ACADIA Pharmaceuticals (NASDAQ:ACAD) EVP Mark 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 Schneyer sold 22,000 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $25.18, for a total value of $553,960.00. Following the completion of the sale, the executive vice president directly owned 40,130 shares of the company's stock, valued at $1,010,473.40. The trade was a 35.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

ACADIA Pharmaceuticals Price Performance

Shares of ACADIA Pharmaceuticals stock traded down $0.09 during trading hours on Tuesday, hitting $24.97. 1,462,300 shares of the company's stock traded hands, compared to its average volume of 1,858,935. ACADIA Pharmaceuticals Inc. has a 12-month low of $13.40 and a 12-month high of $25.88. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 6.38 and a beta of 0.70. The company has a fifty day simple moving average of $22.83 and a 200-day simple moving average of $19.58.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. The company had revenue of $264.57 million during the quarter, compared to the consensus estimate of $263.07 million. ACADIA Pharmaceuticals had a return on equity of 14.69% and a net margin of 21.80%.The firm's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.20 EPS. On average, analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ACAD. Cantor Fitzgerald raised ACADIA Pharmaceuticals to a "strong-buy" rating in a report on Thursday, June 5th. Robert W. Baird lifted their price target on ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. Royal Bank Of Canada lifted their price objective on ACADIA Pharmaceuticals from $39.00 to $40.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Needham & Company LLC reiterated a "buy" rating and issued a $30.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, June 26th. Finally, The Goldman Sachs Group lifted their price target on ACADIA Pharmaceuticals from $15.00 to $17.00 and gave the company a "sell" rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, ACADIA Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $28.88.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC bought a new position in ACADIA Pharmaceuticals during the first quarter valued at approximately $29,000. Banque Transatlantique SA purchased a new position in ACADIA Pharmaceuticals during the 1st quarter worth $31,000. Picton Mahoney Asset Management bought a new stake in ACADIA Pharmaceuticals during the 1st quarter valued at $32,000. Federated Hermes Inc. boosted its position in ACADIA Pharmaceuticals by 231.5% during the 1st quarter. Federated Hermes Inc. now owns 2,317 shares of the biopharmaceutical company's stock valued at $38,000 after acquiring an additional 1,618 shares in the last quarter. Finally, Virtus Fund Advisers LLC bought a new stake in ACADIA Pharmaceuticals during the 4th quarter valued at $39,000. 96.71% of the stock is 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.

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