Acadia Pharmaceuticals Inc. (ACAD) saw its shares take a dip on Tuesday, dropping by 4.11% to $15.62. This downward movement followed the company’s announcement that Catherine Owen Adams has been appointed as the new CEO, succeeding Steve Davis.
Adams brings a wealth of experience to the role, having held leadership positions at both Bristol Myers Squibb and Johnson & Johnson. Her track record includes overseeing significant growth and successful product launches. Acadia’s board of directors expressed their confidence in Adams’ ability to lead the company through its next phase of growth, highlighting her strategic vision and commitment to patient outcomes.
Steve Davis, the outgoing CEO, was also recognized for his contributions, particularly in the approval and commercialization of two key products: NUPLAZID and DAYBUE.
Investors are now looking closely at how Adams will guide Acadia’s future. While the company does not currently pay dividends, it has various options for returning value to shareholders. Analyzing valuation metrics, price action, and the company’s capital allocation programs can help investors make informed decisions about whether or not to invest in ACAD.
Looking at recent news on ACADIA Pharmaceuticals can also provide insights into whether the company has approved a buyback program, a mechanism that can provide support for share prices. Benzinga Pro data indicates that ACAD’s stock has traded within a range of $14.55 to $32.59 over the past year.
