ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CFO Mark C. Schneyer Sells 10,259 Shares

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CFO Mark C. Schneyer sold 10,259 shares of ACADIA Pharmaceuticals stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $172,453.79. Following the sale, the chief financial officer now directly owns 53,302 shares of the company’s stock, valued at $896,006.62. This represents a 16.14 % 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 Price Performance

Shares of ACADIA Pharmaceuticals stock opened at $16.18 on Friday. The company’s fifty day simple moving average is $15.61 and its 200-day simple moving average is $15.99. The stock has a market capitalization of $2.69 billion, a PE ratio of 20.74 and a beta of 0.38. ACADIA Pharmaceuticals Inc. has a 1-year low of $14.15 and a 1-year high of $32.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.06. The business had revenue of $250.40 million for the quarter, compared to analysts’ expectations of $248.83 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The company’s revenue was up 18.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.40) EPS. As a group, research analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.72 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Arizona State Retirement System lifted its stake in shares of ACADIA Pharmaceuticals by 2.2% during the 2nd quarter. Arizona State Retirement System now owns 29,983 shares of the biopharmaceutical company’s stock valued at $487,000 after buying an additional 655 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of ACADIA Pharmaceuticals by 5.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 14,770 shares of the biopharmaceutical company’s stock valued at $240,000 after buying an additional 778 shares in the last quarter. Swiss National Bank lifted its stake in shares of ACADIA Pharmaceuticals by 0.4% during the 1st quarter. Swiss National Bank now owns 210,604 shares of the biopharmaceutical company’s stock valued at $3,894,000 after buying an additional 800 shares in the last quarter. Covestor Ltd lifted its stake in shares of ACADIA Pharmaceuticals by 70.5% during the 1st quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 840 shares in the last quarter. Finally, Quest Partners LLC lifted its stake in shares of ACADIA Pharmaceuticals by 42.3% during the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock valued at $54,000 after buying an additional 1,047 shares in the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Royal Bank of Canada reduced their price objective on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Citigroup decreased their price target on shares of ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Morgan Stanley cut ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $28.00 to $20.00 in a research report on Wednesday, August 7th. Finally, Needham & Company LLC restated a “buy” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.56.

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.