000 after buying an additional 11,171 shares during the last quarter. Institutional investors and hedge funds own 96.71% of the company's stock.

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.

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