Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 29.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 685,716 shares of the biopharmaceutical company's stock after selling 286,949 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.41% of ACADIA Pharmaceuticals worth $12,583,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in ACAD. R Squared Ltd bought a new position in ACADIA Pharmaceuticals in the 4th quarter worth approximately $47,000. Quest Partners LLC grew its stake in shares of ACADIA Pharmaceuticals by 42.3% in the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company's stock worth $54,000 after purchasing an additional 1,047 shares in the last quarter. KBC Group NV increased its holdings in shares of ACADIA Pharmaceuticals by 67.0% during the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company's stock valued at $93,000 after purchasing an additional 2,044 shares during the period. Personal CFO Solutions LLC bought a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter valued at about $224,000. Finally, PDT Partners LLC bought a new stake in shares of ACADIA Pharmaceuticals during the third quarter valued at about $203,000. 96.71% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
ACAD has been the topic of several research analyst reports. Guggenheim cut shares of ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and lowered their target price for the company from $23.00 to $20.00 in a research note on Friday, January 3rd. StockNews.com raised shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday, March 8th. Needham & Company LLC reissued a "buy" rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "hold" rating and a $22.00 price target on the stock. Finally, Morgan Stanley reissued an "equal weight" rating and set a $20.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Friday, March 7th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.00.
Check Out Our Latest Report on ACAD
Insider Buying and Selling
In related news, Director Elizabeth A. Garofalo sold 4,919 shares of the company's stock in a transaction on 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 in the company, valued at $320,756.85. This represents a 21.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders have sold 6,167 shares of company stock valued at $114,583 in the last 90 days. Company insiders own 28.30% of the company's stock.
ACADIA Pharmaceuticals Price Performance
Shares of ACADIA Pharmaceuticals stock traded up $0.01 on Wednesday, reaching $17.29. The company had a trading volume of 1,207,289 shares, compared to its average volume of 1,763,629. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 22.17 and a beta of 0.43. The firm's 50-day moving average price is $18.40 and its two-hundred day moving average price is $17.00. ACADIA Pharmaceuticals Inc. has a 1 year low of $14.15 and a 1 year high of $20.68.
ACADIA Pharmaceuticals Company Profile
(
Free Report)
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.
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