Traders Purchase High Volume of Call Options on ACADIA Pharmaceuticals (NASDAQ:ACAD)

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) was the target of some unusual options trading on Monday. Stock investors purchased 3,703 call options on the stock. This represents an increase of 308% compared to the typical volume of 908 call options.

ACADIA Pharmaceuticals Stock Performance

ACAD stock opened at $17.28 on Wednesday. ACADIA Pharmaceuticals has a 52 week low of $14.15 and a 52 week high of $20.68. The company has a market capitalization of $2.88 billion, a PE ratio of 22.15 and a beta of 0.43. The company’s 50-day simple moving average is $18.40 and its 200 day simple moving average is $17.00.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft started coverage on ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “hold” rating and a $22.00 target price on the stock. Morgan Stanley reissued an “equal weight” rating and set a $20.00 price target on shares of ACADIA Pharmaceuticals in a research report on Friday, March 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Guggenheim lowered ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $23.00 to $20.00 in a research report on Friday, January 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 4,919 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total transaction of $89,673.37. Following the completion of the transaction, the director now owns 17,595 shares in the company, valued at approximately $320,756.85. This represents a 21.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders sold 6,167 shares of company stock worth $114,583. 28.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Virtus Fund Advisers LLC acquired a new stake in ACADIA Pharmaceuticals during the fourth quarter worth approximately $39,000. R Squared Ltd acquired a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter worth $47,000. Quest Partners LLC increased its position in shares of ACADIA Pharmaceuticals by 42.3% in the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 1,047 shares during the period. GF Fund Management CO. LTD. acquired a new position in ACADIA Pharmaceuticals in the fourth quarter valued at about $64,000. 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 purchasing an additional 2,044 shares during the period. 96.71% of the stock is owned by institutional investors.

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.