Insider Selling: ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CFO Sells $59,340.82 in Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CFO Mark C. Schneyer sold 3,503 shares of the business’s stock in a transaction dated 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 sale was disclosed in a legal filing with the SEC, which is available through this link.

ACADIA Pharmaceuticals Price Performance

ACADIA Pharmaceuticals stock opened at $17.05 on Monday. The business has a fifty day moving average price of $19.15 and a 200-day moving average price of $23.33. The firm has a market capitalization of $2.82 billion, a P/E ratio of -44.87 and a beta of 0.42. ACADIA Pharmaceuticals Inc. has a one year low of $16.16 and a one year high of $33.99.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly 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 company had revenue of $231.04 million for the quarter, compared to the consensus estimate of $223.79 million. During the same quarter in the prior year, the company earned ($0.26) earnings per share. The company’s quarterly revenue was up 69.3% on a year-over-year basis. Sell-side analysts expect that ACADIA Pharmaceuticals Inc. will post 0.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on ACAD. Needham & Company LLC restated a “buy” rating and set a $32.00 price objective on shares of ACADIA Pharmaceuticals in a report on Tuesday, April 9th. JMP Securities reissued a “market outperform” rating and issued a $42.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Wednesday, February 7th. Oppenheimer restated a “market perform” rating and issued a $25.00 target price on shares of ACADIA Pharmaceuticals in a report on Monday, February 5th. TheStreet raised ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a research report on Tuesday, February 27th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $33.00 price objective on shares of ACADIA Pharmaceuticals in a report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.13.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James & Associates lifted its holdings in shares of ACADIA Pharmaceuticals by 18.1% during the 3rd quarter. Raymond James & Associates now owns 10,614 shares of the biopharmaceutical company’s stock worth $221,000 after acquiring an additional 1,630 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in ACADIA Pharmaceuticals by 12.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,405 shares of the biopharmaceutical company’s stock worth $488,000 after purchasing an additional 2,548 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of ACADIA Pharmaceuticals by 8.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,338 shares of the biopharmaceutical company’s stock worth $1,695,000 after purchasing an additional 6,519 shares in the last quarter. Emerald Advisers LLC increased its position in shares of ACADIA Pharmaceuticals by 4.0% during the 3rd quarter. Emerald Advisers LLC now owns 1,681,052 shares of the biopharmaceutical company’s stock valued at $35,033,000 after purchasing an additional 64,100 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust raised its holdings in shares of ACADIA Pharmaceuticals by 1.0% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 1,303,988 shares of the biopharmaceutical company’s stock valued at $27,175,000 after buying an additional 12,894 shares in the last quarter. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

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.