Key Points
- Insider sale: James Kihara sold 1,030 ACAD shares on April 7 at an average price of $22.20 for $22,866, reducing his holding by 3.56% to 27,865 shares valued at about $618,603.
- Strong quarterly results: On Feb. 26 ACADIA reported $1.60 EPS versus a $0.12 estimate and $298M revenue (up 9.4% YoY), while the stock trades near $22 with a $3.77B market cap and a 52-week range of $13.40–$28.35.
- Institutional and analyst support: Institutional investors own ~96.7% of shares with several large new stakes, and analysts rate the stock a "Moderate Buy" with a consensus target of $31.21 and multiple price targets in the mid-$30s.
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report) insider James Kihara sold 1,030 shares of the firm's stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $22.20, for a total transaction of $22,866.00. Following the completion of the transaction, the insider directly owned 27,865 shares of the company's stock, valued at $618,603. This represents a 3.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
ACADIA Pharmaceuticals Stock Down 1.0%
Shares of ACAD stock opened at $22.09 on Wednesday. The firm has a 50 day moving average of $22.75 and a two-hundred day moving average of $23.80. The stock has a market capitalization of $3.77 billion, a PE ratio of 9.65, a P/E/G ratio of 22.07 and a beta of 0.83. ACADIA Pharmaceuticals Inc. has a 52 week low of $13.40 and a 52 week high of $28.35.
ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $1.48. The business had revenue of $298.00 million during the quarter, compared to analysts' expectations of $292.54 million. ACADIA Pharmaceuticals had a return on equity of 12.49% and a net margin of 36.49%.The business's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 EPS. Analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.
Institutional Investors Weigh In On ACADIA Pharmaceuticals
Several institutional investors have recently added to or reduced their stakes in ACAD. Braidwell LP purchased a new stake in ACADIA Pharmaceuticals in the third quarter valued at $50,760,000. Norges Bank purchased a new stake in ACADIA Pharmaceuticals in the fourth quarter valued at $40,266,000. Millennium Management LLC lifted its position in ACADIA Pharmaceuticals by 2,052.1% in the third quarter. Millennium Management LLC now owns 1,483,235 shares of the biopharmaceutical company's stock valued at $31,652,000 after acquiring an additional 1,414,315 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in ACADIA Pharmaceuticals by 390.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,648,864 shares of the biopharmaceutical company's stock valued at $35,187,000 after acquiring an additional 1,312,426 shares during the last quarter. Finally, Logos Global Management LP purchased a new stake in ACADIA Pharmaceuticals in the fourth quarter valued at $22,704,000. Hedge funds and other institutional investors own 96.71% of the company's stock.
Analysts Set New Price Targets
ACAD has been the subject of several recent research reports. Citizens Jmp lifted their price objective on ACADIA Pharmaceuticals from $34.00 to $35.00 and gave the company a "market outperform" rating in a research note on Thursday, February 26th. Piper Sandler set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Tuesday, December 16th. Oppenheimer reaffirmed a "market perform" rating on shares of ACADIA Pharmaceuticals in a research report on Friday, February 6th. 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 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of ACADIA Pharmaceuticals from $31.00 to $34.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $31.21.
View Our Latest Stock Report on ACADIA Pharmaceuticals
ACADIA Pharmaceuticals Company Profile
(
Get Free Report)
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.
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