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

by · The Markets Daily

ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Get Free Report) was the target of unusually large options trading activity on Monday. Stock investors purchased 6,078 put options on the stock. This represents an increase of approximately 323% compared to the typical daily volume of 1,436 put options.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Bank of America reissued a “buy” rating and set a $14.50 price target on shares of ACADIA Pharmaceuticals in a research note on Wednesday, July 29th. HC Wainwright dropped their price objective on shares of ACADIA Pharmaceuticals from $37.00 to $33.00 and set a “buy” rating for the company in a research report on Friday. Morgan Stanley upped their price objective on ACADIA Pharmaceuticals from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 25th. Needham & Company LLC decreased their price objective on ACADIA Pharmaceuticals from $41.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Citizens Jmp lowered their target price on ACADIA Pharmaceuticals from $36.00 to $33.00 and set a “market outperform” rating for the company in a research note on Friday. Fourteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.76.

Get Our Latest Analysis on ACADIA Pharmaceuticals

Insider Activity

In other ACADIA Pharmaceuticals news, EVP Mark Schneyer sold 14,292 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $29.22, for a total transaction of $417,612.24. Following the sale, the executive vice president owned 67,828 shares of the company’s stock, valued at $1,981,934.16. This represents a 17.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Elizabeth Thompson sold 16,558 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $26.13, for a total transaction of $432,660.54. Following the completion of the sale, the executive vice president owned 18,994 shares of the company’s stock, valued at $496,313.22. The trade was a 46.57% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 36,699 shares of company stock worth $1,019,894. 26.20% of the stock is owned by corporate insiders.

Institutional Trading of ACADIA Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its position in ACADIA Pharmaceuticals by 15.6% in the 2nd quarter. GAMMA Investing LLC now owns 2,985 shares of the biopharmaceutical company’s stock valued at $76,000 after acquiring an additional 402 shares in the last quarter. Swiss National Bank increased its holdings in ACADIA Pharmaceuticals by 0.6% during the 1st quarter. Swiss National Bank now owns 234,404 shares of the biopharmaceutical company’s stock worth $5,218,000 after purchasing an additional 1,500 shares in the last quarter. Nykredit A S bought a new position in ACADIA Pharmaceuticals during the 2nd quarter worth about $38,000. Integrated Wealth Concepts LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the 2nd quarter valued at about $50,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the 2nd quarter valued at about $64,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Stock Performance

ACADIA Pharmaceuticals stock traded down $0.40 during trading hours on Monday, reaching $20.28. 990,895 shares of the company’s stock traded hands, compared to its average volume of 1,693,029. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 9.12 and a beta of 0.86. ACADIA Pharmaceuticals has a fifty-two week low of $19.69 and a fifty-two week high of $30.96. The firm’s 50 day moving average is $27.50 and its 200-day moving average is $24.20.

ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.07 by $0.11. The company had revenue of $308.00 million during the quarter, compared to analysts’ expectations of $296.55 million. ACADIA Pharmaceuticals had a net margin of 33.42% and a return on equity of 9.03%. ACADIA Pharmaceuticals’s revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.16 EPS. Analysts predict that ACADIA Pharmaceuticals will post 0.64 EPS for the current year.

ACADIA Pharmaceuticals Company Profile

(Get Free Report)

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on developing and commercializing medicines for neurological and psychiatric disorders. The company is headquartered in San Diego, California, and conducts research and commercial activities primarily in the United States.

ACADIA’s marketed products include NUPLAZID (pimavanserin), an atypical antipsychotic approved for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis. The company also markets DAYBUE (trofinetide), a therapy for Rett syndrome, a rare neurodevelopmental disorder.

Founded in 1993, ACADIA continues to advance a pipeline of therapies for central nervous system conditions, including additional neurological and psychiatric disorders.

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