ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Position Lifted by Trexquant Investment LP

Trexquant Investment LP grew its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 12.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 433,155 shares of the biopharmaceutical company's stock after buying an additional 49,166 shares during the quarter. Trexquant Investment LP owned 0.26% of ACADIA Pharmaceuticals worth $7,948,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC lifted its position in ACADIA Pharmaceuticals by 380.3% in the fourth quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company's stock valued at $45,576,000 after purchasing an additional 1,966,607 shares during the period. Barclays PLC grew its holdings in ACADIA Pharmaceuticals by 126.2% during the third quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company's stock worth $4,269,000 after acquiring an additional 154,854 shares during the period. Burney Co. purchased a new position in ACADIA Pharmaceuticals in the fourth quarter worth $6,953,000. Proficio Capital Partners LLC acquired a new stake in ACADIA Pharmaceuticals in the fourth quarter valued at $272,000. Finally, BNP Paribas Financial Markets boosted its position in shares of ACADIA Pharmaceuticals by 259.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 223,618 shares of the biopharmaceutical company's stock worth $3,439,000 after purchasing an additional 161,331 shares in the last quarter. Institutional investors and hedge funds own 96.71% of the company's stock.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, Director Elizabeth A. Garofalo sold 4,919 shares of the firm'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 transaction, the director now directly owns 17,595 shares in the company, valued at $320,756.85. This trade represents a 21.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark C. Schneyer sold 3,171 shares of ACADIA Pharmaceuticals stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $17.05, for a total value of $54,065.55. Following the completion of the transaction, the executive vice president now directly owns 56,889 shares in the company, valued at $969,957.45. This represents a 5.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,169 shares of company stock worth $242,686 in the last quarter. 28.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Guggenheim lowered shares of ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $23.00 to $20.00 in a research report on Friday, January 3rd. Morgan Stanley reaffirmed an "equal weight" rating and set a $20.00 price target on shares of ACADIA Pharmaceuticals in a research note on Friday, March 7th. Cantor Fitzgerald reissued an "overweight" rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a "hold" rating and a $22.00 target price for the company. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Tuesday. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $23.93.

ACADIA Pharmaceuticals Stock Up 6.1 %

Shares of ACAD traded up $0.86 during mid-day trading on Wednesday, hitting $14.96. The company had a trading volume of 3,496,492 shares, compared to its average volume of 1,849,508. ACADIA Pharmaceuticals Inc. has a 1-year low of $13.40 and a 1-year high of $20.68. The business's 50-day simple moving average is $17.74 and its 200-day simple moving average is $16.98. The stock has a market cap of $2.50 billion, a PE ratio of 19.18 and a beta of 0.54.

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.