Edgestream Partners L.P. trimmed its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Free Report) by 39.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 191,328 shares of the biopharmaceutical company’s stock after selling 124,911 shares during the quarter. Edgestream Partners L.P. owned approximately 0.11% of ACADIA Pharmaceuticals worth $4,259,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in ACAD. Farther Finance Advisors LLC raised its holdings in shares of ACADIA Pharmaceuticals by 67.5% during the fourth quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 386 shares during the period. Cetera Investment Advisers boosted its stake in ACADIA Pharmaceuticals by 2.7% in the 4th quarter. Cetera Investment Advisers now owns 16,355 shares of the biopharmaceutical company’s stock worth $437,000 after purchasing an additional 436 shares during the period. J.W. Cole Advisors Inc. boosted its stake in ACADIA Pharmaceuticals by 2.5% in the 4th quarter. J.W. Cole Advisors Inc. now owns 20,632 shares of the biopharmaceutical company’s stock worth $551,000 after purchasing an additional 501 shares during the period. Oregon Public Employees Retirement Fund grew its position in ACADIA Pharmaceuticals by 2.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 28,666 shares of the biopharmaceutical company’s stock worth $766,000 after purchasing an additional 566 shares in the last quarter. Finally, Vise Technologies Inc. grew its position in ACADIA Pharmaceuticals by 4.0% during the 3rd quarter. Vise Technologies Inc. now owns 15,367 shares of the biopharmaceutical company’s stock worth $328,000 after purchasing an additional 585 shares in the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.
ACADIA Pharmaceuticals Stock Performance
ACADIA Pharmaceuticals stock opened at $25.87 on Friday. The firm has a market cap of $4.43 billion, a PE ratio of 11.76, a P/E/G ratio of 18.41 and a beta of 0.80. The firm’s 50 day moving average price is $23.74 and its two-hundred day moving average price is $23.23. ACADIA Pharmaceuticals Inc. has a twelve month low of $19.69 and a twelve month high of $28.35.
Insider Activity
In related news, insider James Kihara sold 5,401 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $21.18, for a total transaction of $114,393.18. Following the completion of the sale, the insider directly owned 24,509 shares in the company, valued at approximately $519,100.62. This trade represents a 18.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark C. Schneyer sold 3,506 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, May 4th. The shares were sold at an average price of $21.79, for a total value of $76,395.74. Following the sale, the executive vice president directly owned 66,145 shares of the company’s stock, valued at approximately $1,441,299.55. The trade was a 5.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 26,797 shares of company stock worth $652,474 in the last ninety days. Corporate insiders own 26.20% of the company’s stock.
Analysts Set New Price Targets
Several analysts have issued reports on the stock. Stifel Nicolaus boosted their target price on shares of ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the company a “hold” rating in a research note on Tuesday, July 21st. Canaccord Genuity Group lifted their price target on ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the company a “buy” rating in a report on Monday, June 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of ACADIA Pharmaceuticals in a report on Wednesday. Citigroup upped their price target on ACADIA Pharmaceuticals from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Monday, June 29th. Thirteen research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.31.
Get Our Latest Analysis on ACADIA Pharmaceuticals
ACADIA Pharmaceuticals Company Profile
ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.
The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.
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