ACADIA Pharmaceuticals (NASDAQ:ACAD) Coverage Initiated by Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft assumed coverage on shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) in a research note released on Tuesday, Marketbeat.com reports. The firm issued a hold rating and a $22.00 price objective on the biopharmaceutical company’s stock.

Several other research analysts have also recently commented on the company. StockNews.com cut ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Guggenheim lowered shares of 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. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

ACADIA Pharmaceuticals Stock Performance

ACAD stock opened at $18.49 on Tuesday. The firm has a 50 day simple moving average of $17.85 and a 200 day simple moving average of $16.64. ACADIA Pharmaceuticals has a 52 week low of $14.15 and a 52 week high of $26.78. The stock has a market cap of $3.08 billion, a P/E ratio of 23.71 and a beta of 0.37.

Insider Buying and Selling

In related news, insider James Kihara sold 4,073 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $68,467.13. Following the completion of the sale, the insider now directly owns 19,863 shares of the company’s stock, valued at approximately $333,897.03. This represents a 17.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Brendan Teehan sold 10,329 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $173,630.49. Following the completion of the sale, the chief operating officer now owns 62,105 shares of the company’s stock, valued at approximately $1,043,985.05. This represents a 14.26 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,661 shares of company stock valued at $414,551. 28.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On ACADIA Pharmaceuticals

Several institutional investors have recently bought and sold shares of the company. Values First Advisors Inc. bought a new stake in ACADIA Pharmaceuticals during the 3rd quarter worth approximately $27,000. R Squared Ltd purchased a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter worth $47,000. Quest Partners LLC boosted its stake in ACADIA Pharmaceuticals by 42.3% during the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock valued at $54,000 after buying an additional 1,047 shares during the period. KBC Group NV grew its position in ACADIA Pharmaceuticals by 67.0% during the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock worth $93,000 after buying an additional 2,044 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in ACADIA Pharmaceuticals by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock worth $94,000 after acquiring an additional 1,066 shares during the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

About ACADIA Pharmaceuticals

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.