ACADIA Pharmaceuticals (NASDAQ:ACAD) EVP Sells $60,139.80 in Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) EVP Mark Schneyer sold 2,709 shares of the firm’s stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $22.20, for a total value of $60,139.80. Following the sale, the executive vice president owned 62,836 shares of the company’s stock, valued at approximately $1,394,959.20. This trade represents a 4.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

ACADIA Pharmaceuticals Trading Down 1.0%

NASDAQ ACAD traded down $0.23 during mid-day trading on Tuesday, reaching $22.09. 1,428,663 shares of the company’s stock traded hands, compared to its average volume of 1,665,898. ACADIA Pharmaceuticals Inc. has a 1-year low of $13.40 and a 1-year high of $28.35. The company has a fifty day simple moving average of $22.75 and a 200-day simple moving average of $23.80. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 9.65, a P/E/G ratio of 22.07 and a beta of 0.83.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $1.48. ACADIA Pharmaceuticals had a return on equity of 12.49% and a net margin of 36.49%.The firm had revenue of $298.00 million during the quarter, compared to analyst estimates of $292.54 million. During the same quarter last year, the firm earned $0.86 EPS. ACADIA Pharmaceuticals’s quarterly revenue was up 9.4% on a year-over-year basis. Equities research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ACAD. UBS Group lifted their target price on ACADIA Pharmaceuticals from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. JPMorgan Chase & Co. lifted their target price on ACADIA Pharmaceuticals from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 4th. Royal Bank Of Canada decreased their target price on ACADIA Pharmaceuticals from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, February 26th. Wall Street Zen lowered ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Piper Sandler set a $37.00 target price on ACADIA Pharmaceuticals in a research report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.21.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ACAD. Braidwell LP acquired a new position in shares of ACADIA Pharmaceuticals in the 3rd quarter worth approximately $50,760,000. Norges Bank bought a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $40,266,000. Millennium Management LLC lifted its holdings in shares of ACADIA Pharmaceuticals by 2,052.1% in the 3rd quarter. Millennium Management LLC now owns 1,483,235 shares of the biopharmaceutical company’s stock worth $31,652,000 after purchasing an additional 1,414,315 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of ACADIA Pharmaceuticals by 390.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,648,864 shares of the biopharmaceutical company’s stock worth $35,187,000 after purchasing an additional 1,312,426 shares during the last quarter. Finally, Logos Global Management LP bought a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $22,704,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.