Globeflex Capital L P Makes New Investment in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Globeflex Capital L P acquired a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the 4th quarter, Holdings Channel.com reports. The firm acquired 9,155 shares of the biopharmaceutical company’s stock, valued at approximately $168,000.

Several other hedge funds have also recently bought and sold shares of ACAD. Principal Financial Group Inc. lifted its position in ACADIA Pharmaceuticals by 67.8% during the third quarter. Principal Financial Group Inc. now owns 129,551 shares of the biopharmaceutical company’s stock worth $1,992,000 after acquiring an additional 52,340 shares during the last quarter. Atria Investments Inc lifted its position in ACADIA Pharmaceuticals by 10.8% during the third quarter. Atria Investments Inc now owns 24,437 shares of the biopharmaceutical company’s stock worth $376,000 after acquiring an additional 2,384 shares during the last quarter. Victory Capital Management Inc. lifted its position in ACADIA Pharmaceuticals by 2.9% during the third quarter. Victory Capital Management Inc. now owns 97,130 shares of the biopharmaceutical company’s stock worth $1,494,000 after acquiring an additional 2,708 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in ACADIA Pharmaceuticals by 26.6% during the third quarter. Oppenheimer Asset Management Inc. now owns 37,429 shares of the biopharmaceutical company’s stock worth $576,000 after acquiring an additional 7,872 shares during the last quarter. Finally, Natixis Advisors LLC lifted its position in ACADIA Pharmaceuticals by 58.6% during the third quarter. Natixis Advisors LLC now owns 40,488 shares of the biopharmaceutical company’s stock worth $623,000 after acquiring an additional 14,961 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ACAD shares. Guggenheim downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their price target for the company from $23.00 to $20.00 in a research report on Friday, January 3rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. HC Wainwright reiterated a “buy” rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “hold” rating and a $22.00 price target for the company. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Insider Transactions at ACADIA Pharmaceuticals

In related news, Director Elizabeth A. Garofalo sold 4,919 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total value of $89,673.37. Following the completion of the sale, the director now directly owns 17,595 shares in the company, valued at $320,756.85. This represents a 21.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 6,167 shares of company stock worth $114,583. Corporate insiders own 28.30% of the company’s stock.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ:ACAD opened at $17.50 on Friday. The company has a fifty day moving average of $18.40 and a 200-day moving average of $16.98. The company has a market capitalization of $2.92 billion, a PE ratio of 22.44 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.

ACADIA Pharmaceuticals Company Profile

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.