ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Short Interest Update

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totaling 10,638,508 shares, an increase of 23.4% from the March 15th total of 8,624,024 shares. Based on an average daily trading volume, of 2,158,686 shares, the short-interest ratio is currently 4.9 days. Approximately 8.5% of the shares of the stock are short sold.

ACADIA Pharmaceuticals Price Performance

NASDAQ ACAD opened at $21.25 on Friday. The firm’s 50-day moving average is $22.32 and its two-hundred day moving average is $23.76. ACADIA Pharmaceuticals has a 12 month low of $14.08 and a 12 month high of $28.35. The stock has a market capitalization of $3.62 billion, a P/E ratio of 9.28, a PEG ratio of 21.68 and a beta of 0.83.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $1.48. ACADIA Pharmaceuticals had a return on equity of 12.49% and a net margin of 36.49%.The company had revenue of $298.00 million for the quarter, compared to analysts’ expectations of $292.54 million. During the same period in the prior year, the firm earned $0.86 earnings per share. The firm’s revenue was up 9.4% compared to the same quarter last year. As a group, analysts anticipate that ACADIA Pharmaceuticals will post 0.7 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. UBS Group increased their price target on ACADIA Pharmaceuticals from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Wall Street Zen cut ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Citigroup raised their price objective on ACADIA Pharmaceuticals from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. JPMorgan Chase & Co. raised their target price on ACADIA Pharmaceuticals from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 4th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $34.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, ACADIA Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $31.21.

Insider Buying and Selling

In related news, EVP Jennifer J. Rhodes sold 6,950 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $23.38, for a total transaction of $162,491.00. Following the completion of the transaction, the executive vice president directly owned 7,609 shares of the company’s stock, valued at approximately $177,898.42. This represents a 47.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark C. Schneyer sold 2,709 shares of the stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $22.20, for a total value of $60,139.80. Following the transaction, the executive vice president directly owned 62,836 shares of the company’s stock, valued at approximately $1,394,959.20. The trade was a 4.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 10,689 shares of company stock valued at $245,497. 26.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Several hedge funds have recently made changes to their positions in the business. State Street Corp lifted its position in ACADIA Pharmaceuticals by 9.0% in the fourth quarter. State Street Corp now owns 7,910,733 shares of the biopharmaceutical company’s stock valued at $211,296,000 after purchasing an additional 655,257 shares during the period. Geode Capital Management LLC lifted its position in shares of ACADIA Pharmaceuticals by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 3,239,451 shares of the biopharmaceutical company’s stock valued at $86,539,000 after acquiring an additional 106,807 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of ACADIA Pharmaceuticals by 4.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,920,974 shares of the biopharmaceutical company’s stock valued at $78,019,000 after acquiring an additional 122,840 shares during the period. Braidwell LP acquired a new stake in shares of ACADIA Pharmaceuticals during the 3rd quarter valued at approximately $50,760,000. Finally, Marshall Wace LLP lifted its position in shares of ACADIA Pharmaceuticals by 19.8% during the 3rd quarter. Marshall Wace LLP now owns 2,358,881 shares of the biopharmaceutical company’s stock valued at $50,339,000 after acquiring an additional 389,170 shares during the period. Institutional investors and hedge funds own 96.71% of the company’s stock.

About ACADIA Pharmaceuticals

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.