ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock: Insider Mark Schneyer Sells 3,321 Shares

Key Points

• EVP Mark Schneyer sold 3,321 ACADIA shares at an average price of $20.88, generating $69,342.48; his remaining direct ownership fell 4.45% to 71,322 shares.
• ACADIA shares closed at $20.59, near the lower end of their 52-week range of $18.39 to $30.96. The company has a $3.55 billion market capitalization and a 9.27 price-to-earnings ratio.
• The company exceeded quarterly expectations with earnings of $0.18 per share versus a $0.07 consensus estimate and revenue of $308 million. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $31.34, while institutional investors own 96.71% of the stock.

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report) EVP Mark Schneyer sold 3,321 shares of the business's stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $20.88, for a total value of $69,342.48. Following the transaction, the executive vice president directly owned 71,322 shares in the company, valued at $1,489,203.36. The trade was a 4.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

ACADIA Pharmaceuticals Stock Performance

ACAD traded down $0.17 during trading hours on Friday, reaching $20.59. The company's stock had a trading volume of 1,137,496 shares, compared to its average volume of 1,691,177. ACADIA Pharmaceuticals Inc. has a 52 week low of $18.39 and a 52 week high of $30.96. The company's 50-day moving average is $23.74 and its 200-day moving average is $23.73. The firm has a market cap of $3.55 billion, a PE ratio of 9.27 and a beta of 0.88.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.07 by $0.11. The firm had revenue of $308.00 million during the quarter, compared to analysts' expectations of $296.55 million. ACADIA Pharmaceuticals had a net margin of 33.42% and a return on equity of 9.03%. The company's revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.16 earnings per share. Equities analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.64 earnings per share for the current fiscal year.

Institutional Trading of ACADIA Pharmaceuticals

Large investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in ACADIA Pharmaceuticals in the second quarter valued at $569,634,000. Palo Alto Investors LP acquired a new stake in ACADIA Pharmaceuticals during the 2nd quarter worth about $72,461,629. Bank of America Corp DE acquired a new stake in ACADIA Pharmaceuticals during the 2nd quarter worth about $32,900,000. First Trust Advisors LP grew its holdings in ACADIA Pharmaceuticals by 47.3% during the 1st quarter. First Trust Advisors LP now owns 3,343,868 shares of the biopharmaceutical company's stock worth $74,435,000 after acquiring an additional 1,073,834 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in shares of ACADIA Pharmaceuticals in the 2nd quarter worth about $19,244,000. 96.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ACAD has been the topic of several research reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $35.00 target price on shares of ACADIA Pharmaceuticals in a research report on Monday, October 19th. Bank of America reissued a "buy" rating and set a $14.50 price target on shares of ACADIA Pharmaceuticals in a report on Wednesday, July 29th. Weiss Ratings upgraded ACADIA Pharmaceuticals from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, August 12th. UBS Group lowered ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $49.00 to $23.00 in a report on Tuesday, October 13th. Finally, Stifel Nicolaus increased their price objective on ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the stock a "hold" rating in a research report on Tuesday, July 21st. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, ACADIA Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $31.34.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system and neuropsychiatric disorders. The company's research programs target conditions with significant unmet medical needs, including neurological and rare neurodevelopmental diseases.

ACADIA's commercial products include NUPLAZID (pimavanserin), an atypical antipsychotic approved in the United States to treat hallucinations and delusions associated with Parkinson's disease psychosis.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.