Invesco Ltd. Decreases Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Invesco Ltd. cut its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 8.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 512,320 shares of the biopharmaceutical company's stock after selling 45,744 shares during the period. Invesco Ltd. owned 0.31% of ACADIA Pharmaceuticals worth $9,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Barclays PLC raised its stake in shares of ACADIA Pharmaceuticals by 126.2% during the third quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company's stock valued at $4,269,000 after acquiring an additional 154,854 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of ACADIA Pharmaceuticals by 67.8% in the third quarter. Principal Financial Group Inc. now owns 129,551 shares of the biopharmaceutical company's stock valued at $1,992,000 after acquiring an additional 52,340 shares in the last quarter. Nordea Investment Management AB lifted its stake in ACADIA Pharmaceuticals by 1.3% in the fourth quarter. Nordea Investment Management AB now owns 264,031 shares of the biopharmaceutical company's stock worth $4,952,000 after acquiring an additional 3,516 shares during the period. Diversified Trust Co grew its holdings in ACADIA Pharmaceuticals by 9.8% during the 4th quarter. Diversified Trust Co now owns 35,774 shares of the biopharmaceutical company's stock worth $656,000 after acquiring an additional 3,187 shares in the last quarter. Finally, Burney Co. purchased a new position in ACADIA Pharmaceuticals during the 4th quarter valued at about $6,953,000. 96.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ACAD shares. Morgan Stanley reiterated an "equal weight" rating and set a $20.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Friday, March 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and issued 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 research report on Tuesday, February 11th. They set a "hold" rating and a $22.00 price objective on the stock. Finally, Guggenheim downgraded shares of 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 report on Friday, January 3rd. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $23.93.

Insider Buying and Selling

In related news, Director Elizabeth A. Garofalo sold 4,919 shares of the firm's stock in a transaction 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 sale, the director now owns 17,595 shares in the company, valued at approximately $320,756.85. This trade represents a 21.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark C. Schneyer sold 2,708 shares of ACADIA Pharmaceuticals 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 of the company's stock, valued at $881,137.92. The trade was a 4.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,169 shares of company stock valued at $242,686 over the last 90 days. Insiders own 28.30% of the company's stock.

ACADIA Pharmaceuticals Price Performance

NASDAQ:ACAD traded down $0.10 during midday trading on Friday, hitting $14.73. The company's stock had a trading volume of 957,583 shares, compared to its average volume of 1,851,022. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $13.40 and a fifty-two week high of $20.68. The firm has a market cap of $2.46 billion, a P/E ratio of 18.88 and a beta of 0.54. The firm's 50 day moving average is $16.64 and its 200-day moving average is $16.93.

About ACADIA Pharmaceuticals

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.