Glenn Baity Sells 38,097 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Stock
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) EVP Glenn Baity sold 38,097 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $30.00, for a total transaction of $1,142,910.00. Following the completion of the transaction, the executive vice president now owns 109,253 shares of the company’s stock, valued at $3,277,590. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Glenn Baity also recently made the following trade(s):
- On Thursday, June 22nd, Glenn Baity sold 1,903 shares of ACADIA Pharmaceuticals stock. The stock was sold at an average price of $30.00, for a total transaction of $57,090.00.
ACADIA Pharmaceuticals Inc. (ACAD) traded up 1.13% during midday trading on Friday, hitting $30.43. The stock had a trading volume of 1,204,332 shares. The firm has a 50-day moving average of $27.92 and a 200 day moving average of $32.16. ACADIA Pharmaceuticals Inc. has a 52-week low of $20.68 and a 52-week high of $40.83. The firm’s market capitalization is $3.71 billion.
ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.72) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.73) by $0.01. ACADIA Pharmaceuticals had a negative net margin of 948.93% and a negative return on equity of 63.07%. The firm had revenue of $15.30 million during the quarter, compared to analysts’ expectations of $15.17 million. During the same quarter last year, the company posted ($0.45) earnings per share. On average, equities analysts forecast that ACADIA Pharmaceuticals Inc. will post ($2.82) EPS for the current year.
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Several hedge funds and other institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its position in shares of ACADIA Pharmaceuticals by 23.0% in the first quarter. Envestnet Asset Management Inc. now owns 3,296 shares of the biopharmaceutical company’s stock valued at $113,000 after buying an additional 617 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of ACADIA Pharmaceuticals during the fourth quarter valued at about $145,000. PNC Financial Services Group Inc. boosted its position in shares of ACADIA Pharmaceuticals by 138.8% in the first quarter. PNC Financial Services Group Inc. now owns 4,384 shares of the biopharmaceutical company’s stock valued at $150,000 after buying an additional 2,548 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of ACADIA Pharmaceuticals by 12.8% in the first quarter. Nisa Investment Advisors LLC now owns 4,510 shares of the biopharmaceutical company’s stock valued at $155,000 after buying an additional 510 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of ACADIA Pharmaceuticals during the first quarter valued at about $161,000. 97.13% of the stock is owned by hedge funds and other institutional investors.
ACAD has been the subject of a number of recent analyst reports. HC Wainwright restated a “buy” rating on shares of ACADIA Pharmaceuticals in a report on Wednesday, May 10th. Zacks Investment Research upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Tuesday, July 11th. BidaskClub upgraded shares of ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 21st. Rodman & Renshaw reiterated a “buy” rating and set a $60.00 target price on shares of ACADIA Pharmaceuticals in a research note on Monday, May 22nd. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $47.00 target price on shares of ACADIA Pharmaceuticals in a research note on Wednesday, April 12th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $42.14.
About ACADIA Pharmaceuticals
ACADIA Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system (CNS) disorders. Its lead drug candidate, NUPLAZID (pimavanserin), is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis (PD Psychosis).
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