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 firm’s stock in a transaction that occurred on 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 directly owns 62,130 shares in the company, valued at $1,553,250. This trade represents a 3.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

ACADIA Pharmaceuticals Stock Performance

ACADIA Pharmaceuticals stock opened at $21.99 on Tuesday. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $13.40 and a fifty-two week high of $25.23. The firm has a 50 day moving average price of $16.01 and a 200 day moving average price of $17.16. The company has a market capitalization of $3.68 billion, a PE ratio of 28.19 and a beta of 0.47.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. The firm had revenue of $244.32 million during the quarter, compared to the consensus estimate of $239.32 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The firm’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.10 EPS. As a group, equities research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Needham & Company LLC raised their price target on shares of ACADIA Pharmaceuticals from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Monday. StockNews.com downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, May 12th. Mizuho raised their price target on shares of ACADIA Pharmaceuticals from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday. BMO Capital Markets raised their price target on shares of ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Robert W. Baird raised their price target on shares of ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $25.42.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Institutional investors have recently modified their holdings of the business. SG Americas Securities LLC grew its stake in shares of ACADIA Pharmaceuticals by 380.3% in the fourth quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company’s stock worth $45,576,000 after acquiring an additional 1,966,607 shares in the last quarter. Barclays PLC grew its stake in shares of ACADIA Pharmaceuticals by 126.2% in the third quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company’s stock worth $4,269,000 after acquiring an additional 154,854 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of ACADIA Pharmaceuticals in the fourth quarter worth $272,000. Vanguard Group Inc. grew its stake in shares of ACADIA Pharmaceuticals by 0.8% in the fourth 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. grew its stake in shares of ACADIA Pharmaceuticals by 66.9% in the fourth 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 and hedge funds 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.