ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Sold by Emerald Advisers LLC

Emerald Advisers LLC cut its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 825,069 shares of the biopharmaceutical company’s stock after selling 5,760 shares during the quarter. Emerald Advisers LLC owned about 0.50% of ACADIA Pharmaceuticals worth $15,140,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ACAD. Principal Financial Group Inc. increased its position in shares of ACADIA Pharmaceuticals by 67.8% during the 3rd quarter. Principal Financial Group Inc. now owns 129,551 shares of the biopharmaceutical company’s stock worth $1,992,000 after purchasing an additional 52,340 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of ACADIA Pharmaceuticals by 2.9% during the 3rd quarter. Victory Capital Management Inc. now owns 97,130 shares of the biopharmaceutical company’s stock worth $1,494,000 after purchasing an additional 2,708 shares during the last quarter. Natixis Advisors LLC increased its position in shares of ACADIA Pharmaceuticals by 58.6% during the 3rd quarter. Natixis Advisors LLC now owns 40,488 shares of the biopharmaceutical company’s stock worth $623,000 after purchasing an additional 14,961 shares during the last quarter. Quest Partners LLC increased its position in shares of ACADIA Pharmaceuticals by 42.3% during the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 1,047 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of ACADIA Pharmaceuticals during the 3rd quarter worth about $483,000. 96.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ACAD has been the subject of a number of recent analyst reports. Guggenheim downgraded 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 research report on Friday, January 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. StockNews.com raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $20.00 target price on shares of ACADIA Pharmaceuticals in a research report on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They issued a “hold” rating and a $22.00 price objective for the company. Eight investment 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.00.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 4,919 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total transaction of $89,673.37. Following the transaction, the director now owns 17,595 shares of the company’s stock, valued at $320,756.85. The trade was a 21.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 6,167 shares of company stock valued at $114,583 over the last quarter. Company insiders own 28.30% of the company’s stock.

ACADIA Pharmaceuticals Stock Down 2.3 %

ACAD opened at $16.79 on Friday. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 21.53 and a beta of 0.43. ACADIA Pharmaceuticals Inc. has a 52 week low of $14.15 and a 52 week high of $20.68. The business’s 50 day moving average is $18.37 and its two-hundred day moving average is $17.01.

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.