Traders Buy Large Volume of Call Options on ACADIA Pharmaceuticals (NASDAQ:ACAD)

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on ACAD shares. Morgan Stanley restated an “equal weight” rating and issued a $20.00 target price on shares of ACADIA Pharmaceuticals in a research report on Friday, March 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft started coverage on ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “hold” rating and a $22.00 target price on the stock. Needham & Company LLC restated a “buy” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Finally, Guggenheim downgraded ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their target price for the company from $23.00 to $20.00 in a research report on Friday, January 3rd. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

ACADIA Pharmaceuticals Stock Down 1.7 %

NASDAQ:ACAD traded down $0.29 on Monday, reaching $17.21. The company’s stock had a trading volume of 384,292 shares, compared to its average volume of 2,502,504. ACADIA Pharmaceuticals has a 12-month low of $14.15 and a 12-month high of $20.68. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 22.12 and a beta of 0.43. The stock has a 50 day moving average price of $18.40 and a 200 day moving average price of $16.99.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 4,919 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 17,595 shares of the company’s stock, valued at approximately $320,756.85. This trade represents a 21.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 6,167 shares of company stock valued at $114,583. Company insiders own 28.30% of the company’s stock.

Institutional Investors Weigh In On ACADIA Pharmaceuticals

Institutional investors have recently modified their holdings of the company. SG Americas Securities LLC grew its stake in ACADIA Pharmaceuticals by 380.3% during the 4th quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company’s stock worth $45,576,000 after purchasing an additional 1,966,607 shares in the last quarter. Barclays PLC lifted its holdings in ACADIA Pharmaceuticals by 126.2% during the 3rd quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company’s stock worth $4,269,000 after buying an additional 154,854 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of ACADIA Pharmaceuticals in the 3rd quarter valued at about $483,000. Burney Co. purchased a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at about $6,953,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at about $272,000. 96.71% of the stock is owned by institutional investors and hedge funds.

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.