ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CFO Sells $172,453.79 in Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CFO Mark C. Schneyer sold 10,259 shares of ACADIA Pharmaceuticals stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $172,453.79. Following the sale, the chief financial officer now directly owns 53,302 shares in the company, valued at $896,006.62. The trade was a 16.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

ACADIA Pharmaceuticals Stock Down 4.8 %

Shares of ACADIA Pharmaceuticals stock traded down $0.82 on Tuesday, reaching $16.21. The company’s stock had a trading volume of 1,562,268 shares, compared to its average volume of 1,681,843. ACADIA Pharmaceuticals Inc. has a 52 week low of $14.15 and a 52 week high of $32.59. The firm’s fifty day simple moving average is $15.60 and its two-hundred day simple moving average is $15.99. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 20.78 and a beta of 0.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.14 by $0.06. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The company had revenue of $250.40 million during the quarter, compared to the consensus estimate of $248.83 million. During the same period last year, the company earned ($0.40) EPS. ACADIA Pharmaceuticals’s revenue for the quarter was up 18.3% on a year-over-year basis. As a group, research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.72 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ACAD shares. Royal Bank of Canada reduced their target price on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Citigroup decreased their price objective on ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Raymond James restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, October 10th. UBS Group decreased their price target on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Morgan Stanley lowered shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $28.00 to $20.00 in a research note on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.56.

Institutional Trading of ACADIA Pharmaceuticals

A number of large investors have recently made changes to their positions in ACAD. Marshall Wace LLP boosted its holdings in ACADIA Pharmaceuticals by 431.1% in the second quarter. Marshall Wace LLP now owns 2,774,353 shares of the biopharmaceutical company’s stock worth $45,083,000 after purchasing an additional 2,251,940 shares during the last quarter. Millennium Management LLC boosted its stake in shares of ACADIA Pharmaceuticals by 36.2% in the 2nd quarter. Millennium Management LLC now owns 2,937,714 shares of the biopharmaceutical company’s stock worth $47,738,000 after buying an additional 781,070 shares during the last quarter. Iron Triangle Partners LP bought a new stake in shares of ACADIA Pharmaceuticals in the third quarter worth $11,535,000. Dimensional Fund Advisors LP purchased a new stake in ACADIA Pharmaceuticals during the second quarter valued at $10,550,000. Finally, Eventide Asset Management LLC purchased a new stake in ACADIA Pharmaceuticals during the third quarter valued at $8,882,000. 96.71% of the stock is currently owned by institutional investors.

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.