ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) COO Brendan Teehan Sells 10,329 Shares of Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) COO Brendan Teehan sold 10,329 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $173,630.49. Following the transaction, the chief operating officer now directly owns 62,105 shares in the company, valued at $1,043,985.05. The trade was a 14.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

ACADIA Pharmaceuticals Trading Down 4.8 %

ACADIA Pharmaceuticals stock traded down $0.82 during trading hours on Tuesday, reaching $16.21. 1,562,268 shares of the stock were exchanged, compared to its average volume of 1,681,843. ACADIA Pharmaceuticals Inc. has a twelve month low of $14.15 and a twelve month high of $32.59. The company has a market cap of $2.70 billion, a P/E ratio of 20.78 and a beta of 0.38. The stock has a 50 day moving average of $15.60 and a two-hundred day moving average of $15.99.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on ACAD. HC Wainwright reiterated a “buy” rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Citigroup decreased their price target on shares of ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Morgan Stanley downgraded shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $28.00 to $20.00 in a research report on Wednesday, August 7th. StockNews.com downgraded ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, Needham & Company LLC reissued a “buy” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, ACADIA Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $25.56.

Institutional Trading of ACADIA Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp raised its stake in ACADIA Pharmaceuticals by 3.0% during the third quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company’s stock worth $91,878,000 after acquiring an additional 173,084 shares in the last quarter. Fred Alger Management LLC lifted its stake in ACADIA Pharmaceuticals by 17.8% in the 3rd quarter. Fred Alger Management LLC now owns 3,186,389 shares of the biopharmaceutical company’s stock valued at $49,007,000 after purchasing an additional 481,950 shares during the last quarter. Millennium Management LLC lifted its stake in ACADIA Pharmaceuticals by 36.2% in the 2nd quarter. Millennium Management LLC now owns 2,937,714 shares of the biopharmaceutical company’s stock valued at $47,738,000 after purchasing an additional 781,070 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its position in ACADIA Pharmaceuticals by 11.1% in the second quarter. D. E. Shaw & Co. Inc. now owns 2,934,926 shares of the biopharmaceutical company’s stock valued at $47,693,000 after buying an additional 292,906 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of ACADIA Pharmaceuticals by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,875,540 shares of the biopharmaceutical company’s stock worth $44,234,000 after buying an additional 30,826 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors.

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.