Insider Buying: ACADIA Pharmaceuticals Inc. (ACAD) Director Purchases 1,210,776 Shares of Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Director Bros. Advisors Lp Baker purchased 1,210,776 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Thursday, September 20th. The stock was acquired at an average price of $18.70 per share, for a total transaction of $22,641,511.20. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

NASDAQ ACAD opened at $21.41 on Wednesday. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of -9.07 and a beta of 3.65. ACADIA Pharmaceuticals Inc. has a 52 week low of $12.77 and a 52 week high of $41.20.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.45) by ($0.06). The company had revenue of $57.06 million for the quarter, compared to analysts’ expectations of $58.63 million. ACADIA Pharmaceuticals had a negative net margin of 135.99% and a negative return on equity of 78.56%. The firm’s revenue for the quarter was up 87.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.55) earnings per share. equities analysts anticipate that ACADIA Pharmaceuticals Inc. will post -2.1 EPS for the current fiscal year.

Several research firms have commented on ACAD. ValuEngine raised shares of ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday. Piper Jaffray Companies began coverage on shares of ACADIA Pharmaceuticals in a research note on Friday, September 21st. They set a “positive” rating for the company. Cantor Fitzgerald set a $25.00 price objective on shares of ACADIA Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, September 20th. BidaskClub lowered shares of ACADIA Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. Finally, Zacks Investment Research raised shares of ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $38.00.

Several institutional investors and hedge funds have recently modified their holdings of ACAD. BlackRock Inc. boosted its stake in shares of ACADIA Pharmaceuticals by 46.4% during the second quarter. BlackRock Inc. now owns 9,735,101 shares of the biopharmaceutical company’s stock valued at $148,654,000 after purchasing an additional 3,085,874 shares during the period. Orbimed Advisors LLC boosted its stake in shares of ACADIA Pharmaceuticals by 28.2% during the second quarter. Orbimed Advisors LLC now owns 4,282,400 shares of the biopharmaceutical company’s stock valued at $65,392,000 after purchasing an additional 941,700 shares during the period. First Trust Advisors LP boosted its stake in shares of ACADIA Pharmaceuticals by 47.7% during the second quarter. First Trust Advisors LP now owns 2,603,446 shares of the biopharmaceutical company’s stock valued at $39,755,000 after purchasing an additional 840,425 shares during the period. Northern Trust Corp boosted its stake in shares of ACADIA Pharmaceuticals by 157.5% during the second quarter. Northern Trust Corp now owns 1,261,535 shares of the biopharmaceutical company’s stock valued at $19,264,000 after purchasing an additional 771,631 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of ACADIA Pharmaceuticals by 662.1% during the first quarter. Millennium Management LLC now owns 661,358 shares of the biopharmaceutical company’s stock valued at $14,861,000 after purchasing an additional 574,577 shares during the period. 92.93% of the stock is 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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