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

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) COO Brendan Teehan sold 10,329 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $173,630.49. Following the transaction, the chief operating officer now directly owns 62,105 shares in the company, valued at approximately $1,043,985.05. This trade represents a 14.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD opened at $16.18 on Friday. The company has a market cap of $2.69 billion, a P/E ratio of 20.74 and a beta of 0.38. ACADIA Pharmaceuticals Inc. has a 12 month low of $14.15 and a 12 month high of $32.59. The stock has a fifty day moving average price of $15.61 and a 200 day moving average price of $15.99.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Morgan Stanley cut ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $28.00 to $20.00 in a report on Wednesday, August 7th. Citigroup decreased their price objective on shares of ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. StockNews.com downgraded shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. Finally, Cantor Fitzgerald reduced their price objective on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $25.56.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Arizona State Retirement System increased its stake in ACADIA Pharmaceuticals by 2.2% during the 2nd quarter. Arizona State Retirement System now owns 29,983 shares of the biopharmaceutical company’s stock valued at $487,000 after buying an additional 655 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of ACADIA Pharmaceuticals by 5.6% in the second quarter. Commonwealth Equity Services LLC now owns 14,770 shares of the biopharmaceutical company’s stock valued at $240,000 after buying an additional 778 shares during the period. Swiss National Bank boosted its stake in ACADIA Pharmaceuticals by 0.4% during the first quarter. Swiss National Bank now owns 210,604 shares of the biopharmaceutical company’s stock valued at $3,894,000 after buying an additional 800 shares in the last quarter. Covestor Ltd raised its position in ACADIA Pharmaceuticals by 70.5% in the first quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 840 shares in the last quarter. Finally, Quest Partners LLC lifted its holdings in ACADIA Pharmaceuticals by 42.3% in the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock valued at $54,000 after acquiring an additional 1,047 shares during the last quarter. 96.71% of the stock is owned by institutional investors and hedge funds.

About ACADIA Pharmaceuticals

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.