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

ACADIA Pharmaceuticals Inc. (NASDAQ:ACADGet Free Report) CFO Mark C. Schneyer sold 773 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $19.96, for a total transaction of $15,429.08. Following the completion of the transaction, the chief financial officer now directly owns 53,882 shares in the company, valued at approximately $1,075,484.72. The trade was a 1.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

ACADIA Pharmaceuticals Stock Down 2.4 %

Shares of ACAD opened at $19.01 on Wednesday. The company has a market capitalization of $3.16 billion, a P/E ratio of 24.37 and a beta of 0.37. The firm has a 50 day moving average of $18.28 and a 200 day moving average of $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

Several institutional investors and hedge funds have recently made changes to their positions in ACAD. Creative Planning grew its position in ACADIA Pharmaceuticals by 71.4% in the 3rd quarter. Creative Planning now owns 25,061 shares of the biopharmaceutical company’s stock worth $385,000 after purchasing an additional 10,441 shares during the period. Allspring Global Investments Holdings LLC grew its position in ACADIA Pharmaceuticals by 11.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 121,625 shares of the biopharmaceutical company’s stock worth $1,871,000 after purchasing an additional 12,787 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in ACADIA Pharmaceuticals by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 1,066 shares during the period. China Universal Asset Management Co. Ltd. grew its position in ACADIA Pharmaceuticals by 64.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 31,903 shares of the biopharmaceutical company’s stock worth $491,000 after purchasing an additional 12,493 shares during the period. Finally, US Bancorp DE grew its position in ACADIA Pharmaceuticals by 2,084.0% in the 3rd quarter. US Bancorp DE now owns 32,934 shares of the biopharmaceutical company’s stock worth $507,000 after purchasing an additional 31,426 shares during the period. Institutional investors own 96.71% of the company’s stock.

Wall Street Analyst Weigh In

ACAD has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They issued a “hold” rating and a $22.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. Guggenheim cut ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their target price for the company from $23.00 to $20.00 in a research note on Friday, January 3rd. HC Wainwright reissued a “buy” rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. Finally, StockNews.com cut ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, ACADIA Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $24.00.

View Our Latest Report on ACAD

About ACADIA Pharmaceuticals

(Get Free Report)

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.

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