Mark C. Schneyer Sells 9,733 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CFO Mark C. Schneyer sold 9,733 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $148,720.24. Following the completion of the sale, the chief financial officer now directly owns 43,735 shares in the company, valued at $668,270.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ:ACAD traded down $0.19 during midday trading on Tuesday, reaching $15.57. The company had a trading volume of 1,104,350 shares, compared to its average volume of 1,808,484. ACADIA Pharmaceuticals Inc. has a one year low of $14.55 and a one year high of $32.59. The stock has a market capitalization of $2.57 billion, a P/E ratio of -1,564.00 and a beta of 0.38. The stock’s fifty day moving average price is $16.67 and its 200-day moving average price is $18.29.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.02. ACADIA Pharmaceuticals had a negative net margin of 0.21% and a negative return on equity of 0.41%. The company had revenue of $241.96 million during the quarter, compared to the consensus estimate of $235.95 million. During the same quarter in the previous year, the firm earned $0.01 EPS. The company’s revenue was up 46.4% on a year-over-year basis. As a group, sell-side analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.58 earnings per share for the current year.

Wall Street Analyst Weigh In

ACAD has been the subject of several research reports. BMO Capital Markets initiated coverage on shares of ACADIA Pharmaceuticals in a research note on Thursday, June 27th. They set an “outperform” rating and a $31.00 price objective for the company. Cantor Fitzgerald dropped their price target on ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Royal Bank of Canada reduced their price objective on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Robert W. Baird cut their price target on shares of ACADIA Pharmaceuticals from $31.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Finally, Morgan Stanley downgraded shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $28.00 to $20.00 in a research note on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $25.56.

Institutional Trading of ACADIA Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. Quest Partners LLC acquired a new position in shares of ACADIA Pharmaceuticals during the fourth quarter worth approximately $39,000. Covestor Ltd grew its stake in shares of ACADIA Pharmaceuticals by 70.5% in the first quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 840 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of ACADIA Pharmaceuticals during the first quarter valued at about $48,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in ACADIA Pharmaceuticals in the fourth quarter worth about $100,000. Finally, Acadian Asset Management LLC bought a new position in ACADIA Pharmaceuticals in the 2nd quarter valued at about $111,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

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.