ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CFO Sells $14,420.25 in Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACADGet Free Report) CFO Mark C. Schneyer sold 975 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $14.79, for a total value of $14,420.25. Following the transaction, the chief financial officer now owns 34,564 shares of the company’s stock, valued at $511,201.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

ACADIA Pharmaceuticals Trading Down 1.8 %

Shares of NASDAQ ACAD opened at $15.09 on Friday. ACADIA Pharmaceuticals Inc. has a 12-month low of $14.55 and a 12-month high of $33.99. The firm’s 50-day moving average price is $16.10 and its 200-day moving average price is $21.85. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of -1,507.49 and a beta of 0.40.

ACADIA Pharmaceuticals (NASDAQ:ACADGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.06. ACADIA Pharmaceuticals had a negative return on equity of 0.41% and a negative net margin of 0.21%. The company had revenue of $205.83 million for the quarter, compared to analysts’ expectations of $208.31 million. During the same period in the previous year, the firm posted ($0.27) earnings per share. The firm’s revenue for the quarter was up 73.8% on a year-over-year basis. On average, equities analysts predict that ACADIA Pharmaceuticals Inc. will post 0.58 EPS for the current fiscal year.

Institutional Trading of ACADIA Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of ACAD. Covestor Ltd boosted its stake in ACADIA Pharmaceuticals by 70.5% during the first quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 840 shares during the period. Quest Partners LLC purchased a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth about $39,000. Headlands Technologies LLC bought a new position in ACADIA Pharmaceuticals during the 1st quarter valued at about $48,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in ACADIA Pharmaceuticals in the 4th quarter worth about $100,000. Finally, Shell Asset Management Co. lifted its stake in ACADIA Pharmaceuticals by 65.7% in the first quarter. Shell Asset Management Co. now owns 7,339 shares of the biopharmaceutical company’s stock worth $136,000 after purchasing an additional 2,909 shares during the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Bank of America dropped their price target on shares of ACADIA Pharmaceuticals from $26.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday, May 10th. Oppenheimer reaffirmed a “market perform” rating and issued a $19.00 target price on shares of ACADIA Pharmaceuticals in a report on Monday, May 6th. Royal Bank of Canada decreased their price target on ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, May 9th. Finally, TheStreet upgraded ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a research report on Tuesday, February 27th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $28.94.

Read Our Latest Analysis on ACAD

ACADIA Pharmaceuticals Company Profile

(Get Free Report)

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.

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