Proficio Capital Partners LLC Acquires New Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Proficio Capital Partners LLC purchased a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 14,827 shares of the biopharmaceutical company's stock, valued at approximately $272,000.

Several other large investors also recently bought and sold shares of ACAD. Victory Capital Management Inc. grew its stake in shares of ACADIA Pharmaceuticals by 66.9% during the fourth quarter. Victory Capital Management Inc. now owns 162,125 shares of the biopharmaceutical company's stock valued at $2,975,000 after acquiring an additional 64,995 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in ACADIA Pharmaceuticals by 68.3% in the fourth quarter. Fisher Asset Management LLC now owns 327,505 shares of the biopharmaceutical company's stock valued at $6,010,000 after purchasing an additional 132,906 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in ACADIA Pharmaceuticals by 158.6% during the 4th quarter. Los Angeles Capital Management LLC now owns 114,535 shares of the biopharmaceutical company's stock valued at $2,102,000 after purchasing an additional 70,238 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of ACADIA Pharmaceuticals by 15.1% in the 4th quarter. Handelsbanken Fonder AB now owns 54,833 shares of the biopharmaceutical company's stock valued at $1,006,000 after purchasing an additional 7,200 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of ACADIA Pharmaceuticals by 14.0% during the 4th quarter. New York State Common Retirement Fund now owns 51,374 shares of the biopharmaceutical company's stock valued at $943,000 after buying an additional 6,310 shares during the last quarter. Institutional investors and hedge funds own 96.71% of the company's stock.

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ACADIA Pharmaceuticals Stock Down 0.7 %

ACAD stock traded down $0.12 during midday trading on Friday, hitting $17.07. 872,276 shares of the company traded hands, compared to its average volume of 1,823,322. ACADIA Pharmaceuticals Inc. has a twelve month low of $14.15 and a twelve month high of $20.68. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 21.88 and a beta of 0.43. The business has a 50 day simple moving average of $18.34 and a 200-day simple moving average of $17.04.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ACAD shares. HC Wainwright restated a "buy" rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft started coverage on ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They issued a "hold" rating and a $22.00 price target for the company. Guggenheim cut ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and cut their price objective for the company from $23.00 to $20.00 in a research note on Friday, January 3rd. Needham & Company LLC reiterated a "buy" rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Finally, Morgan Stanley reiterated an "equal weight" rating and issued a $20.00 price target on shares of ACADIA Pharmaceuticals in a report on Friday, March 7th. 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 company currently has an average rating of "Moderate Buy" and a consensus target price of $23.93.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, Director Elizabeth A. Garofalo sold 4,919 shares of the stock in a transaction that occurred 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 directly owns 17,595 shares of the company's stock, valued at approximately $320,756.85. This represents a 21.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark C. Schneyer sold 3,171 shares of the company's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $17.05, for a total transaction of $54,065.55. Following the transaction, the executive vice president now owns 56,889 shares of the company's stock, valued at approximately $969,957.45. The trade was a 5.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,433 shares of company stock worth $187,319 over the last ninety days. Company insiders own 28.30% of the company's stock.

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.