Proficio Capital Partners LLC Invests $272,000 in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Proficio Capital Partners LLC acquired a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 14,827 shares of the biopharmaceutical company’s stock, valued at approximately $272,000.

Several other institutional investors have also added to or reduced their stakes in ACAD. SG Americas Securities LLC raised its position in shares of 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 raised its holdings in ACADIA Pharmaceuticals by 126.2% during the 3rd 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 during the period. Burney Co. purchased a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth $6,953,000. BNP Paribas Financial Markets boosted its holdings in shares of ACADIA Pharmaceuticals by 259.0% in the third quarter. BNP Paribas Financial Markets now owns 223,618 shares of the biopharmaceutical company’s stock worth $3,439,000 after acquiring an additional 161,331 shares during the period. Finally, State Street Corp grew its position in shares of ACADIA Pharmaceuticals by 3.0% in the third quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company’s stock valued at $91,878,000 after purchasing an additional 173,084 shares in the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on ACAD. Deutsche Bank Aktiengesellschaft began coverage on ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They issued a “hold” rating and a $22.00 target price for the company. Morgan Stanley reaffirmed an “equal weight” rating and set a $20.00 target price on shares of ACADIA Pharmaceuticals in a report on Friday, March 7th. Guggenheim downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their price target for the company from $23.00 to $20.00 in a report on Friday, January 3rd. StockNews.com raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, March 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.93.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ ACAD opened at $17.03 on Thursday. The stock has a market capitalization of $2.84 billion, a P/E ratio of 21.83 and a beta of 0.43. ACADIA Pharmaceuticals Inc. has a one year low of $14.15 and a one year high of $20.68. The firm’s 50 day simple moving average is $18.35 and its two-hundred day simple moving average is $17.02.

Insider Activity at ACADIA Pharmaceuticals

In related news, Director Elizabeth A. Garofalo sold 4,919 shares of the firm’s stock in a transaction that occurred 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 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark C. Schneyer sold 3,171 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Wednesday, March 26th. The stock was 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 trade represents a 5.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,433 shares of company stock valued at $187,319. Insiders own 28.30% of the company’s stock.

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.