ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock: Insider Mark Schneyer Sells 3,321 Shares

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) EVP Mark Schneyer sold 3,321 shares of the firm’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $20.88, for a total value of $69,342.48. Following the sale, the executive vice president owned 71,322 shares of the company’s stock, valued at $1,489,203.36. This represents a 4.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ ACAD opened at $20.59 on Friday. ACADIA Pharmaceuticals Inc. has a 1 year low of $18.39 and a 1 year high of $30.96. The stock’s 50-day simple moving average is $23.74 and its 200-day simple moving average is $23.73. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 9.27 and a beta of 0.88.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.11. ACADIA Pharmaceuticals had a return on equity of 9.03% and a net margin of 33.42%. The firm had revenue of $308.00 million during the quarter, compared to the consensus estimate of $296.55 million. During the same quarter in the prior year, the business posted $0.16 earnings per share. ACADIA Pharmaceuticals’s revenue for the quarter was up 16.4% on a year-over-year basis. As a group, research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.64 EPS for the current year.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of ACADIA Pharmaceuticals during the second quarter valued at approximately $569,634,000. Palo Alto Investors LP acquired a new stake in shares of ACADIA Pharmaceuticals during the 2nd quarter worth approximately $72,461,629. Bank of America Corp DE bought a new stake in shares of ACADIA Pharmaceuticals in the 2nd quarter worth approximately $32,900,000. First Trust Advisors LP lifted its holdings in shares of ACADIA Pharmaceuticals by 47.3% in the 1st quarter. First Trust Advisors LP now owns 3,343,868 shares of the biopharmaceutical company’s stock worth $74,435,000 after purchasing an additional 1,073,834 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of ACADIA Pharmaceuticals in the 2nd quarter worth approximately $19,244,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

Analyst Ratings Changes

ACAD has been the subject of several research analyst reports. UBS Group downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $49.00 to $23.00 in a research report on Tuesday, October 13th. Morgan Stanley increased their price target on shares of ACADIA Pharmaceuticals from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 25th. Needham & Company LLC reiterated a “buy” rating and issued a $35.00 price target on shares of ACADIA Pharmaceuticals in a research note on Monday, October 19th. Oppenheimer reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Wednesday, September 23rd. Finally, Bank of America restated a “buy” rating and set a $14.50 price objective on shares of ACADIA Pharmaceuticals in a research note on Wednesday, July 29th. Thirteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.34.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system and neuropsychiatric disorders. The company’s research programs target conditions with significant unmet medical needs, including neurological and rare neurodevelopmental diseases.

ACADIA’s commercial products include NUPLAZID (pimavanserin), an atypical antipsychotic approved in the United States to treat hallucinations and delusions associated with Parkinson’s disease psychosis.