Insider Selling: ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) COO Sells $173,630.49 in Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) COO Brendan Teehan sold 10,329 shares of ACADIA Pharmaceuticals stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $173,630.49. Following the completion of the sale, the chief operating officer now directly owns 62,105 shares in the company, valued at $1,043,985.05. This represents a 14.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

ACADIA Pharmaceuticals Trading Down 0.6 %

ACADIA Pharmaceuticals stock opened at $16.18 on Friday. The stock’s fifty day simple moving average is $15.61 and its 200-day simple moving average is $15.99. The firm has a market capitalization of $2.69 billion, a P/E ratio of 20.74 and a beta of 0.38. ACADIA Pharmaceuticals Inc. has a twelve month low of $14.15 and a twelve month high of $32.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results 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 firm had revenue of $250.40 million during the quarter, compared to the consensus estimate of $248.83 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The company’s revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.40) earnings per share. Sell-side analysts predict that ACADIA Pharmaceuticals Inc. will post 0.72 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on ACAD shares. UBS Group reduced their price target 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. Royal Bank of Canada decreased their target price on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. 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. HC Wainwright reaffirmed a “buy” rating and set a $27.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Finally, StockNews.com lowered shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.56.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Park Place Capital Corp purchased a new position in ACADIA Pharmaceuticals in the third quarter valued at approximately $25,000. Values First Advisors Inc. purchased a new position in ACADIA Pharmaceuticals during the 3rd quarter worth $27,000. Covestor Ltd raised its position in ACADIA Pharmaceuticals by 70.5% during the 1st quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 840 shares during the last quarter. Quest Partners LLC lifted its stake in shares of ACADIA Pharmaceuticals by 42.3% in the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after acquiring an additional 1,047 shares during the period. Finally, Stonepine Capital Management LLC acquired a new position in shares of ACADIA Pharmaceuticals during the second quarter worth about $81,000. Hedge funds and other institutional investors 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.