ACADIA Pharmaceuticals Target of Unusually Large Options Trading (NASDAQ:ACAD)

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report) was the recipient of some unusual options trading activity on Monday. Investors acquired 3,703 call options on the company. This is an increase of 308% compared to the typical daily volume of 908 call options.

ACADIA Pharmaceuticals Stock Down 2.3 %

ACAD traded down $0.39 during midday trading on Friday, reaching $16.79. 4,036,445 shares of the company's stock were exchanged, compared to its average volume of 1,770,982. ACADIA Pharmaceuticals has a one year low of $14.15 and a one year high of $20.68. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 21.53 and a beta of 0.43. The business has a 50-day simple moving average of $18.38 and a two-hundred day simple moving average of $17.00.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ACAD. Guggenheim lowered shares of ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $23.00 to $20.00 in a research note on Friday, January 3rd. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Needham & Company LLC reiterated a "buy" rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday, March 8th. Finally, Deutsche Bank Aktiengesellschaft started coverage on ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "hold" rating and a $22.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $24.00.

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Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, Director Elizabeth A. Garofalo sold 4,919 shares of ACADIA Pharmaceuticals stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total transaction of $89,673.37. Following the completion of the sale, the director now owns 17,595 shares of the company's stock, valued at approximately $320,756.85. This trade represents a 21.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 6,167 shares of company stock valued at $114,583 over the last ninety days. Corporate insiders own 28.30% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. acquired a new position in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $40,935,000. SG Americas Securities LLC raised its position in ACADIA Pharmaceuticals by 380.3% in the 4th quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company's stock valued at $45,576,000 after purchasing an additional 1,966,607 shares during the last quarter. Norges Bank acquired a new position in ACADIA Pharmaceuticals in the fourth quarter worth $25,555,000. Renaissance Technologies LLC grew its holdings in shares of 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 purchasing an additional 823,333 shares during the last quarter. Finally, Two Sigma Advisers LP increased its stake in shares of ACADIA Pharmaceuticals by 160.8% in the fourth quarter. Two Sigma Advisers LP now owns 1,263,200 shares of the biopharmaceutical company's stock valued at $23,180,000 after buying an additional 778,900 shares in the last quarter. 96.71% of the stock is owned by institutional investors.

ACADIA Pharmaceuticals Company Profile

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.