ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Sees Large Decline in Short Interest

by · The Cerbat Gem

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Get Free Report) saw a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 9,230,000 shares, a decrease of 10.1% from the August 31st total of 10,270,000 shares. Based on an average daily trading volume, of 1,690,000 shares, the short-interest ratio is presently 5.5 days.

Insider Transactions at ACADIA Pharmaceuticals

In related news, COO Brendan Teehan sold 9,534 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $145,679.52. Following the sale, the chief operating officer now owns 52,177 shares of the company’s stock, valued at approximately $797,264.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other ACADIA Pharmaceuticals news, CFO Mark C. Schneyer sold 9,733 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $148,720.24. Following the sale, the chief financial officer now directly owns 43,735 shares of the company’s stock, valued at approximately $668,270.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Brendan Teehan sold 9,534 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $145,679.52. Following the transaction, the chief operating officer now owns 52,177 shares of the company’s stock, valued at $797,264.56. The disclosure for this sale can be found here. Insiders sold 51,014 shares of company stock valued at $779,494 over the last three months. Company insiders own 28.30% of the company’s stock.

Institutional Trading of ACADIA Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Covestor Ltd increased its holdings in shares of ACADIA Pharmaceuticals by 70.5% during the first quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 840 shares during the period. Headlands Technologies LLC acquired a new stake in ACADIA Pharmaceuticals during the first quarter worth approximately $48,000. Stonepine Capital Management LLC bought a new position in ACADIA Pharmaceuticals during the 2nd quarter worth $81,000. Acadian Asset Management LLC acquired a new position in ACADIA Pharmaceuticals in the 2nd quarter valued at $111,000. Finally, Quarry LP lifted its position in shares of ACADIA Pharmaceuticals by 34.3% during the 2nd quarter. Quarry LP now owns 8,055 shares of the biopharmaceutical company’s stock valued at $131,000 after acquiring an additional 2,055 shares during the period. Institutional investors and hedge funds own 96.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ACAD. BMO Capital Markets initiated coverage on ACADIA Pharmaceuticals in a research report on Thursday, June 27th. They set an “outperform” rating and a $31.00 price target for the company. UBS Group cut their price objective on ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Cantor Fitzgerald lowered their target price on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Needham & Company LLC cut their price target on shares of ACADIA Pharmaceuticals from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada decreased their price objective on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.56.

Check Out Our Latest Report on ACAD

ACADIA Pharmaceuticals Trading Down 2.0 %

Shares of NASDAQ ACAD opened at $15.38 on Tuesday. The firm has a market cap of $2.54 billion, a P/E ratio of -1,538.00, a price-to-earnings-growth ratio of 0.55 and a beta of 0.40. The business’s 50 day moving average is $16.52 and its 200-day moving average is $16.54. ACADIA Pharmaceuticals has a 1-year low of $14.55 and a 1-year high of $32.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.02. The firm had revenue of $241.96 million for the quarter, compared to analysts’ expectations of $235.95 million. ACADIA Pharmaceuticals had a return on equity of 6.89% and a net margin of 3.43%. The company’s quarterly revenue was up 46.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.01 EPS. Analysts forecast that ACADIA Pharmaceuticals will post 0.52 EPS for the current year.

ACADIA Pharmaceuticals Company Profile

(Get Free Report)

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization innovative medicines that address unmet medical needs in central nervous system (CNS) disorders and rare diseases in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for treatment of Rett Syndrome.

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