Key Points
- Insider selling: ACADIA Pharmaceuticals insider James Kihara sold 5,401 shares on May 26 at an average price of $21.18, worth about $114,393. He also sold shares in early May and April, reducing his position by 18.06%.
- Stock and earnings update: ACAD shares were down 0.3% and opened at $21.19, near the stock’s 50-day average but below its 200-day average. The company recently reported quarterly EPS of $0.02, missing analyst expectations, while revenue came in at $268.1 million, also below forecasts.
- Analyst and ownership backdrop: Wall Street currently has a Moderate Buy consensus on ACAD with an average price target of $31.63. Institutional investors own 96.71% of the stock, and several funds increased their stakes in the first quarter.
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report) insider James Kihara sold 5,401 shares of the company's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $21.18, for a total value of $114,393.18. Following the completion of the sale, the insider owned 24,509 shares of the company's stock, valued at approximately $519,100.62. The trade was a 18.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
James Kihara also recently made the following trade(s):
- On Monday, May 4th, James Kihara sold 1,332 shares of ACADIA Pharmaceuticals stock. The stock was sold at an average price of $21.79, for a total value of $29,024.28.
- On Tuesday, April 7th, James Kihara sold 1,030 shares of ACADIA Pharmaceuticals stock. The stock was sold at an average price of $22.20, for a total value of $22,866.00.
ACADIA Pharmaceuticals Stock Down 0.3%
Shares of ACAD opened at $21.19 on Thursday. The business has a 50-day simple moving average of $21.69 and a two-hundred day simple moving average of $23.83. The stock has a market cap of $3.63 billion, a price-to-earnings ratio of 9.63, a PEG ratio of 25.74 and a beta of 0.86. ACADIA Pharmaceuticals Inc. has a 52 week low of $19.69 and a 52 week high of $28.35.
ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 EPS 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 analysts' expectations of $280.25 million. ACADIA Pharmaceuticals had a return on equity of 9.61% and a net margin of 34.30%.The business's quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.11 EPS. On average, equities analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.39 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its stake in ACADIA Pharmaceuticals by 27.2% in the 1st quarter. Bank of America Corp DE now owns 1,553,770 shares of the biopharmaceutical company's stock worth $34,587,000 after purchasing an additional 332,325 shares during the period. Stempoint Capital LP bought a new position in ACADIA Pharmaceuticals in the 1st quarter worth approximately $5,400,000. Amundi boosted its stake in ACADIA Pharmaceuticals by 46.6% in the 1st quarter. Amundi now owns 26,753 shares of the biopharmaceutical company's stock worth $596,000 after purchasing an additional 8,508 shares during the period. California State Teachers Retirement System boosted its stake in ACADIA Pharmaceuticals by 9.0% in the 1st quarter. California State Teachers Retirement System now owns 138,244 shares of the biopharmaceutical company's stock worth $3,077,000 after purchasing an additional 11,437 shares during the period. Finally, Empowered Funds LLC bought a new position in ACADIA Pharmaceuticals in the 1st quarter worth approximately $1,090,000. 96.71% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have commented on ACAD. Oppenheimer restated a "market perform" rating on shares of ACADIA Pharmaceuticals in a research report on Friday, February 6th. JPMorgan Chase & Co. upped their price target on ACADIA Pharmaceuticals from $31.00 to $34.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 4th. Wall Street Zen cut ACADIA Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Saturday, January 31st. Citizens Jmp upped their price target on ACADIA Pharmaceuticals from $34.00 to $35.00 and gave the stock a "market outperform" rating in a research report on Thursday, February 26th. Finally, Wolfe Research began coverage on ACADIA Pharmaceuticals in a research note on Monday, February 23rd. They issued an "outperform" rating and a $33.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $31.63.
Get Our Latest Research Report on ACADIA Pharmaceuticals
About ACADIA Pharmaceuticals
(
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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