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SAN DIEGO—Mark C. Schneyer, the Executive Vice President and Chief Financial Officer of Acadia Pharmaceuticals Inc. (NASDAQ:ACAD), a $2.47 billion market cap company with strong financial health, recently sold shares of the company’s common stock valued at approximately $51,070, according to a recent SEC filing. InvestingPro data shows the company maintains robust liquidity with a current ratio of 2.38.
On May 2, Schneyer sold 3,498 shares at a price of $14.60 per share. This transaction was part of a mandatory sale to cover withholding taxes and tax-related items associated with the vesting of restricted stock units. Following this transaction, Schneyer holds 62,773 shares of Acadia Pharmaceuticals. With the stock currently trading at $14.91 and showing signs of being undervalued according to InvestingPro analysis, investors might want to explore the comprehensive Pro Research Report available for this profitable company.
Earlier, on May 1, Schneyer acquired 6,815 shares through the vesting of restricted stock units, which were converted to common stock at no cost. The restricted stock units vest in four equal annual installments beginning May 1, 2024. With the company’s upcoming earnings report in 5 days and a favorable P/E ratio of 10.74, investors can access more detailed analysis and 6 additional ProTips through InvestingPro.
In other recent news, Acadia Pharmaceuticals reported a strong financial performance for the fourth quarter of 2024, with revenue increasing 12% year-over-year to $259.6 million. The company’s total revenue for the year reached $957.8 million, marking a 32% increase from the previous year. Acadia’s DAYBUE product saw a 97% surge in sales in 2024, significantly contributing to the company’s growth. Looking ahead, Acadia projects its 2025 revenue to be between $1.03 billion and $1.095 billion, with DAYBUE sales expected to range from $380 million to $450 million.
In other developments, TD Cowen maintained a Buy rating on Acadia Pharmaceuticals, with a price target of $35, following the company’s fourth-quarter earnings that exceeded expectations. Meanwhile, Citizens JMP adjusted its price target on Acadia shares to $37 from $39, retaining a Market Outperform rating. Acadia has also announced the publication of a study supporting the safety of DAYBUE for treating Rett syndrome in young children, a move that aligns with the FDA’s approval for patients aged two and older.
Additionally, Acadia Pharmaceuticals has granted inducement stock awards to new employees as part of its 2024 Inducement Plan, aiming to incentivize new hires. The company continues to advance its clinical pipeline, including preparations for a Phase 2 trial for ’204 in Lewy Body Dementia and anticipated Phase 3 trial results for ’101 in Prader-Willi Syndrome. These developments are part of Acadia’s long-term strategy to enhance its market position and expand treatment options for neurological disorders.
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