Investors Purchase High Volume of Call Options on ACADIA Pharmaceuticals (NASDAQ:ACAD)

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) was the recipient of some unusual options trading on Monday. Stock traders purchased 3,703 call options on the company. This represents an increase of 308% compared to the average daily volume of 908 call options.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ACAD. StockNews.com upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Guggenheim cut ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their price target for the company from $23.00 to $20.00 in a research note on Friday, January 3rd. HC Wainwright restated a “buy” rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Morgan Stanley restated an “equal weight” rating and issued a $20.00 price target on shares of ACADIA Pharmaceuticals in a research note on Friday, March 7th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Insider Activity at ACADIA Pharmaceuticals

In related news, Director Elizabeth A. Garofalo sold 4,919 shares of ACADIA Pharmaceuticals stock in a transaction on Wednesday, March 5th. The stock was 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 trade represents a 21.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders sold 6,167 shares of company stock worth $114,583. Company insiders own 28.30% of the company’s stock.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Virtus Fund Advisers LLC purchased a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at approximately $39,000. R Squared Ltd purchased a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at approximately $47,000. Quest Partners LLC boosted its holdings in ACADIA Pharmaceuticals by 42.3% in the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 1,047 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at approximately $64,000. Finally, KBC Group NV boosted its holdings in ACADIA Pharmaceuticals by 67.0% in the 4th quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock valued at $93,000 after purchasing an additional 2,044 shares in the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Stock Down 1.7 %

Shares of ACAD stock opened at $17.20 on Tuesday. The stock has a market capitalization of $2.87 billion, a PE ratio of 22.05 and a beta of 0.43. ACADIA Pharmaceuticals has a 52-week low of $14.15 and a 52-week high of $20.68. The stock’s 50-day moving average price is $18.40 and its 200 day moving average price is $16.99.

ACADIA Pharmaceuticals Company Profile

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.