ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CEO Stephen Davis Sells 29,792 Shares

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CEO Stephen Davis sold 29,792 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $40.00, for a total transaction of $1,191,680.00. Following the transaction, the chief executive officer now directly owns 29,792 shares in the company, valued at $1,191,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

ACAD stock opened at $40.52 on Monday. The company has a quick ratio of 6.79, a current ratio of 6.85 and a debt-to-equity ratio of 0.02. ACADIA Pharmaceuticals Inc. has a 12 month low of $14.01 and a 12 month high of $44.85. The firm has a market cap of $5.85 billion, a P/E ratio of -20.89 and a beta of 2.81. The company’s 50-day moving average price is $34.90 and its two-hundred day moving average price is $28.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.08. ACADIA Pharmaceuticals had a negative net margin of 101.45% and a negative return on equity of 70.97%. The firm had revenue of $83.21 million for the quarter, compared to analyst estimates of $72.50 million. During the same period last year, the firm earned ($0.51) EPS. The business’s quarterly revenue was up 45.8% compared to the same quarter last year. Equities analysts predict that ACADIA Pharmaceuticals Inc. will post -1.86 EPS for the current year.

A number of equities analysts recently commented on the stock. Royal Bank of Canada assumed coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, October 1st. They set an “outperform” rating and a $60.00 price target on the stock. BidaskClub raised shares of ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday. Cowen reaffirmed a “buy” rating and set a $66.00 price target on shares of ACADIA Pharmaceuticals in a research report on Monday, September 9th. ValuEngine lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Cantor Fitzgerald raised their price target on shares of ACADIA Pharmaceuticals from $49.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $47.87.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in ACADIA Pharmaceuticals by 5.8% in the 1st quarter. BlackRock Inc. now owns 10,718,708 shares of the biopharmaceutical company’s stock valued at $287,799,000 after buying an additional 585,242 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of ACADIA Pharmaceuticals by 2.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 7,537,393 shares of the biopharmaceutical company’s stock valued at $201,475,000 after acquiring an additional 179,737 shares in the last quarter. First Trust Advisors LP increased its stake in shares of ACADIA Pharmaceuticals by 16.4% in the 1st quarter. First Trust Advisors LP now owns 4,815,776 shares of the biopharmaceutical company’s stock valued at $129,304,000 after acquiring an additional 677,051 shares in the last quarter. Invesco Ltd. increased its stake in shares of ACADIA Pharmaceuticals by 950.3% in the 2nd quarter. Invesco Ltd. now owns 4,015,482 shares of the biopharmaceutical company’s stock valued at $107,334,000 after acquiring an additional 3,633,171 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in shares of ACADIA Pharmaceuticals by 32.1% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,901,850 shares of the biopharmaceutical company’s stock valued at $50,836,000 after acquiring an additional 461,869 shares in the last quarter. 94.85% of the stock is currently owned by hedge funds and other institutional investors.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.

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