ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) EVP Sells $54,065.55 in Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) EVP Mark C. Schneyer sold 3,171 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $17.05, for a total value of $54,065.55. Following the completion of the sale, the executive vice president now owns 56,889 shares of the company’s stock, valued at approximately $969,957.45. This represents a 5.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

ACADIA Pharmaceuticals Stock Down 0.7 %

Shares of ACAD opened at $17.07 on Friday. ACADIA Pharmaceuticals Inc. has a 52-week low of $14.15 and a 52-week high of $20.68. The company has a 50-day simple moving average of $18.34 and a 200-day simple moving average of $17.03. The company has a market capitalization of $2.85 billion, a PE ratio of 21.88 and a beta of 0.43.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ACAD. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Morgan Stanley reissued an “equal weight” rating and set a $20.00 price target on shares of ACADIA Pharmaceuticals in a report on Friday, March 7th. Guggenheim downgraded ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $23.00 to $20.00 in a research note on Friday, January 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $23.93.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its holdings in shares of ACADIA Pharmaceuticals by 380.3% in the 4th quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company’s stock worth $45,576,000 after acquiring an additional 1,966,607 shares during the period. Barclays PLC grew its holdings in ACADIA Pharmaceuticals by 126.2% in the third quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company’s stock valued at $4,269,000 after purchasing an additional 154,854 shares during the last quarter. Burney Co. purchased a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at $6,953,000. Proficio Capital Partners LLC acquired a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth $272,000. Finally, BNP Paribas Financial Markets boosted its position in shares of ACADIA Pharmaceuticals by 259.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 223,618 shares of the biopharmaceutical company’s stock worth $3,439,000 after buying an additional 161,331 shares in the last quarter. 96.71% of the stock is owned by hedge funds and other 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.