Insider Selling: ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CFO Sells 3,503 Shares of Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CFO Mark C. Schneyer sold 3,503 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 32,053 shares of the company’s stock, valued at $542,977.82. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

ACADIA Pharmaceuticals Stock Down 0.2 %

NASDAQ ACAD opened at $17.05 on Friday. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $16.16 and a fifty-two week high of $33.99. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of -44.87 and a beta of 0.42. The business has a fifty day moving average of $19.15 and a 200-day moving average of $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 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 analyst estimates of $223.79 million. During the same period last year, the firm earned ($0.26) earnings per share. The business’s revenue was up 69.3% compared to the same quarter last year. As a group, analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.62 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on ACAD shares. Morgan Stanley reduced their price target on ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, March 13th. Robert W. Baird started coverage on ACADIA Pharmaceuticals in a report on Tuesday, January 30th. They issued an “outperform” rating and a $40.00 price target for the company. 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. Mizuho cut ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their price target for the company from $39.00 to $25.00 in a report on Tuesday, March 12th. Finally, Oppenheimer reaffirmed a “market perform” rating and issued a $25.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Monday, February 5th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.13.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Quest Partners LLC acquired a new position in ACADIA Pharmaceuticals in the fourth quarter valued at $39,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in ACADIA Pharmaceuticals in the fourth quarter valued at $100,000. China Universal Asset Management Co. Ltd. increased 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 during the last quarter. Legato Capital Management LLC acquired a new position in ACADIA Pharmaceuticals in the fourth quarter valued at $206,000. Finally, Old Well Partners LLC acquired a new position in ACADIA Pharmaceuticals in the fourth quarter valued at $257,000. 96.71% of the stock is currently owned by institutional investors and hedge funds.

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.