Insider Selling: ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) EVP Sells $50,000.00 in Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) EVP Mark C. Schneyer sold 2,000 shares of the company’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $25.00, for a total transaction of $50,000.00. Following the sale, the executive vice president now directly owns 62,130 shares of the company’s stock, valued at approximately $1,553,250. This trade represents a 3.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

ACADIA Pharmaceuticals Trading Up 0.7%

ACAD stock opened at $21.85 on Thursday. The firm has a 50 day simple moving average of $16.20 and a 200-day simple moving average of $17.22. The company has a market capitalization of $3.66 billion, a P/E ratio of 28.01 and a beta of 0.47. ACADIA Pharmaceuticals Inc. has a twelve month low of $13.40 and a twelve month high of $25.23.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. The company had revenue of $244.32 million during the quarter, compared to analyst estimates of $239.32 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same period last year, the business earned $0.10 EPS. On average, research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current year.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of hedge funds have recently bought and sold shares of ACAD. Intech Investment Management LLC raised its stake in ACADIA Pharmaceuticals by 45.6% during the first quarter. Intech Investment Management LLC now owns 75,872 shares of the biopharmaceutical company’s stock valued at $1,260,000 after buying an additional 23,766 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of ACADIA Pharmaceuticals by 14.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 251,056 shares of the biopharmaceutical company’s stock valued at $4,170,000 after acquiring an additional 31,931 shares in the last quarter. Woodline Partners LP raised its position in shares of ACADIA Pharmaceuticals by 1,003.0% during the 1st quarter. Woodline Partners LP now owns 295,210 shares of the biopharmaceutical company’s stock valued at $4,903,000 after acquiring an additional 268,445 shares in the last quarter. Empowered Funds LLC bought a new position in ACADIA Pharmaceuticals during the first quarter worth $186,000. Finally, Great Lakes Advisors LLC boosted its holdings in ACADIA Pharmaceuticals by 13.5% in the first quarter. Great Lakes Advisors LLC now owns 612,680 shares of the biopharmaceutical company’s stock worth $10,177,000 after purchasing an additional 72,667 shares during the period. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ACAD has been the subject of several analyst reports. HC Wainwright upped their target price on ACADIA Pharmaceuticals from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft boosted their price target on ACADIA Pharmaceuticals from $20.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday. Robert W. Baird increased their price objective on shares of ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday. BMO Capital Markets lifted their price objective on shares of ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Morgan Stanley upped their target price on shares of ACADIA Pharmaceuticals from $20.00 to $24.00 and gave the company an “equal weight” rating in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $26.83.

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.