ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Get Rating)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $22.12 and last traded at $21.75, with a volume of 82942 shares. The stock had previously closed at $21.93.
Wall Street Analyst Weigh In
A number of research firms recently commented on ACAD. Citigroup raised their price target on shares of ACADIA Pharmaceuticals from $21.00 to $21.60 in a research report on Tuesday. Credit Suisse Group raised their price target on shares of ACADIA Pharmaceuticals from $93.00 to $95.00 in a research report on Friday, April 28th. JMP Securities increased their price objective on shares of ACADIA Pharmaceuticals from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday. Mizuho reiterated a “neutral” rating and set a $20.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Friday, April 14th. Finally, Cantor Fitzgerald increased their price objective on shares of ACADIA Pharmaceuticals from $28.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 14th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $25.40.
ACADIA Pharmaceuticals Stock Performance
The business’s fifty day moving average is $19.75 and its 200-day moving average is $17.88. The firm has a market cap of $3.48 billion, a P/E ratio of -15.99 and a beta of 0.54.
Insiders Place Their Bets
In other news, CEO Stephen Davis sold 7,806 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, May 1st. The shares were sold at an average price of $21.18, for a total value of $165,331.08. Following the completion of the sale, the chief executive officer now owns 108,297 shares in the company, valued at approximately $2,293,730.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Stephen Davis sold 7,806 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, May 1st. The shares were sold at an average price of $21.18, for a total value of $165,331.08. Following the completion of the sale, the chief executive officer now owns 108,297 shares of the company’s stock, valued at approximately $2,293,730.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Mark C. Schneyer sold 1,916 shares of ACADIA Pharmaceuticals stock in a transaction on Thursday, April 6th. The shares were sold at an average price of $18.16, for a total transaction of $34,794.56. Following the completion of the sale, the chief financial officer now directly owns 7,477 shares of the company’s stock, valued at approximately $135,782.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,242 shares of company stock worth $580,929. 28.40% of the stock is currently owned by insiders.
Institutional Trading of ACADIA Pharmaceuticals
Hedge funds have recently bought and sold shares of the business. Wipfli Financial Advisors LLC purchased a new position in ACADIA Pharmaceuticals during the 3rd quarter worth $33,000. IFP Advisors Inc boosted its holdings in ACADIA Pharmaceuticals by 284.6% during the 3rd quarter. IFP Advisors Inc now owns 2,027 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 1,500 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in ACADIA Pharmaceuticals by 33.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 2,198 shares of the biopharmaceutical company’s stock worth $41,000 after acquiring an additional 553 shares during the last quarter. CWM LLC boosted its holdings in ACADIA Pharmaceuticals by 7,783.3% during the 1st quarter. CWM LLC now owns 2,365 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 2,335 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in ACADIA Pharmaceuticals by 169.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 3,120 shares of the biopharmaceutical company’s stock worth $59,000 after acquiring an additional 1,960 shares during the last quarter. Institutional investors and hedge funds own 92.79% of the company’s stock.
ACADIA Pharmaceuticals Company Profile
ACADIA Pharmaceuticals, Inc is a biopharmaceutical company, which focuses on the development and commercialization of medicines to address unmet medical needs in central nervous system, or CNS, disorders. Its products include Nuplazid, which is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis.
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