Insider Selling: ACADIA Pharmaceuticals (NASDAQ:ACAD) EVP Sells 3,321 Shares of Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) EVP Mark Schneyer sold 3,321 shares of the stock in a transaction dated 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 approximately $1,489,203.36. The trade was a 4.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

ACADIA Pharmaceuticals Stock Up 0.1%

NASDAQ ACAD traded up $0.02 during trading hours on Friday, hitting $21.26. 798,741 shares of the company were exchanged, compared to its average volume of 1,746,874. The company has a 50 day moving average of $23.03 and a two-hundred day moving average of $23.62. ACADIA Pharmaceuticals Inc. has a 52-week low of $18.39 and a 52-week high of $30.96. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of 10.08 and a beta of 0.87.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Wednesday, November 4th. The biopharmaceutical company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.11. ACADIA Pharmaceuticals had a return on equity of 9.12% and a net margin of 30.13%. The company had revenue of $342.30 million for the quarter, compared to the consensus estimate of $332.58 million. During the same quarter in the prior year, the business earned $0.42 EPS. ACADIA Pharmaceuticals’s revenue was up 22.8% on a year-over-year basis. On average, equities research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.64 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $35.00 price target on shares of ACADIA Pharmaceuticals in a report on Monday, October 19th. Citizens Jmp cut their price target on ACADIA Pharmaceuticals from $36.00 to $33.00 and set a “market outperform” rating on the stock in a report on Friday, September 25th. Deutsche Bank Aktiengesellschaft dropped their price objective on ACADIA Pharmaceuticals from $38.00 to $31.00 and set a “buy” rating on the stock in a report on Friday, September 25th. TD Cowen reissued a “buy” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, September 24th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Wednesday, September 23rd. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.45.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in ACADIA Pharmaceuticals during the 2nd quarter worth approximately $569,634,000. First Trust Advisors LP grew its stake 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 buying an additional 1,073,834 shares during the last quarter. Palo Alto Investors LP purchased a new position in ACADIA Pharmaceuticals during the 2nd quarter worth approximately $72,461,629. Dimensional Fund Advisors LP grew its stake in ACADIA Pharmaceuticals by 8.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,155,160 shares of the biopharmaceutical company’s stock worth $70,222,000 after buying an additional 234,186 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in ACADIA Pharmaceuticals by 12.5% during the 1st quarter. Renaissance Technologies LLC now owns 1,724,196 shares of the biopharmaceutical company’s stock worth $38,381,000 after buying an additional 191,600 shares during the last quarter. 96.71% of the stock is owned by institutional investors and hedge funds.

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.