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

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report) Director Elizabeth A. Garofalo sold 4,919 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total value of $89,673.37. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD stock traded down $0.37 during midday trading on Monday, reaching $17.19. 1,788,126 shares of the company traded hands, compared to its average volume of 2,630,476. The firm's 50 day simple moving average is $18.50 and its two-hundred day simple moving average is $16.94. The firm has a market cap of $2.87 billion, a PE ratio of 22.04 and a beta of 0.43. ACADIA Pharmaceuticals Inc. has a 1-year low of $14.15 and a 1-year high of $24.27.

Institutional Trading of ACADIA Pharmaceuticals

Several large investors have recently bought and sold shares of the company. Virtus Fund Advisers LLC purchased a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter worth about $39,000. R Squared Ltd acquired a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $47,000. GF Fund Management CO. LTD. acquired a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $64,000. Quest Partners LLC raised its position in shares of ACADIA Pharmaceuticals by 42.3% during the 3rd 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 last quarter. Finally, KBC Group NV raised its position in shares of ACADIA Pharmaceuticals by 67.0% during the 4th quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company's stock worth $93,000 after purchasing an additional 2,044 shares during the last quarter. Institutional investors and hedge funds own 96.71% of the company's stock.

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Analyst Ratings Changes

ACAD has been the subject of several research analyst reports. HC Wainwright reissued a "buy" rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Guggenheim lowered shares of ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $23.00 to $20.00 in a research note on Friday, January 3rd. Needham & Company LLC reiterated a "buy" rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Morgan Stanley restated an "equal weight" rating and issued a $20.00 price target on shares of ACADIA Pharmaceuticals in a research report on Friday. Finally, StockNews.com raised ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price 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.