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SAN DIEGO—Mark C. Schneyer, the Executive Vice President and Chief Financial Officer of Acadia Pharmaceuticals Inc. (NASDAQ:ACAD), recently reported a significant stock transaction. On April 8, Schneyer sold 2,708 shares of Acadia's common stock at a price of $14.82 per share, amounting to a total of $40,132. The transaction comes as Acadia, currently valued at $2.34 billion, trades near its 52-week low of $13.87, having declined 13.6% in the past week. According to InvestingPro analysis, the company maintains strong financial health with a P/E ratio of 10.22. This sale was conducted to cover withholding taxes and related tax items stemming from the vesting of restricted stock units.
Earlier, on April 5, Schneyer acquired 5,275 shares of common stock through the vesting of restricted stock units, with no cash changing hands in this transaction. Following these transactions, Schneyer holds a total of 59,456 shares in the company.
In other recent news, Acadia Pharmaceuticals reported a strong financial performance for the fourth quarter of 2024, with revenue increasing by 12% year-over-year to $259.6 million. For the full year, the company's revenue reached $957.8 million, marking a 32% increase from the previous year, driven by significant sales of their key products, DAYBUE and NUPLAZID. TD Cowen maintained a Buy rating for Acadia Pharmaceuticals with a price target of $35.00, highlighting the company's fourth-quarter earnings that surpassed expectations and the optimistic revenue guidance for FY25. In contrast, Citizens JMP adjusted its price target for Acadia's shares to $37.00 from $39.00, while retaining a Market Outperform rating, noting the company's stabilization and projected growth for DAYBUE in the second half of 2025.
Acadia Pharmaceuticals also announced new employee stock awards under its 2024 Inducement Plan, aimed at incentivizing thirteen new hires with stock options and restricted stock units. Additionally, the company published a study in the journal Med, confirming the safety and tolerability of DAYBUE for treating Rett syndrome in young children, which influenced the FDA's approval for use in patients aged two years and older. Acadia Pharmaceuticals continues to advance its clinical pipeline with plans to initiate a Phase 2 trial for a treatment in Lewy Body Dementia in 2025 and anticipates releasing topline results from trials in Prader-Willi Syndrome and Alzheimer's Disease Psychosis in 2026. These developments reflect Acadia's ongoing efforts to enhance its market position and deliver value to both patients and shareholders.
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