Insider Selling: ACADIA Pharmaceuticals (NASDAQ:ACAD) EVP Sells 16,558 Shares

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) EVP Elizabeth H.Z. Thompson sold 16,558 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $26.13, for a total value of $432,660.54. Following the sale, the executive vice president directly owned 18,994 shares in the company, valued at $496,313.22. The trade was a 46.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

ACADIA Pharmaceuticals Stock Performance

ACAD stock traded down $0.68 during midday trading on Friday, hitting $25.87. 1,534,198 shares of the company’s stock were exchanged, compared to its average volume of 1,651,378. ACADIA Pharmaceuticals Inc. has a one year low of $19.69 and a one year high of $28.35. The company has a market cap of $4.43 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 18.26 and a beta of 0.80. The stock’s fifty day moving average price is $23.65 and its 200-day moving average price is $23.21.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). ACADIA Pharmaceuticals had a return on equity of 9.61% and a net margin of 34.30%.The business had revenue of $268.10 million during the quarter, compared to the consensus estimate of $280.25 million. During the same quarter last year, the company earned $0.11 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year. On average, analysts expect that ACADIA Pharmaceuticals Inc. will post 0.39 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ACAD shares. Stifel Nicolaus lifted their price target on shares of ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the company a “hold” rating in a research note on Tuesday, July 21st. HC Wainwright downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Canaccord Genuity Group raised their price objective on shares of ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Bank of America reaffirmed a “buy” rating and issued a $14.50 price objective on shares of ACADIA Pharmaceuticals in a research report on Wednesday. Finally, BMO Capital Markets upped their target price on shares of ACADIA Pharmaceuticals from $34.00 to $36.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 21st. Thirteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $32.31.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Several institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth approximately $40,266,000. Millennium Management LLC lifted its position in shares of ACADIA Pharmaceuticals by 2,052.1% in the third quarter. Millennium Management LLC now owns 1,483,235 shares of the biopharmaceutical company’s stock worth $31,652,000 after purchasing an additional 1,414,315 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in ACADIA Pharmaceuticals by 390.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,648,864 shares of the biopharmaceutical company’s stock worth $35,187,000 after purchasing an additional 1,312,426 shares during the last quarter. First Trust Advisors LP boosted its holdings in ACADIA Pharmaceuticals by 47.3% during the first quarter. First Trust Advisors LP now owns 3,343,868 shares of the biopharmaceutical company’s stock worth $74,435,000 after purchasing an additional 1,073,834 shares during the last quarter. Finally, Logos Global Management LP bought a new position in ACADIA Pharmaceuticals in the fourth quarter valued at $22,704,000. Institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.