ACADIA Pharmaceuticals (NASDAQ:ACAD) EVP Mark Schneyer Sells 3,321 Shares of Company Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) EVP Mark Schneyer sold 3,321 shares of the business’s stock in a transaction on Friday, October 30th. The shares were sold at an average price of $20.88, for a total transaction of $69,342.48. Following the completion of the transaction, the executive vice president directly owned 71,322 shares in the company, valued at $1,489,203.36. This represents a 4.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

ACADIA Pharmaceuticals Stock Performance

Shares of ACADIA Pharmaceuticals stock opened at $20.59 on Friday. ACADIA Pharmaceuticals Inc. has a one year low of $18.39 and a one year high of $30.96. The company has a market cap of $3.55 billion, a P/E ratio of 9.27 and a beta of 0.88. The firm has a fifty day moving average of $23.74 and a two-hundred day moving average of $23.73.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.11. ACADIA Pharmaceuticals had a net margin of 33.42% and a return on equity of 9.03%. The business had revenue of $308.00 million for the quarter, compared to the consensus estimate of $296.55 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. As a group, equities analysts predict that ACADIA Pharmaceuticals Inc. will post 0.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

ACAD has been the topic of a number of analyst reports. HC Wainwright lowered their price objective on ACADIA Pharmaceuticals from $37.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, September 25th. Citigroup reissued a “buy” rating and set a $33.00 target price (down from $40.00) on shares of ACADIA Pharmaceuticals in a research note on Friday, September 25th. Bank of America reissued a “buy” rating and set a $14.50 target price on shares of ACADIA Pharmaceuticals in a research note on Wednesday, July 29th. Citizens Jmp reduced their price target on ACADIA Pharmaceuticals from $36.00 to $33.00 and set a “market outperform” rating for the company in a report on Friday, September 25th. Finally, BMO Capital Markets decreased their price target on ACADIA Pharmaceuticals from $36.00 to $34.00 and set an “outperform” rating on the stock in a research note on Thursday, September 24th. Thirteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $31.34.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in ACADIA Pharmaceuticals by 15.6% during the second quarter. GAMMA Investing LLC now owns 2,985 shares of the biopharmaceutical company’s stock valued at $76,000 after buying an additional 402 shares in the last quarter. Choreo LLC increased its stake in ACADIA Pharmaceuticals by 1.9% in the 3rd quarter. Choreo LLC now owns 27,658 shares of the biopharmaceutical company’s stock worth $557,000 after purchasing an additional 524 shares in the last quarter. Cim Investment Management Inc. raised its holdings in shares of ACADIA Pharmaceuticals by 7.3% during the second quarter. Cim Investment Management Inc. now owns 15,273 shares of the biopharmaceutical company’s stock valued at $386,000 after acquiring an additional 1,034 shares during the period. Swiss National Bank raised its stake in ACADIA Pharmaceuticals by 0.6% during the 1st quarter. Swiss National Bank now owns 234,404 shares of the biopharmaceutical company’s stock valued at $5,218,000 after purchasing an additional 1,500 shares during the period. Finally, Nykredit A S acquired a new position in ACADIA Pharmaceuticals during the second quarter valued at $38,000. Hedge funds and other institutional investors own 96.71% of the company’s stock.

About ACADIA Pharmaceuticals

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.