James Kihara Sells 5,401 Shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) insider James Kihara sold 5,401 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $21.18, for a total value of $114,393.18. Following the completion of the sale, the insider owned 24,509 shares of the company’s stock, valued at approximately $519,100.62. This trade represents a 18.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

James Kihara also recently made the following trade(s):

• On Monday, May 4th, James Kihara sold 1,332 shares of ACADIA Pharmaceuticals stock. The shares were sold at an average price of $21.79, for a total value of $29,024.28.
• On Tuesday, April 7th, James Kihara sold 1,030 shares of ACADIA Pharmaceuticals stock. The shares were sold at an average price of $22.20, for a total value of $22,866.00.

ACADIA Pharmaceuticals Stock Up 2.1%

ACAD opened at $21.63 on Friday. The stock has a fifty day moving average of $21.71 and a 200-day moving average of $23.83. The firm has a market capitalization of $3.70 billion, a P/E ratio of 9.83, a PEG ratio of 25.65 and a beta of 0.86. ACADIA Pharmaceuticals Inc. has a 12-month low of $19.69 and a 12-month high of $28.35.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wolfe Research began coverage on shares of ACADIA Pharmaceuticals in a research report on Monday, February 23rd. They set an “outperform” rating and a $33.00 target price on the stock. Mizuho raised ACADIA Pharmaceuticals from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $29.00 to $35.00 in a research note on Monday, February 23rd. Bank of America upgraded shares of ACADIA Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Wednesday, March 25th. TD Cowen increased their price target on ACADIA Pharmaceuticals from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Finally, Citigroup decreased their price objective on ACADIA Pharmaceuticals from $33.00 to $32.00 and set a “buy” rating for the company in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.63.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of ACAD. Royal Bank of Canada grew its position in ACADIA Pharmaceuticals by 74.4% during the 1st quarter. Royal Bank of Canada now owns 80,528 shares of the biopharmaceutical company’s stock worth $1,338,000 after acquiring an additional 34,352 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of ACADIA Pharmaceuticals by 3.8% in the 1st quarter. AQR Capital Management LLC now owns 67,672 shares of the biopharmaceutical company’s stock valued at $1,124,000 after purchasing an additional 2,492 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in ACADIA Pharmaceuticals by 7.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 89,952 shares of the biopharmaceutical company’s stock worth $1,498,000 after buying an additional 6,303 shares during the period. Empowered Funds LLC bought a new position in shares of ACADIA Pharmaceuticals in the first quarter valued at $186,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of ACADIA Pharmaceuticals by 14.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 251,056 shares of the biopharmaceutical company’s stock worth $4,170,000 after purchasing an additional 31,931 shares during the last quarter. 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.