ACADIA Pharmaceuticals Sees Unusually Large Options Volume (NASDAQ:ACAD)

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) saw some unusual options trading on Monday. Stock traders purchased 3,703 call options on the stock. This is an increase of approximately 308% compared to the typical volume of 908 call options.

Analyst Ratings Changes

Several research analysts have commented on ACAD shares. HC Wainwright reiterated a “buy” rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They set a “hold” rating and a $22.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Finally, StockNews.com upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Insider Activity

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 4,919 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total value of $89,673.37. Following the completion of the transaction, the director now directly owns 17,595 shares in the company, valued at approximately $320,756.85. This represents a 21.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 6,167 shares of company stock valued at $114,583 over the last quarter. 28.30% of the stock is owned by company insiders.

Institutional Trading of ACADIA Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Phocas Financial Corp. boosted its position in shares of ACADIA Pharmaceuticals by 79.0% during the fourth quarter. Phocas Financial Corp. now owns 107,811 shares of the biopharmaceutical company’s stock valued at $1,978,000 after buying an additional 47,596 shares during the last quarter. Jefferies Financial Group Inc. purchased a new position in ACADIA Pharmaceuticals during the 4th quarter worth $2,106,000. Mackenzie Financial Corp grew its stake in shares of ACADIA Pharmaceuticals by 180.1% in the 4th quarter. Mackenzie Financial Corp now owns 51,065 shares of the biopharmaceutical company’s stock worth $937,000 after acquiring an additional 32,833 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at about $64,000. Finally, CTC Alternative Strategies Ltd. bought a new position in shares of ACADIA Pharmaceuticals during the fourth quarter valued at about $1,012,000. 96.71% of the stock is owned by hedge funds and other institutional investors.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ ACAD opened at $17.28 on Wednesday. ACADIA Pharmaceuticals has a 1 year low of $14.15 and a 1 year high of $20.68. The stock has a market capitalization of $2.88 billion, a P/E ratio of 22.15 and a beta of 0.43. The company has a 50-day moving average price of $18.40 and a 200-day moving average price of $17.00.

About ACADIA Pharmaceuticals

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.