Insider Selling: ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CFO Sells 653 Shares of Stock
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Get Rating) CFO Mark C. Schneyer sold 653 shares of ACADIA Pharmaceuticals stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $17.91, for a total value of $11,695.23. Following the transaction, the chief financial officer now directly owns 3,342 shares in the company, valued at $59,855.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of NASDAQ ACAD traded down $0.34 during mid-day trading on Friday, reaching $17.09. 2,038,682 shares of the company were exchanged, compared to its average volume of 1,553,374. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of -12.85 and a beta of 0.68. ACADIA Pharmaceuticals Inc. has a 1 year low of $15.16 and a 1 year high of $28.06. The firm has a 50-day moving average of $19.38 and a 200 day moving average of $22.17.
ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The biopharmaceutical company reported ($0.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.21). The company had revenue of $115.47 million for the quarter, compared to analysts’ expectations of $122.22 million. ACADIA Pharmaceuticals had a negative return on equity of 40.52% and a negative net margin of 43.50%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.42) earnings per share. Analysts anticipate that ACADIA Pharmaceuticals Inc. will post -1.41 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in the business. Lazard Asset Management LLC raised its stake in ACADIA Pharmaceuticals by 19.4% in the fourth quarter. Lazard Asset Management LLC now owns 3,115 shares of the biopharmaceutical company’s stock valued at $72,000 after buying an additional 506 shares during the last quarter. Parallel Advisors LLC raised its stake in ACADIA Pharmaceuticals by 74.8% in the fourth quarter. Parallel Advisors LLC now owns 1,365 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 584 shares during the last quarter. Voya Investment Management LLC raised its stake in ACADIA Pharmaceuticals by 1.4% in the third quarter. Voya Investment Management LLC now owns 47,779 shares of the biopharmaceutical company’s stock valued at $794,000 after buying an additional 644 shares during the last quarter. Principal Financial Group Inc. raised its stake in ACADIA Pharmaceuticals by 2.2% in the first quarter. Principal Financial Group Inc. now owns 40,349 shares of the biopharmaceutical company’s stock valued at $977,000 after buying an additional 884 shares during the last quarter. Finally, Allworth Financial LP raised its stake in ACADIA Pharmaceuticals by 1,081.3% in the fourth quarter. Allworth Financial LP now owns 1,075 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 984 shares during the last quarter. Institutional investors own 91.74% of the company’s stock.
A number of research analysts have recently weighed in on ACAD shares. JMP Securities lowered their price objective on ACADIA Pharmaceuticals from $42.00 to $35.00 and set a “market outperform” rating on the stock in a research report on Tuesday, March 1st. Cantor Fitzgerald upped their price objective on ACADIA Pharmaceuticals from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, March 10th. The Goldman Sachs Group decreased their price objective on ACADIA Pharmaceuticals from $27.00 to $24.00 and set a “neutral” rating on the stock in a report on Monday, March 7th. Citigroup upped their price objective on ACADIA Pharmaceuticals from $30.00 to $32.00 in a report on Tuesday, March 1st. Finally, Morgan Stanley reaffirmed a “hold” rating and set a $24.00 price objective on shares of ACADIA Pharmaceuticals in a report on Friday, March 18th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $29.41.
ACADIA Pharmaceuticals Company Profile (Get Rating)
ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis.
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