ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CFO Mark C. Schneyer Sells 5,434 Shares

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CFO Mark C. Schneyer sold 5,434 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $17.90, for a total value of $97,268.60. Following the completion of the sale, the chief financial officer now owns 26,183 shares in the company, valued at $468,675.70. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

ACADIA Pharmaceuticals Price Performance

ACADIA Pharmaceuticals stock opened at $18.20 on Thursday. ACADIA Pharmaceuticals Inc. has a 1 year low of $17.56 and a 1 year high of $33.99. The company’s 50 day simple moving average is $23.85 and its 200-day simple moving average is $24.48.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued 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 return on equity of 15.67% and a negative net margin of 8.44%. The company had revenue of $231.04 million for the quarter, compared to analysts’ expectations of $223.79 million. During the same quarter last year, the company earned ($0.26) EPS. ACADIA Pharmaceuticals’s revenue for the quarter was up 69.3% compared to the same quarter last year. Analysts predict that ACADIA Pharmaceuticals Inc. will post 0.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Quest Partners LLC acquired a new stake in ACADIA Pharmaceuticals during the 4th quarter worth $39,000. KBC Group NV acquired a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth about $83,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in ACADIA Pharmaceuticals in the 4th quarter valued at $100,000. Lazard Asset Management LLC lifted its position in ACADIA Pharmaceuticals by 35.8% in the second quarter. Lazard Asset Management LLC now owns 4,125 shares of the biopharmaceutical company’s stock valued at $98,000 after purchasing an additional 1,088 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its holdings in ACADIA Pharmaceuticals by 97.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 4,202 shares of the biopharmaceutical company’s stock worth $88,000 after acquiring an additional 2,070 shares during the period. 96.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. HC Wainwright reissued a “buy” rating and issued a $33.00 target price on shares of ACADIA Pharmaceuticals in a report on Wednesday, February 28th. Robert W. Baird started coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, January 30th. They set an “outperform” rating and a $40.00 target price on the stock. Morgan Stanley decreased their target price on ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 13th. StockNews.com raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, January 30th. Finally, JMP Securities reiterated a “market outperform” rating and set a $42.00 target price on shares of ACADIA Pharmaceuticals in a research report on Wednesday, February 7th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $36.12.

About ACADIA Pharmaceuticals

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.