ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CFO Mark C. Schneyer Sells 773 Shares

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CFO Mark C. Schneyer sold 773 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, February 24th. The stock was sold at an average price of $19.96, for a total transaction of $15,429.08. Following the sale, the chief financial officer now directly owns 53,882 shares in the company, valued at approximately $1,075,484.72. This trade represents a 1.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

ACADIA Pharmaceuticals Stock Down 2.4 %

ACAD stock traded down $0.47 during mid-day trading on Tuesday, hitting $19.01. 1,744,658 shares of the company were exchanged, compared to its average volume of 2,845,743. ACADIA Pharmaceuticals Inc. has a 12-month low of $14.15 and a 12-month high of $26.56. The firm has a market capitalization of $3.16 billion, a P/E ratio of 24.37 and a beta of 0.37. The business has a fifty day simple moving average of $18.28 and a 200-day simple moving average of $16.78.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ACAD shares. StockNews.com downgraded shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Guggenheim cut ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $23.00 to $20.00 in a report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “hold” rating and a $22.00 price target for the company. HC Wainwright reissued a “buy” rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. Finally, Needham & Company LLC restated a “buy” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, ACADIA Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. Summit Investment Advisors Inc. grew its stake in shares of ACADIA Pharmaceuticals by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 12,519 shares of the biopharmaceutical company’s stock valued at $230,000 after buying an additional 795 shares in the last quarter. Quest Partners LLC boosted its stake in shares of ACADIA Pharmaceuticals by 42.3% in the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 1,047 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of ACADIA Pharmaceuticals by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock worth $94,000 after acquiring an additional 1,066 shares in the last quarter. Arete Wealth Advisors LLC increased its position in shares of ACADIA Pharmaceuticals by 15.9% during the fourth quarter. Arete Wealth Advisors LLC now owns 13,700 shares of the biopharmaceutical company’s stock worth $251,000 after acquiring an additional 1,875 shares during the period. Finally, KBC Group NV raised its stake in shares of ACADIA Pharmaceuticals by 67.0% in the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock valued at $93,000 after acquiring an additional 2,044 shares in the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

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.