Insider Selling: ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) EVP Sells 2,000 Shares of Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) EVP Mark C. Schneyer sold 2,000 shares of the company’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $25.00, for a total transaction of $50,000.00. Following the completion of the transaction, the executive vice president now owns 62,130 shares in the company, valued at approximately $1,553,250. The trade was a 3.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

ACADIA Pharmaceuticals Stock Down 1.4%

Shares of NASDAQ:ACAD opened at $21.69 on Wednesday. The firm’s 50 day moving average price is $16.11 and its 200-day moving average price is $17.19. ACADIA Pharmaceuticals Inc. has a twelve month low of $13.40 and a twelve month high of $25.23. The stock has a market capitalization of $3.63 billion, a PE ratio of 27.81 and a beta of 0.47.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The firm had revenue of $244.32 million for the quarter, compared to analysts’ expectations of $239.32 million. During the same quarter in the prior year, the business earned $0.10 EPS. The business’s quarterly revenue was up 18.7% on a year-over-year basis. Analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ACAD shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Needham & Company LLC upped their target price on shares of ACADIA Pharmaceuticals from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Monday. BMO Capital Markets upped their target price on shares of ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the company an “outperform” rating in a research note on Monday. Oppenheimer restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research note on Friday. Finally, Robert W. Baird upped their target price on shares of ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $25.75.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC lifted its stake in shares of ACADIA Pharmaceuticals by 380.3% in the 4th quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company’s stock worth $45,576,000 after purchasing an additional 1,966,607 shares during the period. Barclays PLC lifted its stake in shares of ACADIA Pharmaceuticals by 126.2% in the 3rd quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company’s stock worth $4,269,000 after purchasing an additional 154,854 shares during the period. Proficio Capital Partners LLC purchased a new stake in ACADIA Pharmaceuticals in the 4th quarter worth approximately $272,000. Vanguard Group Inc. increased its holdings in ACADIA Pharmaceuticals by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 13,947,640 shares of the biopharmaceutical company’s stock worth $255,939,000 after acquiring an additional 104,444 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in ACADIA Pharmaceuticals by 66.9% in the 4th quarter. Victory Capital Management Inc. now owns 162,125 shares of the biopharmaceutical company’s stock worth $2,975,000 after acquiring an additional 64,995 shares in the last quarter. Institutional investors own 96.71% of the company’s stock.

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.