ACADIA Pharmaceuticals (NASDAQ:ACAD) EVP Jennifer Rhodes Sells 6,950 Shares

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) EVP Jennifer Rhodes sold 6,950 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $23.38, for a total transaction of $162,491.00. Following the completion of the transaction, the executive vice president owned 7,609 shares of the company’s stock, valued at $177,898.42. This trade represents a 47.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

ACADIA Pharmaceuticals Stock Down 2.2%

ACAD stock traded down $0.52 during midday trading on Tuesday, reaching $22.70. 1,109,092 shares of the company’s stock traded hands, compared to its average volume of 1,288,957. The company has a 50-day simple moving average of $26.38 and a two-hundred day simple moving average of $24.48. ACADIA Pharmaceuticals Inc. has a 1-year low of $13.40 and a 1-year high of $28.35. The company has a market cap of $3.84 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 8.15 and a beta of 0.66.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ACAD. Farther Finance Advisors LLC grew its stake in shares of ACADIA Pharmaceuticals by 67.5% during the fourth quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 386 shares during the period. Geneos Wealth Management Inc. boosted its holdings in ACADIA Pharmaceuticals by 113.0% during the third quarter. Geneos Wealth Management Inc. now owns 1,425 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 756 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of ACADIA Pharmaceuticals by 107.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 885 shares during the period. USA Financial Formulas bought a new stake in shares of ACADIA Pharmaceuticals in the 3rd quarter valued at about $41,000. Finally, Leonteq Securities AG acquired a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at approximately $52,000. 96.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ACAD shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of ACADIA Pharmaceuticals in a research report on Monday, December 29th. Citizens Jmp restated a “market outperform” rating and issued a $34.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 3rd. Stifel Nicolaus set a $37.00 price objective on ACADIA Pharmaceuticals in a research report on Tuesday, December 16th. Royal Bank Of Canada lowered their target price on ACADIA Pharmaceuticals from $35.00 to $31.00 and set an “outperform” rating for the company in a research note on Tuesday, February 3rd. Finally, Citigroup upped their price target on ACADIA Pharmaceuticals from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $31.30.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.