SAN DIEGO—Brendan Teehan, Executive Vice President, Chief Operating Officer, and Head of Commercial at Acadia Pharmaceuticals Inc. (NASDAQ:ACAD), recently reported a sale of company shares. On November 19, Teehan sold 10,329 shares of common stock, generating approximately $173,630. The shares were sold at a weighted average price of $16.81, with individual transaction prices ranging from $16.7947 to $16.81.
Earlier, on November 17, Teehan acquired 19,826 shares of common stock through the exercise of restricted stock units, which were acquired at no cost. Following these transactions, Teehan now holds 62,105 shares of Acadia Pharmaceuticals directly. The mandatory sale was conducted to cover withholding taxes related to the vesting of restricted stock units.
In other recent news, ACADIA Pharmaceuticals (NASDAQ:ACAD) reported its third-quarter 2024 earnings, with a focus on the robust performance of its commercial franchises, DAYBUE and NUPLAZID. The company's leadership, including CEO Catherine Owen-Adams, COO Brendan Teehan, EVP Liz Thompson, and CFO Mark Schneyer, led the earnings call and provided updates on the company's pipeline program. ACADIA expressed confidence in the continued market performance of DAYBUE and NUPLAZID, and indicated optimism about ongoing research and development efforts. No specific challenges or misses were disclosed during the call. The Q&A session provided further insights into the company's performance and strategic direction. While the call did not specify any bearish trends, it reflected confidence in ACADIA's current position and future prospects. These are the recent developments for ACADIA Pharmaceuticals.
InvestingPro Insights
While Brendan Teehan's recent stock transactions provide insight into executive activity, a broader look at Acadia Pharmaceuticals' financial health reveals promising indicators. According to InvestingPro data, the company's market capitalization stands at $2.7 billion, with a P/E ratio of 20.84, suggesting a reasonable valuation relative to earnings.
Acadia's financial strength is underscored by several InvestingPro Tips. The company holds more cash than debt on its balance sheet, indicating a solid financial position. This is particularly relevant given Teehan's recent stock sale, as it suggests the transaction is not likely due to concerns about the company's liquidity. Additionally, Acadia's liquid assets exceed short-term obligations, further reinforcing its financial stability.
The company's growth prospects also appear positive. Revenue growth for the last twelve months as of Q3 2024 was an impressive 47.06%, with quarterly revenue growth in Q3 2024 at 18.28%. This aligns with the InvestingPro Tip that net income is expected to grow this year, potentially explaining why nine analysts have revised their earnings upwards for the upcoming period.
Investors seeking more comprehensive analysis can access additional insights through InvestingPro, which offers 9 more tips for Acadia Pharmaceuticals, providing a deeper understanding of the company's financial outlook and market position.
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