Great Lakes Advisors LLC Makes New Investment in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Great Lakes Advisors LLC acquired a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 540,013 shares of the biopharmaceutical company’s stock, valued at approximately $9,909,000.

A number of other hedge funds have also recently bought and sold shares of ACAD. R Squared Ltd purchased a new position in ACADIA Pharmaceuticals during the 4th quarter worth $47,000. Quest Partners LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 42.3% in the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after buying an additional 1,047 shares during the last quarter. KBC Group NV boosted its holdings in shares of ACADIA Pharmaceuticals by 67.0% in the 4th quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock worth $93,000 after buying an additional 2,044 shares during the last quarter. PDT Partners LLC purchased a new position in shares of ACADIA Pharmaceuticals in the 3rd quarter worth about $203,000. Finally, Personal CFO Solutions LLC purchased a new position in shares of ACADIA Pharmaceuticals in the 4th quarter worth about $224,000. 96.71% of the stock is owned by hedge funds and other institutional investors.

ACADIA Pharmaceuticals Stock Down 2.4 %

Shares of ACAD opened at $16.77 on Thursday. The business’s 50-day moving average price is $18.49 and its 200-day moving average price is $16.96. ACADIA Pharmaceuticals Inc. has a twelve month low of $14.15 and a twelve month high of $20.68. The stock has a market cap of $2.80 billion, a PE ratio of 21.50 and a beta of 0.43.

Analyst Upgrades and Downgrades

ACAD has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They issued a “hold” rating and a $22.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Morgan Stanley reissued an “equal weight” rating and issued a $20.00 price target on shares of ACADIA Pharmaceuticals in a report on Friday, March 7th. Finally, HC Wainwright reissued a “buy” rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Insider Activity

In related news, Director Elizabeth A. Garofalo sold 4,919 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total value of $89,673.37. Following the transaction, the director now directly owns 17,595 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 6,167 shares of company stock worth $114,583 over the last ninety days. Company insiders own 28.30% of the company’s stock.

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.