ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC increased its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 38.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,106 shares of the biopharmaceutical company’s stock after acquiring an additional 14,423 shares during the quarter. Intech Investment Management LLC’s holdings in ACADIA Pharmaceuticals were worth $956,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ACAD. SG Americas Securities LLC increased its holdings in shares of ACADIA Pharmaceuticals by 380.3% in the 4th quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company’s stock valued at $45,576,000 after acquiring an additional 1,966,607 shares during the period. Iron Triangle Partners LP acquired a new position in ACADIA Pharmaceuticals in the 3rd quarter valued at $11,535,000. Eventide Asset Management LLC acquired a new position in ACADIA Pharmaceuticals in the 3rd quarter valued at $8,882,000. Great Lakes Advisors LLC acquired a new position in ACADIA Pharmaceuticals in the 4th quarter valued at $9,909,000. Finally, Fred Alger Management LLC increased its stake in 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. 96.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on ACAD shares. Guggenheim cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $23.00 to $20.00 in a research note on Friday, January 3rd. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft started coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a “hold” rating and a $22.00 target price on the stock. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Eight 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 currently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Insider Activity

In other news, Director Elizabeth A. Garofalo sold 4,919 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total transaction of $89,673.37. Following the completion of the transaction, the director now owns 17,595 shares of the company’s stock, valued at $320,756.85. This represents a 21.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 6,167 shares of company stock valued at $114,583 in the last 90 days. 28.30% of the stock is currently owned by insiders.

ACADIA Pharmaceuticals Price Performance

NASDAQ ACAD opened at $16.79 on Friday. ACADIA Pharmaceuticals Inc. has a 12 month low of $14.15 and a 12 month high of $20.68. The company has a 50-day moving average of $18.37 and a 200-day moving average of $17.01. The company has a market cap of $2.80 billion, a P/E ratio of 21.53 and a beta of 0.43.

ACADIA Pharmaceuticals 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.