ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Acquired by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC increased its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 158.6% in the fourth quarter, Holdings Channel reports. The firm owned 114,535 shares of the biopharmaceutical company’s stock after purchasing an additional 70,238 shares during the quarter. Los Angeles Capital Management LLC’s holdings in ACADIA Pharmaceuticals were worth $2,102,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC lifted its stake in ACADIA Pharmaceuticals by 380.3% during the fourth quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company’s stock worth $45,576,000 after purchasing an additional 1,966,607 shares during the last quarter. Iron Triangle Partners LP acquired a new stake in shares of ACADIA Pharmaceuticals during the third quarter worth $11,535,000. Eventide Asset Management LLC bought a new position in shares of ACADIA Pharmaceuticals in the 3rd quarter worth about $8,882,000. Fred Alger Management LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 17.8% in the 3rd quarter. Fred Alger Management LLC now owns 3,186,389 shares of the biopharmaceutical company’s stock valued at $49,007,000 after buying an additional 481,950 shares during the period. Finally, Burney Co. bought a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter valued at about $6,953,000. 96.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ACAD has been the subject of a number of research reports. StockNews.com downgraded ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft began coverage on ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a “hold” rating and a $22.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday. Guggenheim downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their price target for the company from $23.00 to $20.00 in a report on Friday, January 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.00.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ ACAD opened at $19.60 on Friday. ACADIA Pharmaceuticals Inc. has a 1 year low of $14.15 and a 1 year high of $24.53. The firm has a market cap of $3.26 billion, a P/E ratio of 25.13 and a beta of 0.37. The stock has a fifty day moving average price of $18.37 and a two-hundred day moving average price of $16.81.

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.