ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Sold by LPL Financial LLC

LPL Financial LLC cut its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 64.1% 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 26,370 shares of the biopharmaceutical company's stock after selling 47,043 shares during the period. LPL Financial LLC's holdings in ACADIA Pharmaceuticals were worth $484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its position in shares of ACADIA Pharmaceuticals by 380.3% during the fourth quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company's stock worth $45,576,000 after acquiring an additional 1,966,607 shares during the period. Barclays PLC raised its position 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 purchasing an additional 154,854 shares in the last quarter. Burney Co. purchased a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter worth $6,953,000. Proficio Capital Partners LLC bought a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth $272,000. Finally, Principal Financial Group Inc. increased its stake in shares of ACADIA Pharmaceuticals by 67.8% during the third quarter. Principal Financial Group Inc. now owns 129,551 shares of the biopharmaceutical company's stock valued at $1,992,000 after buying an additional 52,340 shares during the period. 96.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Mark C. Schneyer sold 2,708 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 59,456 shares in the company, valued at approximately $881,137.92. This trade represents a 4.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Elizabeth A. Garofalo sold 4,919 shares of the company'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 completion of the sale, the director now owns 17,595 shares of the company's stock, valued at approximately $320,756.85. This trade represents a 21.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,169 shares of company stock valued at $242,686 in the last three months. 28.30% of the stock is owned by corporate insiders.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ ACAD traded up $0.08 during trading on Thursday, reaching $14.68. The stock had a trading volume of 171,566 shares, compared to its average volume of 1,844,165. The company has a market cap of $2.45 billion, a P/E ratio of 18.79 and a beta of 0.54. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $13.40 and a fifty-two week high of $20.68. The business's 50-day moving average price is $16.32 and its 200-day moving average price is $16.92.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ACAD. HC Wainwright reaffirmed a "buy" rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. UBS Group decreased their target price on shares of ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating for the company in a research report on Monday. Guggenheim lowered ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and reduced their target price for the company from $23.00 to $20.00 in a research report on Friday, January 3rd. Morgan Stanley reiterated an "equal weight" rating and issued a $20.00 target price on shares of ACADIA Pharmaceuticals in a research note on Friday, March 7th. Finally, StockNews.com raised 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 nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.87.

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.