ACADIA Pharmaceuticals (ACAD) Trading Up 3.5%
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) was up 3.5% on Thursday . The stock traded as high as $20.13 and last traded at $20.44. Approximately 76,329 shares changed hands during trading, a decline of 96% from the average daily volume of 1,911,913 shares. The stock had previously closed at $19.74.
A number of analysts have weighed in on ACAD shares. Cantor Fitzgerald set a $25.00 price target on ACADIA Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, September 20th. Piper Jaffray Companies raised shares of ACADIA Pharmaceuticals from a “neutral” rating to an “overweight” rating and set a $25.00 target price on the stock in a research report on Thursday, September 20th. ValuEngine upgraded shares of ACADIA Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 22nd. BidaskClub upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, September 25th. Finally, Zacks Investment Research upgraded shares of ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating and set a $24.00 price objective for the company in a research note on Monday, October 8th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $31.00.
The firm has a market cap of $2.47 billion, a price-to-earnings ratio of -8.93 and a beta of 3.08.
In related news, Director Laura Brege sold 10,000 shares of the company’s stock in a transaction dated Wednesday, January 9th. The shares were sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the sale, the director now owns 10,000 shares of the company’s stock, valued at $200,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bros. Advisors Lp Baker acquired 11,764,705 shares of the company’s stock in a transaction that occurred on Friday, November 30th. The stock was purchased at an average cost of $17.00 per share, with a total value of $199,999,985.00. The disclosure for this purchase can be found here. Insiders own 23.28% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. NEXT Financial Group Inc purchased a new position in ACADIA Pharmaceuticals in the third quarter valued at approximately $176,000. Russell Investments Group Ltd. raised its stake in shares of ACADIA Pharmaceuticals by 96.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 8,562 shares of the biopharmaceutical company’s stock worth $178,000 after buying an additional 4,202 shares during the last quarter. Gofen & Glossberg LLC IL acquired a new position in shares of ACADIA Pharmaceuticals during the 3rd quarter worth $211,000. Verition Fund Management LLC purchased a new stake in ACADIA Pharmaceuticals during the 2nd quarter worth about $163,000. Finally, Centaurus Financial Inc. purchased a new stake in ACADIA Pharmaceuticals during the 2nd quarter worth about $169,000. 95.15% of the stock is currently owned by institutional investors and hedge funds.
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About ACADIA Pharmaceuticals (NASDAQ:ACAD)
ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.
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