ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Director James M. Daly Sells 30,000 Shares

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Director James M. Daly sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $37.80, for a total value of $1,134,000.00. Following the transaction, the director now directly owns 30,000 shares in the company, valued at $1,134,000. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

ACADIA Pharmaceuticals stock traded up $0.17 during midday trading on Wednesday, reaching $41.39. The stock had a trading volume of 3,218,571 shares, compared to its average volume of 1,502,557. The firm has a market capitalization of $5.61 billion, a PE ratio of -21.34 and a beta of 2.75. ACADIA Pharmaceuticals Inc. has a 12 month low of $13.19 and a 12 month high of $43.98. The company has a quick ratio of 6.79, a current ratio of 6.85 and a debt-to-equity ratio of 0.02. The firm’s 50-day moving average price is $27.72 and its 200 day moving average price is $26.31.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.38) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.46) by $0.08. The company had revenue of $83.21 million for the quarter, compared to analysts’ expectations of $72.50 million. ACADIA Pharmaceuticals had a negative net margin of 101.45% and a negative return on equity of 70.97%. ACADIA Pharmaceuticals’s revenue was up 45.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.51) EPS. Equities research analysts expect that ACADIA Pharmaceuticals Inc. will post -1.77 EPS for the current year.

Several brokerages have recently commented on ACAD. Stifel Nicolaus increased their target price on shares of ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the company a “hold” rating in a report on Tuesday, September 3rd. BidaskClub downgraded ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. Cowen reiterated a “buy” rating and set a $66.00 price target on shares of ACADIA Pharmaceuticals in a report on Monday. Raymond James raised their target price on ACADIA Pharmaceuticals from $40.00 to $43.00 and gave the company a “strong-buy” rating in a research report on Friday, May 31st. Finally, Needham & Company LLC lifted their target price on ACADIA Pharmaceuticals from $34.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $42.46.

Several institutional investors have recently bought and sold shares of ACAD. Orbimed Advisors LLC purchased a new stake in ACADIA Pharmaceuticals during the 2nd quarter worth about $2,724,000. University of Notre Dame DU Lac boosted its position in shares of ACADIA Pharmaceuticals by 22.6% in the second quarter. University of Notre Dame DU Lac now owns 144,318 shares of the biopharmaceutical company’s stock valued at $3,858,000 after acquiring an additional 26,565 shares during the period. Pictet Asset Management Ltd. grew its stake in ACADIA Pharmaceuticals by 26.3% during the second quarter. Pictet Asset Management Ltd. now owns 358,500 shares of the biopharmaceutical company’s stock valued at $9,583,000 after acquiring an additional 74,700 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in ACADIA Pharmaceuticals during the second quarter valued at approximately $42,444,000. Finally, Price T Rowe Associates Inc. MD grew its stake in ACADIA Pharmaceuticals by 2.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 7,537,393 shares of the biopharmaceutical company’s stock valued at $201,475,000 after acquiring an additional 179,737 shares in the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.

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