Victory Capital Management Inc. Increases Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Victory Capital Management Inc. lifted its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 66.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 162,125 shares of the biopharmaceutical company's stock after buying an additional 64,995 shares during the quarter. Victory Capital Management Inc. owned approximately 0.10% of ACADIA Pharmaceuticals worth $2,975,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ACAD. Fisher Asset Management LLC increased its holdings in ACADIA Pharmaceuticals by 68.3% in the 4th quarter. Fisher Asset Management LLC now owns 327,505 shares of the biopharmaceutical company's stock worth $6,010,000 after acquiring an additional 132,906 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at about $272,000. Los Angeles Capital Management LLC increased its stake in shares of ACADIA Pharmaceuticals by 158.6% during the fourth quarter. Los Angeles Capital Management LLC now owns 114,535 shares of the biopharmaceutical company's stock worth $2,102,000 after purchasing an additional 70,238 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of ACADIA Pharmaceuticals by 15.1% during the 4th quarter. Handelsbanken Fonder AB now owns 54,833 shares of the biopharmaceutical company's stock worth $1,006,000 after purchasing an additional 7,200 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in ACADIA Pharmaceuticals by 14.0% in the 4th quarter. New York State Common Retirement Fund now owns 51,374 shares of the biopharmaceutical company's stock valued at $943,000 after buying an additional 6,310 shares in the last quarter. Hedge funds and other institutional investors own 96.71% of the company's stock.

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Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, Director Elizabeth A. Garofalo sold 4,919 shares of the firm'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 completion of the sale, the director now directly owns 17,595 shares of the company's stock, valued at approximately $320,756.85. This trade represents a 21.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 6,167 shares of company stock worth $114,583 over the last quarter. 28.30% of the stock is currently owned by company insiders.

ACADIA Pharmaceuticals Price Performance

ACAD traded down $0.12 during trading hours on Thursday, reaching $17.17. The company's stock had a trading volume of 689,291 shares, compared to its average volume of 1,758,807. The stock has a market cap of $2.86 billion, a PE ratio of 22.15 and a beta of 0.43. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $14.15 and a fifty-two week high of $20.68. The business's 50-day moving average is $18.39 and its 200-day moving average is $17.00.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Needham & Company LLC reiterated a "buy" rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. HC Wainwright reiterated a "buy" rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Guggenheim lowered ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $23.00 to $20.00 in a report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They set a "hold" rating and a $22.00 target price on the stock. Finally, StockNews.com upgraded shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday, March 8th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $24.00.

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.