Y Intercept Hong Kong Ltd Sells 17,639 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Y Intercept Hong Kong Ltd cut its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 34.9% in the fourth quarter, HoldingsChannel reports. The fund owned 32,905 shares of the biopharmaceutical company’s stock after selling 17,639 shares during the period. Y Intercept Hong Kong Ltd’s holdings in ACADIA Pharmaceuticals were worth $604,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. State Street Corp raised its stake in shares of ACADIA Pharmaceuticals by 3.0% in the third quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company’s stock worth $91,878,000 after acquiring an additional 173,084 shares during the last quarter. Fred Alger Management LLC raised its stake in shares of ACADIA Pharmaceuticals by 17.8% in the third quarter. Fred Alger Management LLC now owns 3,186,389 shares of the biopharmaceutical company’s stock worth $49,007,000 after acquiring an additional 481,950 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of ACADIA Pharmaceuticals by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,875,540 shares of the biopharmaceutical company’s stock worth $44,234,000 after acquiring an additional 30,826 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of ACADIA Pharmaceuticals by 380.3% in the fourth quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company’s stock worth $45,576,000 after acquiring an additional 1,966,607 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in shares of ACADIA Pharmaceuticals by 19.5% in the third quarter. Rockefeller Capital Management L.P. now owns 1,139,934 shares of the biopharmaceutical company’s stock worth $17,532,000 after acquiring an additional 185,684 shares during the last quarter. 96.71% of the stock is owned by institutional investors.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ ACAD opened at $19.60 on Friday. ACADIA Pharmaceuticals Inc. has a 52-week low of $14.15 and a 52-week high of $24.53. The firm has a 50 day moving average price of $18.42 and a 200 day moving average price of $16.85. The stock has a market cap of $3.26 billion, a P/E ratio of 25.13 and a beta of 0.37.

Analyst Ratings Changes

A number of equities analysts have weighed in on ACAD shares. Deutsche Bank Aktiengesellschaft initiated coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They issued a “hold” rating and a $22.00 target price for the company. HC Wainwright reiterated a “buy” rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday. Guggenheim cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $23.00 to $20.00 in a research report on Friday, January 3rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, ACADIA Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

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.