ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Director Elizabeth A. Garofalo Sells 4,919 Shares

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Director Elizabeth A. Garofalo sold 4,919 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total value of $89,673.37. Following the completion of the transaction, the director now directly owns 17,595 shares of the company’s stock, valued at $320,756.85. The trade was a 21.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

ACADIA Pharmaceuticals Stock Performance

Shares of ACADIA Pharmaceuticals stock opened at $17.56 on Friday. ACADIA Pharmaceuticals Inc. has a one year low of $14.15 and a one year high of $24.27. The company has a market cap of $2.93 billion, a price-to-earnings ratio of 22.51 and a beta of 0.43. The business’s 50 day moving average price is $18.50 and its 200 day moving average price is $16.93.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in ACAD. Point72 Asset Management L.P. purchased a new position in ACADIA Pharmaceuticals during the fourth quarter worth approximately $40,935,000. SG Americas Securities LLC lifted its position in ACADIA Pharmaceuticals by 380.3% during the fourth quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company’s stock worth $45,576,000 after buying an additional 1,966,607 shares in the last quarter. Norges Bank purchased a new position in ACADIA Pharmaceuticals during the fourth quarter worth approximately $25,555,000. Renaissance Technologies LLC lifted its position in ACADIA Pharmaceuticals by 204.2% during the fourth quarter. Renaissance Technologies LLC now owns 1,226,533 shares of the biopharmaceutical company’s stock worth $22,507,000 after buying an additional 823,333 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in ACADIA Pharmaceuticals by 160.8% during the fourth quarter. Two Sigma Advisers LP now owns 1,263,200 shares of the biopharmaceutical company’s stock worth $23,180,000 after buying an additional 778,900 shares in the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Analyst Ratings Changes

ACAD has been the topic of a number of recent analyst reports. Guggenheim downgraded ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $23.00 to $20.00 in a research report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft initiated coverage on ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a “hold” rating and a $22.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Morgan Stanley reiterated an “equal weight” rating and set a $20.00 price target on shares of ACADIA Pharmaceuticals in a research report on Friday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

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.