ACADIA Pharmaceuticals (NASDAQ:ACAD) EVP Mark C. Schneyer Sells 22,000 Shares

Key Points

• Mark Schneyer, EVP of ACADIA Pharmaceuticals, sold 22,000 shares at an average price of $25.18, significantly reducing his ownership by 35.41%.
• The company's recent quarterly earnings showed a profit of $0.16 per share, beating estimates, and marking a 9.4% year-over-year revenue increase.
• ACADIA Pharmaceuticals has received favorable ratings from analysts, with a consensus price target of $28.88 and most analysts rating the stock as either a Buy or Strong Buy.

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report) EVP Mark C. Schneyer sold 22,000 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $25.18, for a total transaction of $553,960.00. Following the transaction, the executive vice president directly owned 40,130 shares in the company, valued at approximately $1,010,473.40. The trade was a 35.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

ACADIA Pharmaceuticals Stock Up 3.9%

Shares of NASDAQ ACAD traded up $0.96 during trading on Friday, reaching $25.74. 3,415,260 shares of the stock were exchanged, compared to its average volume of 1,963,269. The business's 50-day moving average price is $23.02 and its 200 day moving average price is $19.72. ACADIA Pharmaceuticals Inc. has a twelve month low of $13.40 and a twelve month high of $25.88. The company has a market capitalization of $4.34 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 6.55 and a beta of 0.70.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last posted its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. The business had revenue of $264.57 million for the quarter, compared to analysts' expectations of $263.07 million. ACADIA Pharmaceuticals had a net margin of 21.80% and a return on equity of 14.69%. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.20 earnings per share. As a group, sell-side analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ACAD shares. BMO Capital Markets lifted their price target on shares of ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. Cantor Fitzgerald upgraded ACADIA Pharmaceuticals to a "strong-buy" rating in a research note on Thursday, June 5th. Citigroup restated an "outperform" rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 7th. Robert W. Baird upped their price objective on ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Finally, Bank of America lifted their price objective on shares of ACADIA Pharmaceuticals from $18.00 to $23.00 and gave the stock a "hold" rating in a report on Thursday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $28.88.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in ACAD. Assenagon Asset Management S.A. bought a new stake in ACADIA Pharmaceuticals in the first quarter valued at $60,845,000. Point72 Asset Management L.P. bought a new stake in ACADIA Pharmaceuticals in the fourth quarter valued at $40,935,000. Marshall Wace LLP lifted its stake in ACADIA Pharmaceuticals by 496.2% in the second quarter. Marshall Wace LLP now owns 1,969,711 shares of the biopharmaceutical company's stock valued at $42,487,000 after buying an additional 1,639,315 shares during the last quarter. American Century Companies Inc. lifted its stake in ACADIA Pharmaceuticals by 1,055.8% in the first quarter. American Century Companies Inc. now owns 1,632,749 shares of the biopharmaceutical company's stock valued at $27,120,000 after buying an additional 1,491,484 shares during the last quarter. Finally, Norges Bank bought a new stake in ACADIA Pharmaceuticals in the second quarter valued at $31,679,000. 96.71% of the stock is currently owned by institutional investors.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization innovative medicines that address unmet medical needs in central nervous system (CNS) disorders and rare diseases in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for treatment of Rett Syndrome.