ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 66.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 162,125 shares of the biopharmaceutical company’s stock after purchasing an additional 64,995 shares during the period. Victory Capital Management Inc. owned 0.10% of ACADIA Pharmaceuticals worth $2,975,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ACAD. R Squared Ltd acquired a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth approximately $47,000. Quest Partners LLC boosted its holdings 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 worth $54,000 after purchasing an additional 1,047 shares during the last quarter. KBC Group NV boosted its holdings 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 worth $93,000 after purchasing an additional 2,044 shares during the last quarter. PDT Partners LLC acquired a new position in shares of ACADIA Pharmaceuticals during the 3rd quarter worth approximately $203,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in shares of ACADIA Pharmaceuticals during the 3rd quarter valued at approximately $255,000. 96.71% of the stock is currently owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Trading Up 4.3 %

ACADIA Pharmaceuticals stock opened at $17.50 on Monday. ACADIA Pharmaceuticals Inc. has a twelve month low of $14.15 and a twelve month high of $20.68. The stock’s fifty day simple moving average is $18.40 and its 200-day simple moving average is $16.99. The firm has a market capitalization of $2.92 billion, a P/E ratio of 22.44 and a beta of 0.43.

Wall Street Analyst Weigh In

ACAD has been the topic of several analyst reports. Morgan Stanley reaffirmed an “equal weight” rating and set a $20.00 price target on shares of ACADIA Pharmaceuticals in a research report on Friday, March 7th. Guggenheim lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their price target for the company from $23.00 to $20.00 in a research report on Friday, January 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a “hold” rating and a $22.00 price target on the stock. Finally, StockNews.com raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. 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 an average rating of “Moderate Buy” and an average target price of $24.00.

Insider Transactions at ACADIA Pharmaceuticals

In other news, Director Elizabeth A. Garofalo sold 4,919 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was 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 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 the SEC website. Over the last 90 days, insiders have sold 6,167 shares of company stock valued at $114,583. 28.30% of the stock is currently owned by company insiders.

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.