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 business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $19.96, for a total transaction of $15,429.08. Following the completion of the sale, the chief financial officer now owns 53,882 shares in the company, valued at approximately $1,075,484.72. This trade represents a 1.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

ACADIA Pharmaceuticals Trading Up 1.8 %

Shares of NASDAQ ACAD opened at $19.34 on Friday. ACADIA Pharmaceuticals Inc. has a twelve month low of $14.15 and a twelve month high of $25.20. The stock has a 50 day moving average of $18.37 and a two-hundred day moving average of $16.81. The stock has a market cap of $3.22 billion, a P/E ratio of 24.79 and a beta of 0.37.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACAD. Creative Planning lifted its stake in ACADIA Pharmaceuticals by 71.4% in the third quarter. Creative Planning now owns 25,061 shares of the biopharmaceutical company’s stock valued at $385,000 after buying an additional 10,441 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in ACADIA Pharmaceuticals by 11.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 121,625 shares of the biopharmaceutical company’s stock valued at $1,871,000 after buying an additional 12,787 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of ACADIA Pharmaceuticals by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 1,066 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of ACADIA Pharmaceuticals by 64.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 31,903 shares of the biopharmaceutical company’s stock worth $491,000 after purchasing an additional 12,493 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of ACADIA Pharmaceuticals by 2,084.0% during the third quarter. US Bancorp DE now owns 32,934 shares of the biopharmaceutical company’s stock worth $507,000 after purchasing an additional 31,426 shares during the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Analyst Upgrades and Downgrades

ACAD has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They issued a “hold” rating and a $22.00 price objective on the stock. StockNews.com lowered shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday. Finally, Guggenheim downgraded ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their target price for the company from $23.00 to $20.00 in a research report on Friday, January 3rd. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

ACADIA Pharmaceuticals Company Profile

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.