ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CFO Sells $15,429.08 in Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CFO Mark C. Schneyer sold 773 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $19.96, for a total value of $15,429.08. Following the sale, the chief financial officer now owns 53,882 shares of the company’s stock, valued at $1,075,484.72. This trade represents a 1.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

ACADIA Pharmaceuticals Stock Up 1.8 %

ACAD opened at $19.34 on Friday. The firm has a market cap of $3.22 billion, a P/E ratio of 24.79 and a beta of 0.37. ACADIA Pharmaceuticals Inc. has a 52 week low of $14.15 and a 52 week high of $25.20. The business’s fifty day simple moving average is $18.37 and its 200 day simple moving average is $16.81.

Institutional Trading of ACADIA Pharmaceuticals

Large investors have recently made changes to their positions in the stock. Virtus Fund Advisers LLC purchased a new position in ACADIA Pharmaceuticals during the fourth quarter worth about $39,000. R Squared Ltd purchased a new position in ACADIA Pharmaceuticals during the fourth quarter worth about $47,000. GF Fund Management CO. LTD. purchased a new position in ACADIA Pharmaceuticals during the fourth quarter worth about $64,000. Quest Partners LLC lifted its position in ACADIA Pharmaceuticals by 42.3% during the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after buying an additional 1,047 shares during the period. Finally, KBC Group NV lifted its position in ACADIA Pharmaceuticals by 67.0% during the fourth 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 during the period. Institutional investors and hedge funds own 96.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ACAD. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday. StockNews.com lowered ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft began coverage on ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They set a “hold” rating and a $22.00 price objective on the stock. Finally, Guggenheim lowered ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $23.00 to $20.00 in a report on Friday, January 3rd. 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, the stock has a consensus rating of “Moderate Buy” and an average 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.