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

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) insider James Kihara sold 1,028 shares of the firm’s stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $14.82, for a total value of $15,234.96. Following the completion of the sale, the insider now directly owns 22,257 shares in the company, valued at approximately $329,848.74. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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 value 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 Stock Performance

ACAD opened at $14.96 on Thursday. The company has a fifty day moving average price of $17.74 and a two-hundred day moving average price of $16.98. ACADIA Pharmaceuticals Inc. has a 52 week low of $13.40 and a 52 week high of $20.68. The firm has a market capitalization of $2.50 billion, a PE ratio of 19.18 and a beta of 0.54.

Analysts Set New Price Targets

Several research firms recently weighed in on ACAD. Cantor Fitzgerald reiterated an “overweight” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft began coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They set a “hold” rating and a $22.00 price target for the company. Morgan Stanley restated an “equal weight” rating and set a $20.00 price target on shares of ACADIA Pharmaceuticals in a research note on Friday, March 7th. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Finally, Guggenheim cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their price target for the stock from $23.00 to $20.00 in a research note on Friday, January 3rd. 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.93.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the company. Summit Investment Advisors Inc. grew its holdings in shares of ACADIA Pharmaceuticals by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 12,519 shares of the biopharmaceutical company’s stock valued at $230,000 after buying an additional 795 shares during the period. Arete Wealth Advisors LLC lifted its position in ACADIA Pharmaceuticals by 15.9% in the 4th quarter. Arete Wealth Advisors LLC now owns 13,700 shares of the biopharmaceutical company’s stock valued at $251,000 after acquiring an additional 1,875 shares in the last quarter. KBC Group NV lifted its position in ACADIA Pharmaceuticals by 67.0% in the 4th quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock valued at $93,000 after acquiring an additional 2,044 shares in the last quarter. Virtus Fund Advisers LLC bought a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at $39,000. Finally, R Squared Ltd bought a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at $47,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

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.