James Kihara Sells 1,095 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) insider James Kihara sold 1,095 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $17.05, for a total transaction of $18,669.75. Following the transaction, the insider now owns 21,275 shares in the company, valued at approximately $362,738.75. This trade represents a 4.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

James Kihara also recently made the following trade(s):

• On Monday, February 24th, James Kihara sold 475 shares of ACADIA Pharmaceuticals stock. The stock was sold at an average price of $19.96, for a total transaction of $9,481.00.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ:ACAD opened at $17.03 on Thursday. The company’s fifty day moving average is $18.35 and its 200-day moving average is $17.02. ACADIA Pharmaceuticals Inc. has a 52 week low of $14.15 and a 52 week high of $20.68. The company has a market capitalization of $2.84 billion, a PE ratio of 21.83 and a beta of 0.43.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth approximately $40,935,000. SG Americas Securities LLC grew its position in ACADIA Pharmaceuticals by 380.3% during 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 last quarter. Norges Bank bought a new position in ACADIA Pharmaceuticals in the 4th quarter valued at $25,555,000. Renaissance Technologies LLC boosted its stake in ACADIA Pharmaceuticals by 204.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,226,533 shares of the biopharmaceutical company’s stock worth $22,507,000 after purchasing an additional 823,333 shares in the last quarter. Finally, Two Sigma Advisers LP grew its holdings in shares of ACADIA Pharmaceuticals by 160.8% during the fourth quarter. Two Sigma Advisers LP now owns 1,263,200 shares of the biopharmaceutical company’s stock worth $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 and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ACAD. StockNews.com upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Deutsche Bank Aktiengesellschaft assumed coverage on ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They issued a “hold” rating and a $22.00 price objective on the stock. HC Wainwright restated a “buy” rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Cantor Fitzgerald reiterated an “overweight” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $20.00 target price on shares of ACADIA Pharmaceuticals in a research report on Friday, March 7th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.93.

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.