Mark C. Schneyer Sells 773 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CFO Mark C. Schneyer sold 773 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $19.96, for a total value of $15,429.08. Following the transaction, the chief financial officer now directly owns 53,882 shares in the company, valued at approximately $1,075,484.72. This trade represents a 1.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

ACADIA Pharmaceuticals Price Performance

Shares of ACADIA Pharmaceuticals stock opened at $18.96 on Thursday. The firm has a market cap of $3.15 billion, a PE ratio of 24.30 and a beta of 0.37. ACADIA Pharmaceuticals Inc. has a 1 year low of $14.15 and a 1 year high of $26.56. The stock has a fifty day moving average price of $18.32 and a 200-day moving average price of $16.79.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ACAD shares. Deutsche Bank Aktiengesellschaft initiated coverage on ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They set a “hold” rating and a $22.00 price objective for the company. StockNews.com lowered shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. Guggenheim cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $23.00 to $20.00 in a report on Friday, January 3rd. Finally, HC Wainwright restated a “buy” rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

Institutional Trading of ACADIA Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in ACAD. Virtus Fund Advisers LLC purchased a new position in ACADIA Pharmaceuticals in the fourth quarter valued at about $39,000. R Squared Ltd purchased a new position in ACADIA Pharmaceuticals in the fourth quarter valued at approximately $47,000. Quest Partners LLC lifted its stake in ACADIA Pharmaceuticals by 42.3% in the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 1,047 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in ACADIA Pharmaceuticals during the fourth quarter valued at $64,000. Finally, KBC Group NV increased its position in ACADIA Pharmaceuticals by 67.0% in the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock worth $93,000 after buying an additional 2,044 shares during the last quarter. Hedge funds and other institutional investors 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.