ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CFO Mark C. Schneyer Sells 773 Shares

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CFO Mark C. Schneyer sold 773 shares of ACADIA Pharmaceuticals stock in a transaction 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 transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

ACADIA Pharmaceuticals Stock Down 2.4 %

ACADIA Pharmaceuticals stock opened at $19.01 on Wednesday. The company’s 50-day moving average price is $18.28 and its 200-day moving average price is $16.78. ACADIA Pharmaceuticals Inc. has a twelve month low of $14.15 and a twelve month high of $26.56. The company has a market cap of $3.16 billion, a PE ratio of 24.37 and a beta of 0.37.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Guggenheim cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their target price for the company from $23.00 to $20.00 in a research note on Friday, January 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They set a “hold” rating and a $22.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $27.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. Finally, StockNews.com cut shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Institutional Trading of ACADIA Pharmaceuticals

A number of large investors have recently made changes to their positions in ACAD. Point72 Asset Management L.P. bought a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter worth about $40,935,000. SG Americas Securities LLC increased 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 buying an additional 1,966,607 shares during the last quarter. Norges Bank bought a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter worth about $25,555,000. Renaissance Technologies LLC grew its holdings in ACADIA Pharmaceuticals by 204.2% during the 4th quarter. Renaissance Technologies LLC now owns 1,226,533 shares of the biopharmaceutical company’s stock valued at $22,507,000 after purchasing an additional 823,333 shares during the last quarter. Finally, Two Sigma Advisers LP grew its holdings in ACADIA Pharmaceuticals by 160.8% during the 4th quarter. Two Sigma Advisers LP now owns 1,263,200 shares of the biopharmaceutical company’s stock valued at $23,180,000 after purchasing an additional 778,900 shares during the last quarter. 96.71% of the stock is currently 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.