ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 7.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 467,443 shares of the biopharmaceutical company’s stock after selling 37,281 shares during the quarter. Pictet Asset Management Holding SA’s holdings in ACADIA Pharmaceuticals were worth $8,578,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in ACAD. BNP Paribas Financial Markets raised its holdings in shares of ACADIA Pharmaceuticals by 259.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 223,618 shares of the biopharmaceutical company’s stock valued at $3,439,000 after purchasing an additional 161,331 shares in the last quarter. PDT Partners LLC acquired a new stake in ACADIA Pharmaceuticals in the third quarter valued at $203,000. State Street Corp lifted its holdings in ACADIA Pharmaceuticals by 3.0% during the 3rd quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company’s stock worth $91,878,000 after buying an additional 173,084 shares during the last quarter. Barclays PLC boosted its position in shares of ACADIA Pharmaceuticals by 126.2% during the 3rd quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company’s stock worth $4,269,000 after acquiring an additional 154,854 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of ACADIA Pharmaceuticals by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,875,540 shares of the biopharmaceutical company’s stock valued at $44,234,000 after acquiring an additional 30,826 shares during the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Analyst Upgrades and Downgrades

ACAD has been the subject of several recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Morgan Stanley restated an “equal weight” rating and issued a $20.00 target price on shares of ACADIA Pharmaceuticals in a report on Friday, March 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They set a “hold” rating and a $22.00 price target on the stock. Needham & Company LLC restated a “buy” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.93.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD opened at $16.62 on Thursday. ACADIA Pharmaceuticals Inc. has a 1 year low of $14.15 and a 1 year high of $20.68. The stock has a market capitalization of $2.77 billion, a P/E ratio of 21.31 and a beta of 0.54. The company’s fifty day moving average is $18.26 and its two-hundred day moving average is $17.05.

Insider Transactions at ACADIA Pharmaceuticals

In related news, Director Elizabeth A. Garofalo sold 4,919 shares of the company’s stock in a transaction 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 owns 17,595 shares of the company’s stock, valued at $320,756.85. This represents a 21.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark C. Schneyer sold 3,171 shares of the stock in a transaction 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 owns 56,889 shares of the company’s stock, valued at $969,957.45. The trade was a 5.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,433 shares of company stock worth $187,319 over the last ninety days. 28.30% of the stock is currently owned by company insiders.

ACADIA Pharmaceuticals 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.