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 C. Schneyer sold 3,498 shares of the company's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $23.65, for a total transaction of $82,727.70. Following the sale, the executive vice president directly owned 43,447 shares in the company, valued at $1,027,521.55. This trade represents a 7.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD stock traded down $0.33 during mid-day trading on Friday, hitting $24.42. The company's stock had a trading volume of 3,336,693 shares, compared to its average volume of 1,922,041. The company has a market cap of $4.12 billion, a PE ratio of 18.36, a P/E/G ratio of 6.19 and a beta of 0.75. The company's fifty day simple moving average is $24.30 and its 200-day simple moving average is $20.53. ACADIA Pharmaceuticals Inc. has a 52 week low of $13.40 and a 52 week high of $26.65.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. The business 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 firm's revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.20 earnings per share. On average, equities analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on ACAD shares. Cowen reiterated a "buy" rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, September 11th. The Goldman Sachs Group raised their price target on shares of ACADIA Pharmaceuticals from $15.00 to $17.00 and gave the stock a "sell" rating in a report on Thursday, August 7th. Wall Street Zen lowered shares of ACADIA Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Friday, September 5th. JPMorgan Chase & Co. raised their target price on ACADIA Pharmaceuticals from $30.00 to $34.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $30.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.65.

Institutional Trading of ACADIA Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC grew its stake in ACADIA Pharmaceuticals by 645.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 310,332 shares of the biopharmaceutical company's stock valued at $5,065,000 after purchasing an additional 268,714 shares during the period. Comerica Bank boosted its holdings in shares of ACADIA Pharmaceuticals by 4,770.1% in the 1st quarter. Comerica Bank now owns 43,100 shares of the biopharmaceutical company's stock worth $716,000 after buying an additional 42,215 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 627.3% in the 1st quarter. GAMMA Investing LLC now owns 3,513 shares of the biopharmaceutical company's stock worth $58,000 after buying an additional 3,030 shares during the last quarter. Rhumbline Advisers grew its position in ACADIA Pharmaceuticals by 100.9% during the first quarter. Rhumbline Advisers now owns 352,716 shares of the biopharmaceutical company's stock valued at $5,859,000 after buying an additional 177,188 shares during the period. Finally, Concurrent Investment Advisors LLC purchased a new stake in ACADIA Pharmaceuticals during the first quarter worth about $247,000. 96.71% of the stock is owned by hedge funds and other institutional investors.

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.