First Trust Advisors LP Purchases 574,251 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

First Trust Advisors LP lifted its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 27.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,700,125 shares of the biopharmaceutical company's stock after purchasing an additional 574,251 shares during the quarter. First Trust Advisors LP owned about 1.62% of ACADIA Pharmaceuticals worth $49,547,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Barclays PLC lifted its holdings in ACADIA Pharmaceuticals by 126.2% in the third quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company's stock worth $4,269,000 after purchasing an additional 154,854 shares during the period. Principal Financial Group Inc. lifted its position in ACADIA Pharmaceuticals by 67.8% in the third quarter. Principal Financial Group Inc. now owns 129,551 shares of the biopharmaceutical company's stock worth $1,992,000 after purchasing an additional 52,340 shares during the period. Nordea Investment Management AB boosted its stake in ACADIA Pharmaceuticals by 1.3% during the 4th quarter. Nordea Investment Management AB now owns 264,031 shares of the biopharmaceutical company's stock valued at $4,952,000 after purchasing an additional 3,516 shares in the last quarter. Diversified Trust Co raised its stake in shares of ACADIA Pharmaceuticals by 9.8% in the 4th quarter. Diversified Trust Co now owns 35,774 shares of the biopharmaceutical company's stock worth $656,000 after buying an additional 3,187 shares in the last quarter. Finally, Burney Co. bought a new position in ACADIA Pharmaceuticals during the fourth quarter valued at about $6,953,000. Institutional investors and hedge funds own 96.71% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ACAD shares. UBS Group decreased their target price on ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating on the stock in a report on Monday. HC Wainwright reiterated a "buy" rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $20.00 target price on shares of ACADIA Pharmaceuticals in a research report on Friday, March 7th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a 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's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $23.87.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 3,171 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $17.05, for a total transaction of $54,065.55. Following the transaction, the executive vice president now owns 56,889 shares of the company's stock, valued at $969,957.45. The trade was a 5.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Elizabeth A. Garofalo sold 4,919 shares of the business'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 value 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 position. The disclosure for this sale can be found here. Insiders have sold 14,169 shares of company stock valued at $242,686 in the last 90 days. 28.30% of the stock is owned by insiders.

ACADIA Pharmaceuticals Price Performance

Shares of ACADIA Pharmaceuticals stock traded down $0.10 on Tuesday, hitting $14.57. 288,001 shares of the company's stock traded hands, compared to its average volume of 1,843,367. The firm's 50-day moving average price is $16.54 and its two-hundred day moving average price is $16.95. The stock has a market capitalization of $2.43 billion, a PE ratio of 18.66 and a beta of 0.54. ACADIA Pharmaceuticals Inc. has a one year low of $13.40 and a one year high of $20.68.

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.