Insider Selling: ACADIA Pharmaceuticals (NASDAQ:ACAD) EVP Sells 22,000 Shares of Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) EVP Mark Schneyer sold 22,000 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $25.18, for a total value of $553,960.00. Following the sale, the executive vice president owned 40,130 shares of the company’s stock, valued at approximately $1,010,473.40. This trade represents a 35.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

ACADIA Pharmaceuticals Stock Down 0.1%

Shares of NASDAQ ACAD opened at $24.94 on Thursday. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $13.40 and a fifty-two week high of $25.88. The business has a 50 day moving average price of $22.88 and a two-hundred day moving average price of $19.62. The firm has a market cap of $4.21 billion, a PE ratio of 18.75, a price-to-earnings-growth ratio of 6.36 and a beta of 0.70.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. ACADIA Pharmaceuticals had a return on equity of 14.69% and a net margin of 21.80%.The firm had revenue of $264.57 million during the quarter, compared to analyst estimates of $263.07 million. During the same quarter last year, the firm earned $0.20 EPS. ACADIA Pharmaceuticals’s quarterly revenue was up 9.4% on a year-over-year basis. On average, analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ACAD shares. Wall Street Zen upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, August 16th. Mizuho raised their price objective on ACADIA Pharmaceuticals from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Citigroup reaffirmed an “outperform” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, August 7th. Robert W. Baird increased their target price on ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, May 19th. Finally, Bank of America increased their target price on ACADIA Pharmaceuticals from $18.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $28.88.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ACAD. Maryland State Retirement & Pension System lifted its holdings in shares of ACADIA Pharmaceuticals by 1.3% in the 2nd quarter. Maryland State Retirement & Pension System now owns 36,397 shares of the biopharmaceutical company’s stock worth $785,000 after purchasing an additional 476 shares during the last quarter. GF Fund Management CO. LTD. lifted its holdings in shares of ACADIA Pharmaceuticals by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 4,260 shares of the biopharmaceutical company’s stock worth $71,000 after purchasing an additional 766 shares during the last quarter. Yousif Capital Management LLC lifted its holdings in shares of ACADIA Pharmaceuticals by 1.7% in the 2nd quarter. Yousif Capital Management LLC now owns 46,773 shares of the biopharmaceutical company’s stock worth $1,009,000 after purchasing an additional 790 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of ACADIA Pharmaceuticals by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 12,519 shares of the biopharmaceutical company’s stock worth $230,000 after purchasing an additional 795 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of ACADIA Pharmaceuticals by 15.8% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,465 shares of the biopharmaceutical company’s stock worth $139,000 after purchasing an additional 884 shares during 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.