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

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) CFO Mark C. Schneyer sold 773 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $19.96, for a total value of $15,429.08. Following the completion of the transaction, the chief financial officer now owns 53,882 shares of the company’s stock, valued at approximately $1,075,484.72. The trade was a 1.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

ACADIA Pharmaceuticals Trading Down 2.4 %

ACAD traded down $0.47 during trading on Tuesday, hitting $19.01. The company’s stock had a trading volume of 1,744,658 shares, compared to its average volume of 2,845,743. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 24.37 and a beta of 0.37. The business’s fifty day simple moving average is $18.28 and its 200 day simple moving average is $16.78. ACADIA Pharmaceuticals Inc. has a twelve month low of $14.15 and a twelve month high of $26.56.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp raised its position in ACADIA Pharmaceuticals by 180.1% during 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 stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth about $64,000. CTC Alternative Strategies Ltd. acquired a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth about $1,012,000. Neo Ivy Capital Management lifted its stake in ACADIA Pharmaceuticals by 1,551.5% in the 4th quarter. Neo Ivy Capital Management now owns 57,504 shares of the biopharmaceutical company’s stock valued at $1,055,000 after buying an additional 54,022 shares in the last quarter. Finally, Alpine Global Management LLC acquired a new stake in ACADIA Pharmaceuticals in the 4th quarter worth about $1,020,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ACAD. Guggenheim lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $23.00 to $20.00 in a research report on Friday, January 3rd. Needham & Company LLC reissued a “buy” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. StockNews.com downgraded shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft began coverage on ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a “hold” rating and a $22.00 price target on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $24.00.

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.