Insider Selling: ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CFO Sells 15,310 Shares of Stock

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

ACADIA Pharmaceuticals Stock Up 4.8 %

Shares of ACAD stock opened at $24.31 on Friday. The business has a 50 day moving average of $20.04 and a two-hundred day moving average of $18.22. The company has a market cap of $3.95 billion, a P/E ratio of -26.71 and a beta of 0.54. 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 data 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 company had revenue of $118.46 million for the quarter, compared to the consensus estimate of $120.29 million. ACADIA Pharmaceuticals had a negative return on equity of 35.70% and a negative net margin of 28.05%. ACADIA Pharmaceuticals’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.70) earnings per share. Analysts expect that ACADIA Pharmaceuticals Inc. will post -0.57 EPS for the current fiscal year.

Institutional Trading of ACADIA Pharmaceuticals

A number of large investors have recently modified their holdings of the company. C M Bidwell & Associates Ltd. bought a new position in ACADIA Pharmaceuticals in the 1st quarter worth about $30,000. Wipfli Financial Advisors LLC acquired a new position in shares of ACADIA Pharmaceuticals during the third quarter worth approximately $33,000. IFP Advisors Inc grew its holdings in ACADIA Pharmaceuticals by 284.6% in the 3rd quarter. IFP Advisors Inc now owns 2,027 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 1,500 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in ACADIA Pharmaceuticals by 33.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 2,198 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 553 shares during the period. Finally, CWM LLC raised its stake in ACADIA Pharmaceuticals by 7,783.3% during the 1st quarter. CWM LLC now owns 2,365 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 2,335 shares in the last quarter. Institutional investors and hedge funds own 92.79% of the company’s stock.

Analyst Ratings Changes

ACAD has been the topic of several recent research reports. Mizuho reissued a “neutral” rating and set a $20.00 price target on shares of ACADIA Pharmaceuticals in a research report on Friday, April 14th. Cantor Fitzgerald lifted their price target on shares of ACADIA Pharmaceuticals from $28.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 14th. Citigroup boosted their price objective on shares of ACADIA Pharmaceuticals from $21.00 to $21.60 in a report on Tuesday, May 9th. Guggenheim raised their target price on ACADIA Pharmaceuticals from $22.00 to $25.00 in a research note on Tuesday, March 14th. Finally, Canaccord Genuity Group boosted their price target on ACADIA Pharmaceuticals from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, March 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals 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.