ACADIA Pharmaceuticals (NASDAQ:ACAD) EVP Mark Schneyer Sells 3,321 Shares of Company Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) EVP Mark Schneyer sold 3,321 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $20.88, for a total value of $69,342.48. Following the completion of the sale, the executive vice president owned 71,322 shares of the company’s stock, valued at approximately $1,489,203.36. The trade was a 4.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

ACADIA Pharmaceuticals Price Performance

Shares of ACADIA Pharmaceuticals stock traded down $0.17 during trading on Friday, reaching $20.59. 1,137,496 shares of the company traded hands, compared to its average volume of 1,691,177. ACADIA Pharmaceuticals Inc. has a 1-year low of $18.39 and a 1-year high of $30.96. The company has a 50 day moving average price of $23.74 and a 200-day moving average price of $23.73. The firm has a market capitalization of $3.55 billion, a PE ratio of 9.27 and a beta of 0.88.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.11. The business had revenue of $308.00 million for the quarter, compared to analyst estimates of $296.55 million. ACADIA Pharmaceuticals had a net margin of 33.42% and a return on equity of 9.03%. ACADIA Pharmaceuticals’s revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.16 earnings per share. Equities research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

ACAD has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft cut their price objective on shares of ACADIA Pharmaceuticals from $38.00 to $31.00 and set a “buy” rating on the stock in a research report on Friday, September 25th. Stifel Nicolaus boosted their target price on ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Oppenheimer reaffirmed a “market perform” rating on shares of ACADIA Pharmaceuticals in a research note on Wednesday, September 23rd. Royal Bank Of Canada cut their price target on ACADIA Pharmaceuticals from $37.00 to $36.00 and set an “outperform” rating on the stock in a report on Thursday, October 8th. Finally, BMO Capital Markets reduced their price objective on ACADIA Pharmaceuticals from $36.00 to $34.00 and set an “outperform” rating for the company in a research note on Thursday, September 24th. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $31.34.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. bought a new position in ACADIA Pharmaceuticals during the 2nd quarter valued at $569,634,000. First Trust Advisors LP grew its position in ACADIA Pharmaceuticals by 47.3% during the first quarter. First Trust Advisors LP now owns 3,343,868 shares of the biopharmaceutical company’s stock valued at $74,435,000 after buying an additional 1,073,834 shares during the period. Palo Alto Investors LP bought a new position in ACADIA Pharmaceuticals during the second quarter valued at about $72,461,629. Dimensional Fund Advisors LP increased its holdings in ACADIA Pharmaceuticals by 8.0% during the first quarter. Dimensional Fund Advisors LP now owns 3,155,160 shares of the biopharmaceutical company’s stock worth $70,222,000 after buying an additional 234,186 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in ACADIA Pharmaceuticals by 12.5% during the first quarter. Renaissance Technologies LLC now owns 1,724,196 shares of the biopharmaceutical company’s stock worth $38,381,000 after buying an additional 191,600 shares during the last quarter. Institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system and neuropsychiatric disorders. The company’s research programs target conditions with significant unmet medical needs, including neurological and rare neurodevelopmental diseases.

ACADIA’s commercial products include NUPLAZID (pimavanserin), an atypical antipsychotic approved in the United States to treat hallucinations and delusions associated with Parkinson’s disease psychosis.