Mark C. Schneyer Sells 15,310 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Get Rating) CFO Mark C. Schneyer sold 15,310 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $22.50, for a total transaction of $344,475.00. Following the completion of the transaction, the chief financial officer now directly owns 21,905 shares in the company, valued at $492,862.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

ACADIA Pharmaceuticals Trading Up 4.8 %

ACADIA Pharmaceuticals stock opened at $24.31 on Friday. The stock has a market cap of $3.95 billion, a PE ratio of -26.71 and a beta of 0.54. The stock has a 50-day moving average price of $20.04 and a 200 day moving average price of $18.22. ACADIA Pharmaceuticals Inc. has a 52 week low of $12.24 and a 52 week high of $24.32.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) last issued its quarterly earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.06). The firm had revenue of $118.46 million for the quarter, compared to analysts’ expectations of $120.29 million. ACADIA Pharmaceuticals had a negative return on equity of 35.70% and a negative net margin of 28.05%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.70) earnings per share. On average, equities analysts predict that ACADIA Pharmaceuticals Inc. will post -0.57 EPS for the current year.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. International Biotechnology Trust PLC increased its stake in ACADIA Pharmaceuticals by 116.0% in the first quarter. International Biotechnology Trust PLC now owns 216,000 shares of the biopharmaceutical company’s stock valued at $4,061,000 after purchasing an additional 116,000 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of ACADIA Pharmaceuticals by 3.7% during the 1st quarter. Rockefeller Capital Management L.P. now owns 480,880 shares of the biopharmaceutical company’s stock worth $9,049,000 after acquiring an additional 17,239 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of ACADIA Pharmaceuticals by 224.6% in the first quarter. Thrivent Financial for Lutherans now owns 266,644 shares of the biopharmaceutical company’s stock worth $5,018,000 after acquiring an additional 184,505 shares during the last quarter. Squarepoint Ops LLC acquired a new position in ACADIA Pharmaceuticals during the first quarter worth approximately $4,113,000. Finally, Fred Alger Management LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 18.0% in the 1st quarter. Fred Alger Management LLC now owns 1,725,626 shares of the biopharmaceutical company’s stock valued at $32,476,000 after purchasing an additional 262,972 shares during the last quarter. Institutional investors and hedge funds own 92.79% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Canaccord Genuity Group boosted their price target on shares of ACADIA Pharmaceuticals from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, March 14th. Cantor Fitzgerald increased their target price on ACADIA Pharmaceuticals from $28.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 14th. JMP Securities lifted their price target on ACADIA Pharmaceuticals from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, May 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Tuesday, March 14th. Finally, HC Wainwright boosted their target price on shares of ACADIA Pharmaceuticals from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, March 14th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.40.

ACADIA Pharmaceuticals Company Profile

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ACADIA Pharmaceuticals, Inc is a biopharmaceutical company, which focuses on the development and commercialization of medicines to address unmet medical needs in central nervous system, or CNS, disorders. Its products include Nuplazid, which is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis.