Acadia Pharmaceuticals (ACAD) Shares Up -2%

Acadia Pharmaceuticals (NASDAQ:ACAD)’s share price shot up 2% on Thursday . The stock traded as high as $19.47 and last traded at $18.71. 1,836,009 shares traded hands during trading, a decline of 27% from the average session volume of 2,499,451 shares. The stock had previously closed at $19.10.

Several research firms have recently weighed in on ACAD. BidaskClub downgraded Acadia Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday. JPMorgan Chase set a $50.00 target price on Acadia Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday. ValuEngine downgraded Acadia Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, March 23rd. Finally, Zacks Investment Research downgraded Acadia Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, January 15th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. Acadia Pharmaceuticals has an average rating of “Hold” and a consensus target price of $49.50.

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The stock has a market cap of $2,212.21, a P/E ratio of -8.19 and a beta of 3.43.

Acadia Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($0.55) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.58) by $0.03. The company had revenue of $43.56 million for the quarter, compared to the consensus estimate of $45.30 million. Acadia Pharmaceuticals had a negative return on equity of 73.02% and a negative net margin of 231.71%. research analysts forecast that Acadia Pharmaceuticals will post -1.82 EPS for the current year.

In other news, EVP Glenn Baity sold 36,558 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $32.39, for a total transaction of $1,184,113.62. Following the transaction, the executive vice president now owns 83,734 shares of the company’s stock, valued at approximately $2,712,144.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel B. Soland purchased 7,000 shares of the company’s stock in a transaction dated Thursday, March 1st. The shares were purchased at an average cost of $23.91 per share, for a total transaction of $167,370.00. Following the transaction, the director now directly owns 2,000 shares in the company, valued at approximately $47,820. The disclosure for this purchase can be found here. Corporate insiders own 22.25% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Acadia Pharmaceuticals by 30.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,403 shares of the biopharmaceutical company’s stock worth $223,000 after buying an additional 1,733 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its position in shares of Acadia Pharmaceuticals by 56.8% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,509 shares of the biopharmaceutical company’s stock worth $247,000 after buying an additional 2,358 shares in the last quarter. California Public Employees Retirement System grew its position in shares of Acadia Pharmaceuticals by 1.9% during the 3rd quarter. California Public Employees Retirement System now owns 153,200 shares of the biopharmaceutical company’s stock worth $5,771,000 after buying an additional 2,800 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Acadia Pharmaceuticals by 0.8% during the 4th quarter. Bank of New York Mellon Corp now owns 456,482 shares of the biopharmaceutical company’s stock worth $13,746,000 after buying an additional 3,786 shares in the last quarter. Finally, Swiss National Bank lifted its stake in shares of Acadia Pharmaceuticals by 2.4% during the 4th quarter. Swiss National Bank now owns 166,804 shares of the biopharmaceutical company’s stock worth $5,022,000 after purchasing an additional 3,900 shares during the last quarter. 96.24% of the stock is currently owned by institutional investors and hedge funds.

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Acadia Pharmaceuticals Company Profile

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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