Rockefeller Capital Management L.P. Grows Stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Rockefeller Capital Management L.P. raised its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,163,455 shares of the biopharmaceutical company's stock after purchasing an additional 23,521 shares during the period. Rockefeller Capital Management L.P. owned about 0.70% of ACADIA Pharmaceuticals worth $21,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. F M Investments LLC purchased a new position in ACADIA Pharmaceuticals in the fourth quarter worth approximately $1,187,000. Raymond James Financial Inc. purchased a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter worth $664,000. Renaissance Technologies LLC lifted its position in shares of ACADIA Pharmaceuticals by 204.2% during the 4th quarter. Renaissance Technologies LLC now owns 1,226,533 shares of the biopharmaceutical company's stock worth $22,507,000 after purchasing an additional 823,333 shares during the last quarter. Bank of Montreal Can purchased a new position in ACADIA Pharmaceuticals in the fourth quarter valued at $211,000. Finally, Cerity Partners LLC raised its stake in ACADIA Pharmaceuticals by 43.2% in the fourth quarter. Cerity Partners LLC now owns 20,459 shares of the biopharmaceutical company's stock valued at $349,000 after buying an additional 6,173 shares in the last quarter. 96.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ACAD shares. HC Wainwright reaffirmed a "buy" rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Guggenheim downgraded shares of ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $23.00 to $20.00 in a research report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft began coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They set a "hold" rating and a $22.00 price target on the stock. Finally, StockNews.com upgraded shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $23.93.

Insider Transactions at ACADIA Pharmaceuticals

In other news, Director Elizabeth A. Garofalo sold 4,919 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director now directly owns 17,595 shares of the company's stock, valued at $320,756.85. This trade represents a 21.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark C. Schneyer sold 2,708 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $14.82, for a total value of $40,132.56. Following the completion of the sale, the executive vice president now owns 59,456 shares in the company, valued at approximately $881,137.92. This trade represents a 4.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,169 shares of company stock worth $242,686. Company insiders own 28.30% of the company's stock.

ACADIA Pharmaceuticals Trading Up 1.1 %

Shares of ACADIA Pharmaceuticals stock traded up $0.16 during trading hours on Friday, hitting $14.73. 1,208,871 shares of the company were exchanged, compared to its average volume of 1,851,308. The business has a 50-day moving average of $17.16 and a 200-day moving average of $16.95. ACADIA Pharmaceuticals Inc. has a 1 year low of $13.40 and a 1 year high of $20.68. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 18.88 and a beta of 0.54.

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.