Fisher Asset Management LLC Has $6.01 Million Stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Fisher Asset Management LLC lifted its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 68.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 327,505 shares of the biopharmaceutical company's stock after buying an additional 132,906 shares during the period. Fisher Asset Management LLC owned approximately 0.20% of ACADIA Pharmaceuticals worth $6,010,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Proficio Capital Partners LLC acquired a new position in shares of ACADIA Pharmaceuticals during the fourth quarter worth approximately $272,000. Los Angeles Capital Management LLC boosted its position in shares of ACADIA Pharmaceuticals by 158.6% during the fourth quarter. Los Angeles Capital Management LLC now owns 114,535 shares of the biopharmaceutical company's stock worth $2,102,000 after buying an additional 70,238 shares during the period. Handelsbanken Fonder AB boosted its position in shares of ACADIA Pharmaceuticals by 15.1% during the fourth quarter. Handelsbanken Fonder AB now owns 54,833 shares of the biopharmaceutical company's stock worth $1,006,000 after buying an additional 7,200 shares during the period. New York State Common Retirement Fund boosted its position in shares of ACADIA Pharmaceuticals by 14.0% during the fourth quarter. New York State Common Retirement Fund now owns 51,374 shares of the biopharmaceutical company's stock worth $943,000 after buying an additional 6,310 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of ACADIA Pharmaceuticals by 10.9% during the fourth quarter. Principal Financial Group Inc. now owns 143,694 shares of the biopharmaceutical company's stock worth $2,637,000 after buying an additional 14,143 shares during the period. 96.71% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of equities research analysts have weighed in on ACAD shares. StockNews.com upgraded ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday. Guggenheim downgraded ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and cut their target price for the stock from $23.00 to $20.00 in a research report on Friday, January 3rd. Cantor Fitzgerald restated 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 restated a "buy" rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft started coverage on ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "hold" rating and a $22.00 target price for the company. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $24.00.

Insider Activity

In other news, Director Elizabeth A. Garofalo sold 4,919 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total value of $89,673.37. Following the completion of the sale, the director now owns 17,595 shares in the company, valued at $320,756.85. This represents a 21.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 6,167 shares of company stock worth $114,583 over the last quarter. Corporate insiders own 28.30% of the company's stock.

ACADIA Pharmaceuticals Stock Down 0.3 %

Shares of ACAD traded down $0.05 during mid-day trading on Friday, reaching $17.56. The company's stock had a trading volume of 1,371,928 shares, compared to its average volume of 2,649,621. The business has a fifty day moving average of $18.49 and a 200 day moving average of $16.91. The company has a market cap of $2.92 billion, a price-to-earnings ratio of 22.51 and a beta of 0.37. ACADIA Pharmaceuticals Inc. has a 1 year low of $14.15 and a 1 year high of $24.27.

ACADIA Pharmaceuticals Company 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.