ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Director Sells $89,673.37 in Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Director Elizabeth A. Garofalo sold 4,919 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total value of $89,673.37. Following the completion of the transaction, the director now directly owns 17,595 shares of the company’s stock, valued at approximately $320,756.85. The trade was a 21.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

ACADIA Pharmaceuticals Stock Performance

ACADIA Pharmaceuticals stock opened at $17.56 on Friday. The business’s 50-day simple moving average is $18.50 and its two-hundred day simple moving average is $16.93. The company has a market cap of $2.93 billion, a PE ratio of 22.51 and a beta of 0.43. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $14.15 and a fifty-two week high of $24.27.

Wall Street Analysts Forecast Growth

ACAD has been the subject of several recent research reports. Morgan Stanley reissued an “equal weight” rating and issued a $20.00 price target on shares of ACADIA Pharmaceuticals in a research report on Friday. Deutsche Bank Aktiengesellschaft began coverage on ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “hold” rating and a $22.00 price target for the company. Needham & Company LLC restated a “buy” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Guggenheim downgraded ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $23.00 to $20.00 in a research note on Friday, January 3rd. Finally, StockNews.com upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.00.

Institutional Trading of ACADIA Pharmaceuticals

Several large investors have recently added to or reduced their stakes in ACAD. Creative Planning grew its stake in ACADIA Pharmaceuticals by 71.4% during the 3rd quarter. Creative Planning now owns 25,061 shares of the biopharmaceutical company’s stock valued at $385,000 after purchasing an additional 10,441 shares during the last quarter. US Bancorp DE lifted its holdings in shares of ACADIA Pharmaceuticals by 2,084.0% in the 3rd quarter. US Bancorp DE now owns 32,934 shares of the biopharmaceutical company’s stock valued at $507,000 after buying an additional 31,426 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of ACADIA Pharmaceuticals by 67.8% in the 3rd quarter. Principal Financial Group Inc. now owns 129,551 shares of the biopharmaceutical company’s stock valued at $1,992,000 after buying an additional 52,340 shares during the period. Atria Investments Inc lifted its holdings in shares of ACADIA Pharmaceuticals by 10.8% in the 3rd quarter. Atria Investments Inc now owns 24,437 shares of the biopharmaceutical company’s stock valued at $376,000 after buying an additional 2,384 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of ACADIA Pharmaceuticals by 2.9% in the 3rd quarter. Victory Capital Management Inc. now owns 97,130 shares of the biopharmaceutical company’s stock valued at $1,494,000 after buying an additional 2,708 shares during the period. Hedge funds and other institutional investors own 96.71% of the company’s stock.

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.