Phocas Financial Corp. Sells 43,836 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

by · The Cerbat Gem

Phocas Financial Corp. lowered its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Free Report) by 72.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 16,379 shares of the biopharmaceutical company’s stock after selling 43,836 shares during the quarter. Phocas Financial Corp.’s holdings in ACADIA Pharmaceuticals were worth $301,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Creative Planning raised its holdings in shares of ACADIA Pharmaceuticals by 71.4% during the third quarter. Creative Planning now owns 25,061 shares of the biopharmaceutical company’s stock valued at $385,000 after acquiring an additional 10,441 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of ACADIA Pharmaceuticals by 11.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 121,625 shares of the biopharmaceutical company’s stock valued at $1,871,000 after acquiring an additional 12,787 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of ACADIA Pharmaceuticals by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock valued at $94,000 after acquiring an additional 1,066 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of ACADIA Pharmaceuticals by 64.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 31,903 shares of the biopharmaceutical company’s stock valued at $491,000 after acquiring an additional 12,493 shares in the last quarter. Finally, US Bancorp DE raised its holdings in shares of ACADIA Pharmaceuticals by 2,084.0% during the third quarter. US Bancorp DE now owns 32,934 shares of the biopharmaceutical company’s stock valued at $507,000 after acquiring an additional 31,426 shares in the last quarter. Institutional investors own 96.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ACAD shares. StockNews.com downgraded ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. Guggenheim cut ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $23.00 to $20.00 in a research note on Friday, January 3rd. Deutsche Bank Aktiengesellschaft started coverage on ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They issued a “hold” rating and a $22.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Get Our Latest Research Report on ACAD

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ:ACAD opened at $18.96 on Thursday. The company has a market cap of $3.15 billion, a P/E ratio of 24.30 and a beta of 0.37. ACADIA Pharmaceuticals Inc. has a 1 year low of $14.15 and a 1 year high of $26.56. The stock’s fifty day moving average price is $18.32 and its 200-day moving average price is $16.79.

ACADIA Pharmaceuticals Profile

(Free Report)

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.

Further Reading

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