Alpine Global Management LLC Buys Shares of 55,566 ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Alpine Global Management LLC acquired a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 55,566 shares of the biopharmaceutical company's stock, valued at approximately $1,020,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted 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 worth $45,576,000 after acquiring an additional 1,966,607 shares during the last quarter. Norges Bank purchased a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter valued at $25,555,000. Renaissance Technologies LLC increased its holdings 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 buying an additional 823,333 shares during the last quarter. First Trust Advisors LP raised its position in shares of ACADIA Pharmaceuticals by 27.0% in the 4th quarter. First Trust Advisors LP now owns 2,700,125 shares of the biopharmaceutical company's stock worth $49,547,000 after buying an additional 574,251 shares during the period. Finally, Great Lakes Advisors LLC purchased a new position in shares of ACADIA Pharmaceuticals in the 4th quarter worth $9,909,000. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ACAD. StockNews.com raised ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. Morgan Stanley reissued an "equal weight" rating and issued a $20.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Friday, March 7th. Needham & Company LLC restated a "buy" rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Tuesday, April 8th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Finally, HC Wainwright reissued a "buy" rating and issued a $27.00 price objective 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 assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $23.93.

Insider Transactions at ACADIA Pharmaceuticals

In related news, EVP Mark C. Schneyer sold 2,708 shares of the business's stock in a transaction dated Tuesday, April 8th. The stock was 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 directly owns 59,456 shares of the company's stock, valued at $881,137.92. The trade was a 4.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 sale, the director now owns 17,595 shares in the company, valued at $320,756.85. The trade was a 21.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,169 shares of company stock valued at $242,686. Insiders own 28.30% of the company's stock.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD stock traded down $0.10 during mid-day trading on Friday, reaching $14.73. 957,583 shares of the company were exchanged, compared to its average volume of 1,848,291. The company has a market capitalization of $2.46 billion, a P/E ratio of 18.88 and a beta of 0.54. The business's 50 day simple moving average is $16.64 and its 200 day simple moving average is $16.92. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $13.40 and a fifty-two week high of $20.68.

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.