Rice Hall James & Associates LLC Decreases Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Rice Hall James & Associates LLC cut its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 681,537 shares of the biopharmaceutical company's stock after selling 35,609 shares during the period. Rice Hall James & Associates LLC owned approximately 0.41% of ACADIA Pharmaceuticals worth $12,506,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ACAD. SG Americas Securities LLC raised its position in shares of ACADIA Pharmaceuticals by 380.3% during the 4th quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company's stock worth $45,576,000 after purchasing an additional 1,966,607 shares during the last quarter. Barclays PLC raised its position in shares of ACADIA Pharmaceuticals by 126.2% during the 3rd quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company's stock worth $4,269,000 after purchasing an additional 154,854 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of ACADIA Pharmaceuticals during the 3rd quarter worth approximately $483,000. Burney Co. acquired a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth approximately $6,953,000. Finally, BNP Paribas Financial Markets raised its position in shares of ACADIA Pharmaceuticals by 259.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 223,618 shares of the biopharmaceutical company's stock worth $3,439,000 after purchasing an additional 161,331 shares during the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on ACAD. HC Wainwright restated a "buy" rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Guggenheim downgraded ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $23.00 to $20.00 in a research report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a "hold" rating and a $22.00 price objective for the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. Finally, StockNews.com cut shares of ACADIA Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Thursday, November 14th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $24.00.

ACADIA Pharmaceuticals Stock Down 1.7 %

Shares of NASDAQ ACAD traded down $0.34 during trading on Friday, hitting $19.95. 1,995,038 shares of the company traded hands, compared to its average volume of 2,911,013. ACADIA Pharmaceuticals Inc. has a 1 year low of $14.15 and a 1 year high of $26.56. The company has a 50-day moving average price of $18.20 and a 200-day moving average price of $16.73. The firm has a market capitalization of $3.32 billion, a P/E ratio of 25.58 and a beta of 0.37.

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.