ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CFO Sells $48,534.92 in Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CFO Mark C. Schneyer sold 2,716 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $17.87, for a total transaction of $48,534.92. Following the transaction, the chief financial officer now directly owns 28,742 shares in the company, valued at approximately $513,619.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

ACADIA Pharmaceuticals Stock Down 1.8 %

NASDAQ ACAD opened at $17.41 on Friday. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $17.34 and a fifty-two week high of $33.99. The business has a 50 day moving average price of $21.86 and a two-hundred day moving average price of $23.96. The stock has a market cap of $2.87 billion, a PE ratio of -45.82 and a beta of 0.37.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.04). ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The firm had revenue of $231.04 million during the quarter, compared to analysts’ expectations of $223.79 million. During the same quarter last year, the company posted ($0.26) earnings per share. ACADIA Pharmaceuticals’s revenue for the quarter was up 69.3% compared to the same quarter last year. Sell-side analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.63 EPS for the current fiscal year.

Institutional Trading of ACADIA Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of ACAD. Empire Life Investments Inc. boosted its holdings in ACADIA Pharmaceuticals by 0.3% in the fourth quarter. Empire Life Investments Inc. now owns 174,815 shares of the biopharmaceutical company’s stock valued at $5,473,000 after purchasing an additional 467 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of ACADIA Pharmaceuticals by 0.5% during the 3rd quarter. Legal & General Group Plc now owns 115,494 shares of the biopharmaceutical company’s stock valued at $2,407,000 after buying an additional 574 shares during the last quarter. Amalgamated Bank grew its position in shares of ACADIA Pharmaceuticals by 3.2% during the fourth quarter. Amalgamated Bank now owns 19,880 shares of the biopharmaceutical company’s stock worth $316,000 after buying an additional 622 shares in the last quarter. Handelsbanken Fonder AB increased its stake in shares of ACADIA Pharmaceuticals by 2.3% in the fourth quarter. Handelsbanken Fonder AB now owns 31,633 shares of the biopharmaceutical company’s stock worth $990,000 after buying an additional 700 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in ACADIA Pharmaceuticals by 1.6% in the fourth quarter. Franklin Resources Inc. now owns 50,405 shares of the biopharmaceutical company’s stock valued at $1,578,000 after acquiring an additional 803 shares in the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on ACAD. TheStreet raised ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a research note on Tuesday, February 27th. JPMorgan Chase & Co. reduced their target price on ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating on the stock in a research report on Monday, March 25th. Stifel Nicolaus upped their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $27.00 and gave the company a “hold” rating in a research note on Monday, December 18th. HC Wainwright reiterated a “buy” rating and set a $33.00 price objective on shares of ACADIA Pharmaceuticals in a report on Wednesday, February 28th. Finally, Royal Bank of Canada lowered their target price on shares of ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $35.82.

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.