ACADIA Pharmaceuticals (NASDAQ:ACAD) EVP Sells $60,139.80 in Stock

Key Points

• Insider sale: ACADIA EVP Mark Schneyer sold 2,709 shares at an average price of $22.20 on April 7 for $60,139.80, reducing his ownership by 4.13% to 62,836 shares, as disclosed in an SEC Form 4.
• Strong quarterly results and analyst sentiment: The company reported Q EPS of $1.60 (vs. $0.12 est.) and $298M revenue, and analysts have largely upgraded the stock to produce a consensus "Moderate Buy" with an average price target of $31.21.
• Market snapshot: Shares traded around $22.09 (down ~1%), ACADIA has a market cap of ~$3.77B and a P/E of ~9.65, with roughly 96.7% of shares held by institutional investors.

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report) EVP Mark Schneyer sold 2,709 shares of the firm's stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $22.20, for a total value of $60,139.80. Following the completion of the transaction, the executive vice president owned 62,836 shares in the company, valued at approximately $1,394,959.20. This trade represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

ACADIA Pharmaceuticals Trading Down 1.0%

Shares of ACADIA Pharmaceuticals stock traded down $0.23 during trading hours on Tuesday, reaching $22.09. The stock had a trading volume of 1,428,663 shares, compared to its average volume of 1,665,898. The firm has a 50 day simple moving average of $22.75 and a two-hundred day simple moving average of $23.80. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 9.65, a P/E/G ratio of 22.07 and a beta of 0.83. ACADIA Pharmaceuticals Inc. has a 1 year low of $13.40 and a 1 year high of $28.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported $1.60 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $1.48. The company had revenue of $298.00 million for the quarter, compared to the consensus estimate of $292.54 million. ACADIA Pharmaceuticals had a return on equity of 12.49% and a net margin of 36.49%.The company's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business posted $0.86 EPS. Sell-side analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current year.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC grew its stake in ACADIA Pharmaceuticals by 67.5% during the 4th quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 386 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in ACADIA Pharmaceuticals during the 4th quarter valued at approximately $26,000. Geneos Wealth Management Inc. grew its stake in ACADIA Pharmaceuticals by 113.0% during the 3rd quarter. Geneos Wealth Management Inc. now owns 1,425 shares of the biopharmaceutical company's stock valued at $30,000 after purchasing an additional 756 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in ACADIA Pharmaceuticals by 107.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company's stock valued at $36,000 after purchasing an additional 885 shares in the last quarter. Finally, Transamerica Financial Advisors LLC grew its stake in ACADIA Pharmaceuticals by 304.5% during the 4th quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company's stock valued at $36,000 after purchasing an additional 1,005 shares in the last quarter. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Bank of America upgraded ACADIA Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $29.00 target price on the stock in a report on Wednesday, March 25th. UBS Group raised their target price on ACADIA Pharmaceuticals from $35.00 to $40.00 and gave the company a "buy" rating in a report on Tuesday, January 6th. TD Cowen raised their target price on ACADIA Pharmaceuticals from $35.00 to $37.00 and gave the company a "buy" rating in a report on Thursday, February 26th. Mizuho upgraded ACADIA Pharmaceuticals from a "neutral" rating to an "outperform" rating and raised their target price for the company from $29.00 to $35.00 in a report on Monday, February 23rd. Finally, Citizens Jmp raised their target price on ACADIA Pharmaceuticals from $34.00 to $35.00 and gave the company a "market outperform" rating in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $31.21.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA's research centers concentrate on conditions with significant unmet medical needs, including Parkinson's disease psychosis, Alzheimer's disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company's flagship product, NUPLAZID® (pimavanserin), received U.S.

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