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

Emerald Advisers LLC lowered its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 825,069 shares of the biopharmaceutical company’s stock after selling 5,760 shares during the period. Emerald Advisers LLC’s holdings in ACADIA Pharmaceuticals were worth $15,140,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC increased its holdings 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 valued at $45,576,000 after purchasing an additional 1,966,607 shares during the period. Barclays PLC increased its holdings in shares of ACADIA Pharmaceuticals by 126.2% in the third quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company’s stock valued at $4,269,000 after purchasing an additional 154,854 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of ACADIA Pharmaceuticals in the third quarter valued at approximately $483,000. Burney Co. acquired a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $6,953,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $272,000. Institutional investors and hedge funds own 96.71% of the company’s stock.

Insider Activity

In other news, Director Elizabeth A. Garofalo sold 4,919 shares of the company’s 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 6,167 shares of company stock worth $114,583 over the last three months. 28.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ACAD shares. StockNews.com raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Guggenheim lowered ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $23.00 to $20.00 in a report on Friday, January 3rd. Morgan Stanley reaffirmed an “equal weight” rating and set a $20.00 price objective on shares of ACADIA Pharmaceuticals in a report on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft started coverage on ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They set a “hold” rating and a $22.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, ACADIA Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $24.00.

ACADIA Pharmaceuticals Stock Down 2.3 %

Shares of NASDAQ:ACAD opened at $16.79 on Friday. ACADIA Pharmaceuticals Inc. has a 52-week low of $14.15 and a 52-week high of $20.68. The stock’s fifty day simple moving average is $18.37 and its 200-day simple moving average is $17.01. The company has a market capitalization of $2.80 billion, a P/E ratio of 21.53 and a beta of 0.43.

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.