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

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

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD stock traded down $0.12 on Friday, hitting $17.07. The company had a trading volume of 872,276 shares, compared to its average volume of 1,823,322. ACADIA Pharmaceuticals Inc. has a twelve month low of $14.15 and a twelve month high of $20.68. The firm has a market cap of $2.85 billion, a P/E ratio of 21.88 and a beta of 0.43. The stock's 50-day moving average is $18.34 and its two-hundred day moving average is $17.04.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ACAD shares. Morgan Stanley reiterated an "equal weight" rating and issued a $20.00 price target on shares of ACADIA Pharmaceuticals in a research report on Friday, March 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft began coverage on ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They issued a "hold" rating and a $22.00 price target for the company. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. Finally, HC Wainwright restated a "buy" rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.93.

Remove Ads

Hedge Funds Weigh In On ACADIA Pharmaceuticals

A number of hedge funds have recently bought and sold shares of ACAD. Virtus Fund Advisers LLC acquired a new stake in ACADIA Pharmaceuticals during the 4th quarter worth about $39,000. R Squared Ltd bought a new stake in ACADIA Pharmaceuticals in the fourth quarter worth approximately $47,000. GF Fund Management CO. LTD. bought a new stake in ACADIA Pharmaceuticals in the fourth quarter worth approximately $64,000. Quest Partners LLC lifted its stake in 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 buying an additional 1,047 shares during the period. Finally, KBC Group NV boosted its holdings 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 buying an additional 2,044 shares in the last quarter. 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.