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SAN DIEGO—Kihara James, the Principal Accounting Officer at Acadia Pharmaceuticals Inc. (NASDAQ:ACAD), recently executed a series of stock transactions, according to a filing with the Securities and Exchange Commission. The transactions come as the company's stock trades near its 52-week low of $13.87, with InvestingPro analysis indicating the stock is currently undervalued.
On April 8, James sold 1,028 shares of Acadia's common stock at an average price of $14.82 per share, totaling approximately $15,234. This sale was conducted to cover withholding taxes and other tax-related items associated with the vesting of restricted stock units.
Earlier, on April 5, James acquired 2,010 shares of common stock through the vesting of restricted stock units. These units were awarded at no cost, reflecting a common practice for compensating executives.
Following these transactions, James holds 22,257 shares of Acadia Pharmaceuticals. The company, based in San Diego, specializes in pharmaceutical preparations and continues to develop new therapies in the life sciences sector.
In other recent news, Acadia Pharmaceuticals reported strong financial results for the fourth quarter of 2024, with a 12% increase in revenue year-over-year, reaching $259.6 million. The company's total revenue for 2024 was $957.8 million, marking a 32% increase from the previous year, driven by significant sales growth of its products DAYBUE and NUPLAZID. TD Cowen maintained a Buy rating on Acadia Pharmaceuticals with a price target of $35, following the company's earnings report, which exceeded expectations. In contrast, Citizens JMP adjusted its price target for Acadia shares to $37 from $39, while retaining a Market Outperform rating, citing revised projections for DAYBUE in 2025.
Acadia Pharmaceuticals has also announced the publication of a study supporting the safety and tolerability of DAYBUE for treating Rett syndrome in young children, which contributed to the FDA's approval of the drug. Additionally, the company continues to advance its clinical pipeline with plans to initiate a Phase 2 trial for '204 in Lewy Body Dementia and release topline results for a Phase 3 trial in Prader-Willi Syndrome in 2026. Acadia's recent inducement awards to new employees, comprising stock options and restricted stock units, are part of its strategy to attract and retain talent.
These developments reflect Acadia's efforts to strengthen its market position and expand its treatment options in the neurological and rare disease markets. The company projects 2025 revenue between $1.03 billion and $1.095 billion, with plans to expand its sales force and prepare for international market entry.
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