Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) were up 0.7% on Wednesday . The company traded as high as $28.84 and last traded at $29.00. Approximately 971,647 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 1,910,000 shares. The stock had previously closed at $28.80.
A number of analysts have weighed in on ACAD shares. Jefferies Group restated a “buy” rating and issued a $47.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 12th. Zacks Investment Research cut ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. ValuEngine lowered ACADIA Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. BidaskClub raised ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, December 27th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $60.00 price objective on shares of ACADIA Pharmaceuticals in a report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. ACADIA Pharmaceuticals presently has an average rating of “Buy” and an average price target of $48.86.
The firm has a market cap of $3,590.00, a price-to-earnings ratio of -11.92 and a beta of 3.48.
In related news, Director Laura Brege sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $30.06, for a total transaction of $751,500.00. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $450,900. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Glenn Baity sold 36,558 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $32.39, for a total value of $1,184,113.62. Following the transaction, the executive vice president now directly owns 83,734 shares in the company, valued at approximately $2,712,144.26. The disclosure for this sale can be found here. In the last three months, insiders have sold 135,879 shares of company stock worth $4,175,649. Corporate insiders own 22.25% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Washington CORP purchased a new position in shares of ACADIA Pharmaceuticals during the fourth quarter worth about $1,824,000. Wealthstreet Investment Advisors LLC purchased a new position in shares of ACADIA Pharmaceuticals during the fourth quarter worth about $6,036,000. Swiss National Bank grew its holdings in shares of ACADIA Pharmaceuticals by 2.4% during the fourth quarter. Swiss National Bank now owns 166,804 shares of the biopharmaceutical company’s stock worth $5,022,000 after buying an additional 3,900 shares during the last quarter. Daiwa Securities Group Inc. purchased a new position in shares of ACADIA Pharmaceuticals during the fourth quarter worth about $2,163,000. Finally, California Public Employees Retirement System grew its holdings in shares of ACADIA Pharmaceuticals by 3.7% during the fourth quarter. California Public Employees Retirement System now owns 158,800 shares of the biopharmaceutical company’s stock worth $4,781,000 after buying an additional 5,600 shares during the last quarter. 94.12% of the stock is currently owned by hedge funds and other institutional investors.
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ACADIA Pharmaceuticals Company Profile
ACADIA Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system (CNS) disorders. Its lead drug candidate, NUPLAZID (pimavanserin), is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis (PD Psychosis).
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