Insider Selling: ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Insider Sells 1,095 Shares of Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Get Free Report) insider James Kihara sold 1,095 shares of the stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $17.05, for a total value of $18,669.75. Following the completion of the transaction, the insider now directly owns 21,275 shares in the company, valued at $362,738.75. This represents a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• 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 Stock Down 0.7 %

ACADIA Pharmaceuticals stock traded down $0.12 during midday trading on Friday, reaching $17.07. The company's stock had a trading volume of 872,276 shares, compared to its average volume of 1,823,322. The business has a 50-day simple moving average of $18.34 and a 200-day simple moving average of $17.04. The company has a market cap of $2.85 billion, a P/E ratio of 21.88 and a beta of 0.43. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $14.15 and a fifty-two week high of $20.68.

Analysts Set New Price Targets

ACAD has been the subject of a number of recent analyst reports. Cantor Fitzgerald restated an "overweight" rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Morgan Stanley restated an "equal weight" rating and set a $20.00 target price on shares of ACADIA Pharmaceuticals in a report on Friday, March 7th. Needham & Company LLC reissued a "buy" rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft assumed coverage on ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They set a "hold" rating and a $22.00 target price for the company. Finally, StockNews.com raised shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, ACADIA Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $23.93.

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Institutional Investors Weigh In On ACADIA Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in ACAD. Phocas Financial Corp. lifted its position in shares of ACADIA Pharmaceuticals by 79.0% during the 4th quarter. Phocas Financial Corp. now owns 107,811 shares of the biopharmaceutical company's stock worth $1,978,000 after buying an additional 47,596 shares during the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of ACADIA Pharmaceuticals during the fourth quarter worth approximately $2,106,000. Mackenzie Financial Corp increased its holdings in shares of ACADIA Pharmaceuticals by 180.1% in the 4th quarter. Mackenzie Financial Corp now owns 51,065 shares of the biopharmaceutical company's stock valued at $937,000 after acquiring an additional 32,833 shares during the period. GF Fund Management CO. LTD. purchased a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at $64,000. Finally, CTC Alternative Strategies Ltd. acquired a new stake in ACADIA Pharmaceuticals during the 4th quarter worth $1,012,000. 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.