ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CFO Mark C. Schneyer Sells 5,434 Shares

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CFO Mark C. Schneyer sold 5,434 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $17.90, for a total transaction of $97,268.60. Following the sale, the chief financial officer now directly owns 26,183 shares in the company, valued at approximately $468,675.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD stock opened at $18.20 on Thursday. The company has a 50 day moving average of $23.85 and a 200-day moving average of $24.48. ACADIA Pharmaceuticals Inc. has a 12-month low of $17.56 and a 12-month high of $33.99.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). ACADIA Pharmaceuticals had a negative return on equity of 15.67% and a negative net margin of 8.44%. The company had revenue of $231.04 million during the quarter, compared to the consensus estimate of $223.79 million. During the same period in the previous year, the business earned ($0.26) earnings per share. ACADIA Pharmaceuticals’s revenue was up 69.3% on a year-over-year basis. On average, sell-side analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.64 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ACAD shares. StockNews.com raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, January 30th. Needham & Company LLC decreased their price target on ACADIA Pharmaceuticals from $36.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, March 12th. Deutsche Bank Aktiengesellschaft assumed coverage on ACADIA Pharmaceuticals in a report on Tuesday, December 12th. They issued a “buy” rating and a $25.00 target price for the company. Stifel Nicolaus boosted their target price on shares of ACADIA Pharmaceuticals from $25.00 to $27.00 and gave the company a “hold” rating in a research report on Monday, December 18th. Finally, Morgan Stanley reduced their price target on shares of ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, March 13th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.12.

Institutional Trading of ACADIA Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Quest Partners LLC bought a new position in ACADIA Pharmaceuticals in the 4th quarter worth about $39,000. KBC Group NV bought a new position in shares of ACADIA Pharmaceuticals in the fourth quarter worth approximately $83,000. China Universal Asset Management Co. Ltd. raised its stake in ACADIA Pharmaceuticals by 97.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 4,202 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 2,070 shares in the last quarter. State of Wyoming purchased a new position in ACADIA Pharmaceuticals in the 4th quarter worth approximately $92,000. Finally, Lazard Asset Management LLC increased its holdings in shares of ACADIA Pharmaceuticals by 35.8% in the 2nd quarter. Lazard Asset Management LLC now owns 4,125 shares of the biopharmaceutical company’s stock worth $98,000 after buying an additional 1,088 shares during the last quarter. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

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.