First Trust Advisors LP Raises Stock Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

First Trust Advisors LP boosted its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 27.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,700,125 shares of the biopharmaceutical company's stock after purchasing an additional 574,251 shares during the quarter. First Trust Advisors LP owned approximately 1.62% of ACADIA Pharmaceuticals worth $49,547,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. R Squared Ltd acquired a new position in ACADIA Pharmaceuticals during the 4th quarter valued at about $47,000. KBC Group NV grew its stake 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 worth $93,000 after acquiring an additional 2,044 shares during the last quarter. Globeflex Capital L P acquired a new position in shares of ACADIA Pharmaceuticals during the fourth quarter valued at about $168,000. Xponance Inc. purchased a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at approximately $186,000. Finally, Vinva Investment Management Ltd acquired a new stake in ACADIA Pharmaceuticals in the 4th quarter worth approximately $187,000. 96.71% of the stock is owned by hedge funds and other institutional investors.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ:ACAD traded down $0.10 during trading hours on Friday, reaching $14.73. The stock had a trading volume of 957,583 shares, compared to its average volume of 1,851,022. ACADIA Pharmaceuticals Inc. has a 1 year low of $13.40 and a 1 year high of $20.68. The firm's 50 day moving average is $16.64 and its 200-day moving average is $16.93. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 18.88 and a beta of 0.54.

Insider Buying and Selling

In other news, Director Elizabeth A. Garofalo sold 4,919 shares of the business'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 transaction of $89,673.37. Following the completion of the sale, the director now owns 17,595 shares in the company, valued at approximately $320,756.85. The trade was a 21.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark C. Schneyer sold 2,708 shares of the stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $14.82, for a total transaction of $40,132.56. Following the completion of the transaction, the executive vice president now directly owns 59,456 shares in the company, valued at $881,137.92. This trade represents a 4.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,169 shares of company stock worth $242,686. Corporate insiders own 28.30% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on ACAD shares. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. Cantor Fitzgerald reissued an "overweight" rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft began coverage on ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They issued a "hold" rating and a $22.00 price objective on the stock. Finally, HC Wainwright restated a "buy" rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Eight investment 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, ACADIA Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus target price of $23.93.

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.