ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 7.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 467,443 shares of the biopharmaceutical company’s stock after selling 37,281 shares during the period. Pictet Asset Management Holding SA owned approximately 0.28% of ACADIA Pharmaceuticals worth $8,578,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. SG Americas Securities LLC increased its position 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 buying an additional 1,966,607 shares in the last quarter. Norges Bank acquired a new position in ACADIA Pharmaceuticals during the fourth quarter worth $25,555,000. Great Lakes Advisors LLC purchased a new position in ACADIA Pharmaceuticals during the fourth quarter valued at $9,909,000. Burney Co. acquired a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at about $6,953,000. Finally, JPMorgan Chase & Co. increased its stake in shares of ACADIA Pharmaceuticals by 61.7% during the fourth quarter. JPMorgan Chase & Co. now owns 713,360 shares of the biopharmaceutical company’s stock worth $13,090,000 after purchasing an additional 272,236 shares in the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ACAD shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note 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 research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a “hold” rating and a $22.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Finally, HC Wainwright restated a “buy” rating and issued a $27.00 price target 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 nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $23.93.

ACADIA Pharmaceuticals Stock Performance

ACADIA Pharmaceuticals stock opened at $16.62 on Thursday. The company has a market capitalization of $2.77 billion, a PE ratio of 21.31 and a beta of 0.54. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $14.15 and a fifty-two week high of $20.68. The firm has a 50 day moving average price of $18.26 and a 200 day moving average price of $17.05.

Insider Activity

In related news, EVP Mark C. Schneyer sold 3,171 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $17.05, for a total transaction of $54,065.55. Following the completion of the transaction, the executive vice president now directly owns 56,889 shares in the company, valued at $969,957.45. This trade represents a 5.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Elizabeth A. Garofalo sold 4,919 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total transaction of $89,673.37. Following the sale, the director now owns 17,595 shares in the company, valued at $320,756.85. This trade represents a 21.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,433 shares of company stock valued at $187,319. 28.30% of the stock is currently owned by corporate insiders.

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.