ACADIA Pharmaceuticals Target of Unusually High Options Trading (NASDAQ:ACAD)

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) was the recipient of unusually large options trading on Monday. Stock investors acquired 3,703 call options on the company. This represents an increase of 308% compared to the typical volume of 908 call options.

ACADIA Pharmaceuticals Stock Performance

ACADIA Pharmaceuticals stock traded down $0.29 during midday trading on Monday, hitting $17.21. 384,292 shares of the company were exchanged, compared to its average volume of 2,502,504. The firm has a market capitalization of $2.87 billion, a PE ratio of 22.12 and a beta of 0.43. ACADIA Pharmaceuticals has a fifty-two week low of $14.15 and a fifty-two week high of $20.68. The business has a fifty day simple moving average of $18.40 and a two-hundred day simple moving average of $16.99.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, Director Elizabeth A. Garofalo sold 4,919 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total transaction of $89,673.37. Following the completion of the sale, the director now directly owns 17,595 shares in the company, valued at $320,756.85. This represents a 21.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders sold 6,167 shares of company stock worth $114,583 in the last three months. 28.30% of the stock is owned by insiders.

Institutional Trading of ACADIA Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Phocas Financial Corp. grew its holdings in ACADIA Pharmaceuticals by 79.0% during the fourth quarter. Phocas Financial Corp. now owns 107,811 shares of the biopharmaceutical company’s stock worth $1,978,000 after acquiring an additional 47,596 shares during the period. Jefferies Financial Group Inc. acquired a new stake in ACADIA Pharmaceuticals in the fourth quarter valued at approximately $2,106,000. Mackenzie Financial Corp grew its holdings in ACADIA Pharmaceuticals by 180.1% in the fourth quarter. Mackenzie Financial Corp now owns 51,065 shares of the biopharmaceutical company’s stock valued at $937,000 after purchasing an additional 32,833 shares during the period. GF Fund Management CO. LTD. acquired a new stake in ACADIA Pharmaceuticals in the fourth quarter valued at approximately $64,000. Finally, CTC Alternative Strategies Ltd. acquired a new stake in ACADIA Pharmaceuticals in the fourth quarter valued at approximately $1,012,000. 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.