Mark Schneyer Sells 2,709 Shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) EVP Mark Schneyer sold 2,709 shares of the firm’s stock in a transaction 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 transaction, the executive vice president directly owned 62,836 shares in the company, valued at $1,394,959.20. This trade represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD opened at $22.56 on Thursday. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of 9.85, a price-to-earnings-growth ratio of 22.07 and a beta of 0.83. ACADIA Pharmaceuticals Inc. has a one year low of $13.40 and a one year high of $28.35. The stock’s fifty day moving average is $22.69 and its 200-day moving average is $23.79.

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

More ACADIA Pharmaceuticals News

Here are the key news stories impacting ACADIA Pharmaceuticals this week:

• Positive Sentiment: Analysts/Zacks note ACAD’s history of quarterly earnings surprises and say the company currently has the key attributes that make another beat likely — supporting upside into the next report. Will Acadia (ACAD) Beat Estimates Again in Its Next Earnings Report? (Yahoo) Will Acadia (ACAD) Beat Estimates Again in Its Next Earnings Report? (Zacks)
• Positive Sentiment: Acadia launched DAYBUE® STIX (trofinetide) — a dye- and preservative-free powder formulation of its Rett syndrome medicine — and said it is now broadly available in the U.S.; FDA-approved bioequivalence and easier dosing could boost uptake and sales. Acadia Announces DAYBUE STIX Now Broadly Available (BusinessWire)
• Positive Sentiment: Analyst coverage and institutional activity are constructive: several firms raised price targets or hold “outperform/overweight” views, and reports show large institutional stakes increasing — a supportive backdrop for the shares. Acadia Pharmaceuticals: A Mid-Cap Biotech Making Large Moves (MarketBeat)
• Neutral Sentiment: Recent fundamentals: ACAD posted a sizable EPS beat in its last quarter (reported $1.60 vs. $0.12 est.) and revenue growth (~9% y/y); valuation metrics (low-teens P/E) and its 50/200-day moving averages are mixed signals for different investor horizons. ACAD Price & Profile (MarketBeat)
• Negative Sentiment: Insider selling: EVP Mark C. Schneyer sold 2,709 shares and director/executive James Kihara sold 1,030 shares at about $22.20 on April 7; while dollar amounts are modest relative to institutional holdings, insider sales can raise short-term caution for some investors. James Kihara Sells 1,030 Shares of ACADIA Pharmaceuticals (InsiderTrades) SEC Form 4 (Kihara) SEC Form 4 (Schneyer)

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its position in shares of ACADIA Pharmaceuticals by 67.5% in the 4th quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 386 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $26,000. Geneos Wealth Management Inc. boosted its position in shares of ACADIA Pharmaceuticals by 113.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 1,425 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 756 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of ACADIA Pharmaceuticals by 107.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 885 shares during the period. Finally, Transamerica Financial Advisors LLC boosted its position in shares of ACADIA Pharmaceuticals by 304.5% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 1,005 shares during the period. Institutional investors and hedge funds own 96.71% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on ACAD. 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 report on Wednesday, March 4th. Citizens Jmp lifted their target price on ACADIA Pharmaceuticals from $34.00 to $35.00 and gave the stock a “market outperform” rating in a report on Thursday, February 26th. Piper Sandler set a $37.00 target price on ACADIA Pharmaceuticals in a report on Tuesday, December 16th. Oppenheimer reaffirmed a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Friday, February 6th. Finally, Wolfe Research began coverage on ACADIA Pharmaceuticals in a report on Monday, February 23rd. They set an “outperform” rating and a $33.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $31.21.

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.