Acadia Pharmaceuticals (NASDAQ:ACAD) traded up 0.1% on Thursday . The company traded as high as $22.48 and last traded at $22.37. 532,317 shares traded hands during trading, a decline of 74% from the average session volume of 2,043,137 shares. The stock had previously closed at $22.34.
A number of equities research analysts have recently weighed in on the company. BidaskClub upgraded Acadia Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, February 17th. Zacks Investment Research downgraded Acadia Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th. Finally, ValuEngine downgraded Acadia Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, March 23rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. Acadia Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $49.50.
The company has a market capitalization of $2,785.84, a P/E ratio of -9.12 and a beta of 3.43.
In related news, EVP Glenn Baity sold 36,558 shares of Acadia Pharmaceuticals stock in a transaction on Monday, January 29th. The stock was sold at an average price of $32.39, for a total transaction of $1,184,113.62. Following the completion of the sale, the executive vice president now directly owns 83,734 shares of the company’s stock, valued at $2,712,144.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel B. Soland acquired 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The shares were bought at an average cost of $23.91 per share, with a total value of $167,370.00. Following the completion of the purchase, the director now owns 2,000 shares of the company’s stock, valued at $47,820. The disclosure for this purchase can be found here. 22.25% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Earnest Partners LLC acquired a new stake in shares of Acadia Pharmaceuticals during the fourth quarter worth $133,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Acadia Pharmaceuticals during the fourth quarter worth $200,000. State of Alaska Department of Revenue acquired a new stake in shares of Acadia Pharmaceuticals during the fourth quarter worth $219,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Acadia Pharmaceuticals by 30.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,403 shares of the biopharmaceutical company’s stock worth $223,000 after purchasing an additional 1,733 shares during the period. Finally, Chicago Equity Partners LLC acquired a new stake in shares of Acadia Pharmaceuticals during the fourth quarter worth $237,000. 96.24% of the stock is owned by institutional investors and hedge funds.
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Acadia Pharmaceuticals Company Profile
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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