Alpine Global Management LLC Purchases Shares of 55,566 ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Alpine Global Management LLC bought a new position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 55,566 shares of the biopharmaceutical company's stock, valued at approximately $1,020,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ACAD. Hsbc Holdings PLC raised its stake in shares of ACADIA Pharmaceuticals by 6.2% during the fourth quarter. Hsbc Holdings PLC now owns 69,021 shares of the biopharmaceutical company's stock valued at $1,275,000 after acquiring an additional 4,025 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in ACADIA Pharmaceuticals by 202.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,118 shares of the biopharmaceutical company's stock worth $241,000 after buying an additional 8,778 shares during the period. MetLife Investment Management LLC increased its stake in shares of ACADIA Pharmaceuticals by 3.8% during the fourth quarter. MetLife Investment Management LLC now owns 73,048 shares of the biopharmaceutical company's stock valued at $1,340,000 after buying an additional 2,669 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of ACADIA Pharmaceuticals by 28.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,086,840 shares of the biopharmaceutical company's stock valued at $19,932,000 after acquiring an additional 243,082 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in ACADIA Pharmaceuticals by 27.0% in the fourth quarter. First Trust Advisors LP now owns 2,700,125 shares of the biopharmaceutical company's stock worth $49,547,000 after acquiring an additional 574,251 shares during the period. 96.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Elizabeth A. Garofalo sold 4,919 shares of the business's stock in a transaction that occurred 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 transaction, the director now directly owns 17,595 shares of the company's stock, valued at $320,756.85. The trade was a 21.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark C. Schneyer sold 2,708 shares of the firm's stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $14.82, for a total transaction of $40,132.56. Following the completion of the sale, the executive vice president now owns 59,456 shares in the company, valued at $881,137.92. This represents a 4.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,169 shares of company stock worth $242,686 in the last three months. Insiders own 28.30% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on ACAD. Cantor Fitzgerald restated an "overweight" rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. StockNews.com raised shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. Deutsche Bank Aktiengesellschaft initiated coverage on ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a "hold" rating and a $22.00 price objective on the stock. Guggenheim cut ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and lowered their target price for the company from $23.00 to $20.00 in a research note on Friday, January 3rd. Finally, HC Wainwright restated a "buy" rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $23.93.

ACADIA Pharmaceuticals Stock Down 0.7 %

ACADIA Pharmaceuticals stock traded down $0.10 during trading hours on Friday, hitting $14.73. The stock had a trading volume of 957,583 shares, compared to its average volume of 1,851,022. The stock's 50-day moving average price is $16.64 and its 200-day moving average price is $16.93. The stock has a market capitalization of $2.46 billion, a P/E ratio of 18.88 and a beta of 0.54. ACADIA Pharmaceuticals Inc. has a 12-month low of $13.40 and a 12-month high of $20.68.

About ACADIA Pharmaceuticals

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.