Insider Selling: ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) EVP Sells 3,171 Shares of Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) EVP Mark C. Schneyer sold 3,171 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $17.05, for a total value of $54,065.55. Following the transaction, the executive vice president now directly owns 56,889 shares of the company’s stock, valued at $969,957.45. This trade represents a 5.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

ACADIA Pharmaceuticals Stock Up 0.9 %

NASDAQ:ACAD opened at $17.19 on Friday. ACADIA Pharmaceuticals Inc. has a 52-week low of $14.15 and a 52-week high of $20.68. The firm has a market cap of $2.87 billion, a P/E ratio of 22.04 and a beta of 0.43. The business’s 50-day moving average price is $18.35 and its 200 day moving average price is $17.02.

Institutional Trading of ACADIA Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in ACAD. Virtus Fund Advisers LLC bought a new stake in ACADIA Pharmaceuticals during the fourth quarter worth approximately $39,000. R Squared Ltd bought a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter worth $47,000. GF Fund Management CO. LTD. bought a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter worth $64,000. Quest Partners LLC raised its position in shares of ACADIA Pharmaceuticals by 42.3% during the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 1,047 shares during the period. Finally, KBC Group NV lifted its holdings in shares of ACADIA Pharmaceuticals by 67.0% during the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock valued at $93,000 after purchasing an additional 2,044 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft began coverage on ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a “hold” rating and a $22.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. HC Wainwright reiterated a “buy” rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Finally, Guggenheim lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their price target for the company from $23.00 to $20.00 in a research note on Friday, January 3rd. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.93.

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.