Phocas Financial Corp. Decreases Stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Phocas Financial Corp. lowered its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 72.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 16,379 shares of the biopharmaceutical company’s stock after selling 43,836 shares during the quarter. Phocas Financial Corp.’s holdings in ACADIA Pharmaceuticals were worth $301,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC grew its holdings in ACADIA Pharmaceuticals by 158.6% during the 4th quarter. Los Angeles Capital Management LLC now owns 114,535 shares of the biopharmaceutical company’s stock valued at $2,102,000 after buying an additional 70,238 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in ACADIA Pharmaceuticals by 15.1% during the 4th quarter. Handelsbanken Fonder AB now owns 54,833 shares of the biopharmaceutical company’s stock valued at $1,006,000 after buying an additional 7,200 shares in the last quarter. New York State Common Retirement Fund grew its holdings in ACADIA Pharmaceuticals by 14.0% during the 4th quarter. New York State Common Retirement Fund now owns 51,374 shares of the biopharmaceutical company’s stock valued at $943,000 after buying an additional 6,310 shares in the last quarter. Principal Financial Group Inc. grew its holdings in ACADIA Pharmaceuticals by 10.9% during the 4th quarter. Principal Financial Group Inc. now owns 143,694 shares of the biopharmaceutical company’s stock valued at $2,637,000 after buying an additional 14,143 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in ACADIA Pharmaceuticals by 10.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 35,281 shares of the biopharmaceutical company’s stock valued at $647,000 after buying an additional 3,378 shares in the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ACAD. Deutsche Bank Aktiengesellschaft began coverage on ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They set a “hold” rating and a $22.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and set a $27.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Guggenheim lowered ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $23.00 to $20.00 in a report on Friday, January 3rd. Finally, StockNews.com lowered ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. Eight research 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.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.00.

ACADIA Pharmaceuticals Price Performance

NASDAQ:ACAD opened at $18.96 on Thursday. The business has a 50 day moving average of $18.32 and a 200 day moving average of $16.79. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of 24.30 and a beta of 0.37. ACADIA Pharmaceuticals Inc. has a 1-year low of $14.15 and a 1-year high of $26.56.

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.