ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) EVP Mark C. Schneyer Sells 2,708 Shares of Stock

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) EVP Mark C. Schneyer sold 2,708 shares of the stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $14.82, for a total value of $40,132.56. Following the transaction, the executive vice president now directly owns 59,456 shares in the company, valued at approximately $881,137.92. The trade was a 4.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

ACADIA Pharmaceuticals Trading Down 3.5 %

ACAD stock opened at $14.10 on Wednesday. The company has a market capitalization of $2.35 billion, a P/E ratio of 18.08 and a beta of 0.54. The business has a 50 day simple moving average of $17.89 and a 200-day simple moving average of $17.00. ACADIA Pharmaceuticals Inc. has a twelve month low of $13.87 and a twelve month high of $20.68.

Analysts Set New Price Targets

Several research firms have recently commented on ACAD. HC Wainwright reissued a “buy” rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. StockNews.com raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a “hold” rating and a $22.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $23.93.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Several hedge funds have recently made changes to their positions in ACAD. Summit Investment Advisors Inc. lifted its position in ACADIA Pharmaceuticals by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 12,519 shares of the biopharmaceutical company’s stock worth $230,000 after acquiring an additional 795 shares during the period. Arete Wealth Advisors LLC lifted its holdings in shares of ACADIA Pharmaceuticals by 15.9% during the fourth quarter. Arete Wealth Advisors LLC now owns 13,700 shares of the biopharmaceutical company’s stock worth $251,000 after purchasing an additional 1,875 shares during the period. KBC Group NV increased its stake in ACADIA Pharmaceuticals by 67.0% in the 4th quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock valued at $93,000 after buying an additional 2,044 shares during the period. Virtus Fund Advisers LLC purchased a new position in ACADIA Pharmaceuticals during the 4th quarter worth $39,000. Finally, R Squared Ltd acquired a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter worth $47,000. Institutional investors and hedge funds 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.