Key Points
- ACADIA Pharmaceuticals EVP Mark Schneyer sold 3,321 shares at an average price of $20.88, generating proceeds of approximately $69,342 and reducing his direct ownership by 4.45%.
- ACADIA reported quarterly EPS of $0.18, beating estimates of $0.07, while revenue rose 16.4% year over year to $308 million.
- Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $31.34 versus the stock’s reported $20.59 opening price.
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report) EVP Mark Schneyer sold 3,321 shares of the business's stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $20.88, for a total transaction of $69,342.48. Following the completion of the sale, the executive vice president directly owned 71,322 shares of the company's stock, valued at $1,489,203.36. This represents a 4.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
ACADIA Pharmaceuticals Stock Performance
ACAD opened at $20.59 on Friday. The company has a market cap of $3.55 billion, a PE ratio of 9.27 and a beta of 0.88. The stock has a 50-day moving average of $23.74 and a 200-day moving average of $23.73. ACADIA Pharmaceuticals Inc. has a 52-week low of $18.39 and a 52-week high of $30.96.
ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.07 by $0.11. ACADIA Pharmaceuticals had a return on equity of 9.03% and a net margin of 33.42%. The company had revenue of $308.00 million for the quarter, compared to the consensus estimate of $296.55 million. During the same quarter last year, the company posted $0.16 earnings per share. The company's revenue for the quarter was up 16.4% compared to the same quarter last year. On average, research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.64 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on ACAD shares. Citigroup reissued a "buy" rating and set a $33.00 target price (down from $40.00) on shares of ACADIA Pharmaceuticals in a research report on Friday, September 25th. Needham & Company LLC reaffirmed a "buy" rating and issued a $35.00 price target on shares of ACADIA Pharmaceuticals in a research report on Monday, October 19th. Morgan Stanley lifted their price objective on ACADIA Pharmaceuticals from $27.00 to $28.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 25th. Wall Street Zen raised ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Tuesday. Finally, HC Wainwright decreased their target price on ACADIA Pharmaceuticals from $37.00 to $33.00 and set a "buy" rating for the company in a research note on Friday, September 25th. Thirteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, ACADIA Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $31.34.
Check Out Our Latest Report on ACADIA Pharmaceuticals
Hedge Funds Weigh In On ACADIA Pharmaceuticals
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of ACADIA Pharmaceuticals in the 2nd quarter worth approximately $569,634,000. First Trust Advisors LP grew its holdings in shares of ACADIA Pharmaceuticals by 47.3% during the 1st quarter. First Trust Advisors LP now owns 3,343,868 shares of the biopharmaceutical company's stock worth $74,435,000 after purchasing an additional 1,073,834 shares in the last quarter. Palo Alto Investors LP acquired a new stake in shares of ACADIA Pharmaceuticals during the 2nd quarter worth approximately $72,461,629. Dimensional Fund Advisors LP increased its position in shares of ACADIA Pharmaceuticals by 8.0% during the first quarter. Dimensional Fund Advisors LP now owns 3,155,160 shares of the biopharmaceutical company's stock valued at $70,222,000 after purchasing an additional 234,186 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of ACADIA Pharmaceuticals by 12.5% during the first quarter. Renaissance Technologies LLC now owns 1,724,196 shares of the biopharmaceutical company's stock valued at $38,381,000 after purchasing an additional 191,600 shares during the period. Institutional investors own 96.71% of the company's stock.
About ACADIA Pharmaceuticals
(
Get Free Report)
ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system and neuropsychiatric disorders. The company's research programs target conditions with significant unmet medical needs, including neurological and rare neurodevelopmental diseases.
ACADIA's commercial products include NUPLAZID (pimavanserin), an atypical antipsychotic approved in the United States to treat hallucinations and delusions associated with Parkinson's disease psychosis.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
