Insider Selling: ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) EVP Sells 3,171 Shares of Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) EVP Mark C. Schneyer sold 3,171 shares of the company’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $17.05, for a total transaction of $54,065.55. Following the completion of the sale, the executive vice president now directly owns 56,889 shares of the company’s stock, valued at approximately $969,957.45. This trade represents a 5.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

ACADIA Pharmaceuticals Stock Performance

ACAD stock traded down $0.08 during midday trading on Wednesday, reaching $17.03. The stock had a trading volume of 902,668 shares, compared to its average volume of 1,762,028. The firm has a fifty day simple moving average of $18.35 and a two-hundred day simple moving average of $17.02. ACADIA Pharmaceuticals Inc. has a 52-week low of $14.15 and a 52-week high of $20.68. The stock has a market cap of $2.84 billion, a PE ratio of 21.83 and a beta of 0.43.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ACAD shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Morgan Stanley restated an “equal weight” rating and set a $20.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Friday, March 7th. StockNews.com upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a “hold” rating and a $22.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, ACADIA Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $23.93.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ACAD. Phocas Financial Corp. increased its holdings in ACADIA Pharmaceuticals by 79.0% in the 4th quarter. Phocas Financial Corp. now owns 107,811 shares of the biopharmaceutical company’s stock worth $1,978,000 after buying an additional 47,596 shares during the period. Jefferies Financial Group Inc. purchased a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $2,106,000. Mackenzie Financial Corp increased its stake in shares of ACADIA Pharmaceuticals by 180.1% in the fourth quarter. Mackenzie Financial Corp now owns 51,065 shares of the biopharmaceutical company’s stock worth $937,000 after acquiring an additional 32,833 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of ACADIA Pharmaceuticals during the fourth quarter worth $64,000. Finally, CTC Alternative Strategies Ltd. acquired a new position in ACADIA Pharmaceuticals during the fourth quarter valued at $1,012,000. 96.71% of the stock is currently 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.