Insider Selling: ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CFO Sells 773 Shares of 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 shares were sold at an average price of $19.96, for a total transaction of $15,429.08. Following the sale, the chief financial officer now owns 53,882 shares in the company, valued at $1,075,484.72. The trade was a 1.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

ACADIA Pharmaceuticals Stock Down 0.3 %

ACAD opened at $18.96 on Thursday. The business’s fifty day simple moving average is $18.32 and its 200 day simple moving average is $16.79. ACADIA Pharmaceuticals Inc. has a 52 week low of $14.15 and a 52 week high of $26.56. The stock has a market cap of $3.15 billion, a PE ratio of 24.30 and a beta of 0.37.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several institutional investors have recently modified their holdings of the company. Virtus Fund Advisers LLC bought a new position in ACADIA Pharmaceuticals during the fourth quarter valued at approximately $39,000. R Squared Ltd purchased a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $47,000. Quest Partners LLC grew its holdings in shares of ACADIA Pharmaceuticals by 42.3% during the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 1,047 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in ACADIA Pharmaceuticals in the 4th quarter worth $64,000. Finally, KBC Group NV lifted its stake in ACADIA Pharmaceuticals by 67.0% in the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock worth $93,000 after purchasing an additional 2,044 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on ACAD. Deutsche Bank Aktiengesellschaft started coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They set a “hold” rating and a $22.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. StockNews.com downgraded ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Guggenheim lowered ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their target price for the company from $23.00 to $20.00 in a report on Friday, January 3rd. Finally, HC Wainwright reissued a “buy” rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, ACADIA Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus 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.