Charles Schwab Investment Management Inc. Decreases Stock Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Charles Schwab Investment Management Inc. lessened its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,251,332 shares of the biopharmaceutical company's stock after selling 19,803 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.75% of ACADIA Pharmaceuticals worth $22,962,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in 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 acquiring an additional 1,966,607 shares during the period. Barclays PLC increased its position in shares of ACADIA Pharmaceuticals by 126.2% in the third quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company's stock valued at $4,269,000 after acquiring an additional 154,854 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of ACADIA Pharmaceuticals in the third quarter valued at about $483,000. Burney Co. purchased a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at about $6,953,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at about $272,000. Hedge funds and other institutional investors own 96.71% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Morgan Stanley restated an "equal weight" rating and issued a $20.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Friday, March 7th. 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 target price on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. StockNews.com raised shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $27.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.00.

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Insider Transactions at ACADIA Pharmaceuticals

In other 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 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 6,167 shares of company stock worth $114,583. Corporate insiders own 28.30% of the company's stock.

ACADIA Pharmaceuticals Price Performance

NASDAQ:ACAD traded down $0.39 during mid-day trading on Friday, hitting $16.79. 4,036,445 shares of the company's stock were exchanged, compared to its average volume of 1,769,747. ACADIA Pharmaceuticals Inc. has a one year low of $14.15 and a one year high of $20.68. The business has a fifty day moving average price of $18.37 and a 200 day moving average price of $17.00. The company has a market cap of $2.80 billion, a PE ratio of 21.53 and a beta of 0.43.

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.