ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CFO Mark C. Schneyer Sells 3,503 Shares

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CFO Mark C. Schneyer sold 3,503 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total value of $59,340.82. Following the completion of the transaction, the chief financial officer now directly owns 32,053 shares in the company, valued at approximately $542,977.82. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

ACADIA Pharmaceuticals Stock Down 0.2 %

ACADIA Pharmaceuticals stock opened at $17.05 on Friday. ACADIA Pharmaceuticals Inc. has a twelve month low of $16.16 and a twelve month high of $33.99. The stock has a market cap of $2.82 billion, a P/E ratio of -44.87 and a beta of 0.42. The company’s 50-day moving average price is $19.15 and its two-hundred day moving average price is $23.33.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.04). The firm had revenue of $231.04 million during the quarter, compared to the consensus estimate of $223.79 million. ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The business’s revenue for the quarter was up 69.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.26) earnings per share. Equities analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.62 earnings per share 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. Raymond James & Associates raised its position in shares of ACADIA Pharmaceuticals by 18.1% in the 3rd quarter. Raymond James & Associates now owns 10,614 shares of the biopharmaceutical company’s stock valued at $221,000 after buying an additional 1,630 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in ACADIA Pharmaceuticals by 12.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,405 shares of the biopharmaceutical company’s stock worth $488,000 after purchasing an additional 2,548 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of ACADIA Pharmaceuticals by 8.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,338 shares of the biopharmaceutical company’s stock valued at $1,695,000 after purchasing an additional 6,519 shares in the last quarter. Emerald Advisers LLC increased its stake in shares of ACADIA Pharmaceuticals by 4.0% in the 3rd quarter. Emerald Advisers LLC now owns 1,681,052 shares of the biopharmaceutical company’s stock valued at $35,033,000 after purchasing an additional 64,100 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust increased its stake in shares of ACADIA Pharmaceuticals by 1.0% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 1,303,988 shares of the biopharmaceutical company’s stock valued at $27,175,000 after purchasing an additional 12,894 shares during the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ACAD shares. Mizuho cut ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their price target for the company from $39.00 to $25.00 in a research note on Tuesday, March 12th. HC Wainwright reissued a “buy” rating and issued a $33.00 price target on shares of ACADIA Pharmaceuticals in a report on Wednesday, February 28th. Robert W. Baird assumed coverage on ACADIA Pharmaceuticals in a research note on Tuesday, January 30th. They set an “outperform” rating and a $40.00 price objective on the stock. StockNews.com raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, January 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Tuesday. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $32.13.

ACADIA Pharmaceuticals Company Profile

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.