Insider Selling: ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Insider Sells 1,028 Shares of Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report) insider James Kihara sold 1,028 shares of the stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $14.82, for a total value of $15,234.96. Following the sale, the insider now directly owns 22,257 shares of the company's stock, valued at approximately $329,848.74. This trade represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

James Kihara also recently made the following trade(s):

• On Wednesday, March 26th, James Kihara sold 1,095 shares of ACADIA Pharmaceuticals stock. The shares were sold at an average price of $17.05, for a total transaction of $18,669.75.
• On Monday, February 24th, James Kihara sold 475 shares of ACADIA Pharmaceuticals stock. The shares were sold at an average price of $19.96, for a total transaction of $9,481.00.

ACADIA Pharmaceuticals Price Performance

ACAD stock traded up $0.47 on Friday, reaching $14.58. 1,904,307 shares of the company traded hands, compared to its average volume of 1,856,316. The firm has a fifty day simple moving average of $17.57 and a 200-day simple moving average of $16.97. The company has a market cap of $2.43 billion, a P/E ratio of 18.69 and a beta of 0.54. ACADIA Pharmaceuticals Inc. has a one year low of $13.40 and a one year high of $20.68.

Analyst Upgrades and Downgrades

ACAD has been the topic of several recent analyst reports. Guggenheim cut ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and cut their target price for the stock from $23.00 to $20.00 in a research note on Friday, January 3rd. 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. Needham & Company LLC reissued a "buy" rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research note on Tuesday, April 8th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $20.00 price target on shares of ACADIA Pharmaceuticals in a research note on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a "hold" rating and a $22.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $23.93.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several large investors have recently modified their holdings of ACAD. SG Americas Securities LLC increased its stake in ACADIA Pharmaceuticals by 380.3% during 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 in the last quarter. Barclays PLC grew its holdings in shares of ACADIA Pharmaceuticals by 126.2% during the third quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company's stock valued at $4,269,000 after buying an additional 154,854 shares during the last quarter. Burney Co. bought a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter valued at approximately $6,953,000. Proficio Capital Partners LLC purchased a new position in ACADIA Pharmaceuticals in the 4th quarter worth approximately $272,000. Finally, State Street Corp lifted its position in ACADIA Pharmaceuticals by 3.0% in the 3rd quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company's stock valued at $91,878,000 after acquiring an additional 173,084 shares in the last quarter. Hedge funds and other 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.