Insider Selling: ACADIA Pharmaceuticals (NASDAQ:ACAD) EVP Sells $432,660.54 in Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) EVP Elizabeth H.Z. Thompson sold 16,558 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $26.13, for a total value of $432,660.54. Following the completion of the transaction, the executive vice president owned 18,994 shares of the company’s stock, valued at $496,313.22. The trade was a 46.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

ACADIA Pharmaceuticals Stock Performance

ACAD traded down $0.68 on Friday, hitting $25.87. 1,534,198 shares of the company were exchanged, compared to its average volume of 1,651,378. ACADIA Pharmaceuticals Inc. has a 12 month low of $19.69 and a 12 month high of $28.35. The company has a market cap of $4.43 billion, a PE ratio of 11.76, a PEG ratio of 18.26 and a beta of 0.80. The stock’s fifty day moving average is $23.65 and its 200-day moving average is $23.21.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its position in ACADIA Pharmaceuticals by 25.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 658,813 shares of the biopharmaceutical company’s stock worth $17,320,000 after purchasing an additional 133,393 shares during the period. Norges Bank bought a new position in shares of ACADIA Pharmaceuticals during the fourth quarter worth approximately $40,266,000. Jupiter Asset Management Ltd. boosted its stake in ACADIA Pharmaceuticals by 30.4% in the 4th quarter. Jupiter Asset Management Ltd. now owns 621,049 shares of the biopharmaceutical company’s stock valued at $16,588,000 after purchasing an additional 144,732 shares during the period. Geode Capital Management LLC boosted its stake in ACADIA Pharmaceuticals by 3.4% in 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 purchasing an additional 106,807 shares during the period. Finally, UBS Group AG grew its holdings in ACADIA Pharmaceuticals by 15.7% in the 4th quarter. UBS Group AG now owns 769,392 shares of the biopharmaceutical company’s stock valued at $20,550,000 after buying an additional 104,546 shares in the last quarter. 96.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Bank of America reissued a “buy” rating and issued a $14.50 target price on shares of ACADIA Pharmaceuticals in a research note on Wednesday. Citigroup increased their price target on shares of ACADIA Pharmaceuticals from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Stifel Nicolaus lifted their price objective on shares of ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Monday, June 29th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of ACADIA Pharmaceuticals in a report on Wednesday. Thirteen analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.31.

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.