ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) was the target of some unusual options trading activity on Thursday. Stock traders acquired 4,716 put options on the company. This represents an increase of 1,603% compared to the average daily volume of 277 put options.

In other news, Director Laura Brege sold 25,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $30.06, for a total transaction of $751,500.00. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $450,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Glenn Baity sold 74,321 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $30.14, for a total transaction of $2,240,034.94. The disclosure for this sale can be found here. 22.25% of the stock is currently owned by insiders.

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Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in ACADIA Pharmaceuticals by 2.9% in the second quarter. BlackRock Inc. now owns 5,590,706 shares of the biopharmaceutical company’s stock worth $155,925,000 after purchasing an additional 157,497 shares during the period. Legato Capital Management LLC grew its holdings in ACADIA Pharmaceuticals by 321.9% in the third quarter. Legato Capital Management LLC now owns 33,748 shares of the biopharmaceutical company’s stock worth $1,271,000 after purchasing an additional 25,748 shares during the period. Nationwide Fund Advisors grew its holdings in ACADIA Pharmaceuticals by 118.3% in the second quarter. Nationwide Fund Advisors now owns 26,940 shares of the biopharmaceutical company’s stock worth $751,000 after purchasing an additional 14,600 shares during the period. JPMorgan Chase & Co. grew its holdings in ACADIA Pharmaceuticals by 5.4% in the second quarter. JPMorgan Chase & Co. now owns 1,883,166 shares of the biopharmaceutical company’s stock worth $52,521,000 after purchasing an additional 96,742 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its holdings in ACADIA Pharmaceuticals by 8.6% in the third quarter. Schwab Charles Investment Management Inc. now owns 422,605 shares of the biopharmaceutical company’s stock worth $15,920,000 after purchasing an additional 33,478 shares during the period. Institutional investors and hedge funds own 94.09% of the company’s stock.

Shares of ACADIA Pharmaceuticals (NASDAQ:ACAD) traded down $0.39 during midday trading on Monday, hitting $31.74. 1,848,871 shares of the company traded hands, compared to its average volume of 1,890,000. ACADIA Pharmaceuticals has a one year low of $25.06 and a one year high of $41.20. The stock has a market capitalization of $3,880.00, a PE ratio of -12.90 and a beta of 3.79.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.53) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.63) by $0.10. The business had revenue of $35.58 million for the quarter, compared to analysts’ expectations of $32.03 million. ACADIA Pharmaceuticals had a negative net margin of 320.71% and a negative return on equity of 67.68%. The business’s revenue was up 571.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.61) earnings per share. equities research analysts anticipate that ACADIA Pharmaceuticals will post -2.41 EPS for the current fiscal year.

A number of research firms have recently issued reports on ACAD. Piper Jaffray Companies reaffirmed a “buy” rating and set a $61.00 price objective (up from $54.00) on shares of ACADIA Pharmaceuticals in a report on Thursday, October 5th. Bank of America lifted their price objective on shares of ACADIA Pharmaceuticals from $40.00 to $46.00 and gave the stock a “positive” rating in a report on Thursday, October 5th. JMP Securities lifted their price objective on shares of ACADIA Pharmaceuticals from $47.00 to $50.00 and gave the stock an “outperform” rating in a report on Thursday, October 5th. HC Wainwright reaffirmed a “buy” rating and set a $60.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, October 5th. Finally, Leerink Swann reaffirmed a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Monday, October 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $48.86.

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About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system (CNS) disorders. Its lead drug candidate, NUPLAZID (pimavanserin), is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis (PD Psychosis).

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