Great Lakes Advisors LLC Purchases Shares of 540,013 ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Great Lakes Advisors LLC bought a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 540,013 shares of the biopharmaceutical company's stock, valued at approximately $9,909,000. Great Lakes Advisors LLC owned 0.32% of ACADIA Pharmaceuticals at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ACAD. R Squared Ltd bought a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter valued at $47,000. Quest Partners LLC raised its stake in shares of ACADIA Pharmaceuticals by 42.3% during the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company's stock valued at $54,000 after purchasing an additional 1,047 shares during the period. KBC Group NV raised its stake in shares of ACADIA Pharmaceuticals by 67.0% during the 4th 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. PDT Partners LLC bought a new stake in shares of ACADIA Pharmaceuticals during the 3rd quarter valued at $203,000. Finally, Personal CFO Solutions LLC bought a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter valued at $224,000. 96.71% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Elizabeth A. Garofalo sold 4,919 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $320,756.85. The trade was a 21.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders sold 6,167 shares of company stock valued at $114,583. Insiders own 28.30% of the company's stock.

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ACADIA Pharmaceuticals Trading Up 4.3 %

Shares of ACAD traded up $0.72 during midday trading on Friday, reaching $17.50. The stock had a trading volume of 1,951,221 shares, compared to its average volume of 2,547,072. The company's 50-day moving average is $18.40 and its 200 day moving average is $16.98. ACADIA Pharmaceuticals Inc. has a 12-month low of $14.15 and a 12-month high of $20.68. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 22.44 and a beta of 0.43.

Analyst Ratings Changes

A number of research firms recently issued reports on ACAD. Cantor Fitzgerald reiterated an "overweight" rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. HC Wainwright reiterated a "buy" rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. StockNews.com upgraded ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday, March 8th. Morgan Stanley restated an "equal weight" rating and set a $20.00 target price on shares of ACADIA Pharmaceuticals in a research report on Friday, March 7th. Finally, Guggenheim cut ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $23.00 to $20.00 in a research report on Friday, January 3rd. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $24.00.

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.