ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) EVP Michael J. Yang Sells 105,479 Shares

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ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) EVP Michael J. Yang sold 105,479 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $44.46, for a total value of $4,689,596.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Shares of ACAD traded down $0.18 during mid-day trading on Friday, reaching $44.34. The company had a trading volume of 1,346,760 shares, compared to its average volume of 1,592,080. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.89 and a current ratio of 10.96. The firm has a 50-day moving average price of $45.07 and a 200 day moving average price of $34.02. ACADIA Pharmaceuticals Inc. has a 52 week low of $14.01 and a 52 week high of $53.70. The company has a market capitalization of $6.93 billion, a price-to-earnings ratio of -22.86 and a beta of 2.81.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.11. ACADIA Pharmaceuticals had a negative return on equity of 50.15% and a negative net margin of 82.48%. The firm had revenue of $94.59 million for the quarter, compared to analysts’ expectations of $88.49 million. During the same period in the previous year, the firm posted ($0.50) EPS. The business’s revenue for the quarter was up 62.2% compared to the same quarter last year. As a group, research analysts forecast that ACADIA Pharmaceuticals Inc. will post -1.62 earnings per share for the current fiscal year.

A number of research analysts have weighed in on ACAD shares. Oppenheimer started coverage on ACADIA Pharmaceuticals in a report on Thursday, October 24th. They set a “market perform” rating and a $44.00 target price on the stock. Zacks Investment Research upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Wednesday, November 6th. Canaccord Genuity upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and upped their target price for the stock from $29.00 to $50.00 in a report on Tuesday, September 10th. Piper Jaffray Companies upped their target price on ACADIA Pharmaceuticals from $35.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $60.00 target price on shares of ACADIA Pharmaceuticals in a report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. ACADIA Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $51.73.

Several institutional investors and hedge funds have recently modified their holdings of ACAD. AdvisorNet Financial Inc bought a new stake in shares of ACADIA Pharmaceuticals in the 3rd quarter worth approximately $27,000. North Star Investment Management Corp. bought a new stake in shares of ACADIA Pharmaceuticals in the 3rd quarter worth approximately $32,000. Coastal Investment Advisors Inc. bought a new stake in shares of ACADIA Pharmaceuticals in the 3rd quarter worth approximately $36,000. Whittier Trust Co. bought a new stake in shares of ACADIA Pharmaceuticals in the 3rd quarter worth approximately $39,000. Finally, Steward Partners Investment Advisory LLC bought a new position in ACADIA Pharmaceuticals in the 2nd quarter valued at approximately $42,000. 94.49% of the stock is currently 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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