ACADIA Pharmaceuticals (NASDAQ:ACAD) EVP Sells $82,727.70 in Stock

Key Points

• Mark Schneyer, EVP of ACADIA Pharmaceuticals, sold 3,498 shares valued at $82,727.70, reducing his stake by 7.45% to 43,447 shares, worth approximately $1,027,521.55.
• ACADIA Pharmaceuticals reported $0.16 earnings per share for the last quarter, exceeding analysts' expectations of $0.14, with a revenue increase of 9.4% year-over-year.
• The stock has seen a recent trading decline of 2.9%, with a current market cap of $4.04 billion and a mixed analyst outlook, averaging a target price of $29.65.

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report) EVP Mark Schneyer sold 3,498 shares of the business's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $23.65, for a total value of $82,727.70. Following the completion of the sale, the executive vice president directly owned 43,447 shares of the company's stock, valued at approximately $1,027,521.55. The trade was a 7.45% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

ACADIA Pharmaceuticals Trading Down 2.9%

ACADIA Pharmaceuticals stock traded down $0.71 during trading hours on Tuesday, reaching $23.96. 2,041,936 shares of the company were exchanged, compared to its average volume of 1,823,672. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 6.25 and a beta of 0.75. The stock has a 50-day moving average of $24.13 and a 200 day moving average of $20.40. ACADIA Pharmaceuticals Inc. has a 12 month low of $13.40 and a 12 month high of $26.65.

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

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in ACADIA Pharmaceuticals by 9.0% in the 1st quarter. Vanguard Group Inc. now owns 15,203,234 shares of the biopharmaceutical company's stock valued at $252,526,000 after buying an additional 1,255,594 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in ACADIA Pharmaceuticals in the first quarter valued at approximately $60,845,000. Geode Capital Management LLC grew its stake in ACADIA Pharmaceuticals by 2.4% in the second quarter. Geode Capital Management LLC now owns 3,024,097 shares of the biopharmaceutical company's stock valued at $65,238,000 after purchasing an additional 69,584 shares in the last quarter. Fred Alger Management LLC grew its stake in ACADIA Pharmaceuticals by 2.0% in the first quarter. Fred Alger Management LLC now owns 2,769,828 shares of the biopharmaceutical company's stock valued at $46,007,000 after purchasing an additional 54,899 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of ACADIA Pharmaceuticals by 2.8% during the 2nd quarter. First Trust Advisors LP now owns 2,434,376 shares of the biopharmaceutical company's stock worth $52,509,000 after acquiring an additional 65,914 shares during the period. Institutional investors and hedge funds own 96.71% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ACAD. Needham & Company LLC reaffirmed a "buy" rating and set a $30.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft upgraded ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating and upped their price target for the company from $20.00 to $35.00 in a research report on Wednesday, May 21st. JMP Securities upped their price target on ACADIA Pharmaceuticals from $37.00 to $38.00 and gave the company a "market outperform" rating in a research report on Thursday, August 7th. TD Cowen increased their target price on ACADIA Pharmaceuticals from $35.00 to $39.00 and gave the stock a "buy" rating in a report on Thursday, September 11th. Finally, Citigroup reiterated an "outperform" rating on shares of ACADIA Pharmaceuticals in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $29.65.

ACADIA Pharmaceuticals Company Profile

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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