Cibc World Markets Corp Takes Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Cibc World Markets Corp bought a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 11,199 shares of the biopharmaceutical company’s stock, valued at approximately $206,000.

Several other large investors have also recently bought and sold shares of the stock. Quest Partners LLC increased its holdings in shares of ACADIA Pharmaceuticals by 42.3% during the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 1,047 shares during the period. KBC Group NV grew its position in ACADIA Pharmaceuticals by 67.0% during the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock worth $93,000 after buying an additional 2,044 shares in the last quarter. Advisors Asset Management Inc. increased its stake in ACADIA Pharmaceuticals by 13.4% during the third quarter. Advisors Asset Management Inc. now owns 21,087 shares of the biopharmaceutical company’s stock valued at $324,000 after acquiring an additional 2,499 shares during the period. R Squared Ltd acquired a new position in ACADIA Pharmaceuticals in the 4th quarter valued at approximately $47,000. Finally, Swiss National Bank lifted its position in shares of ACADIA Pharmaceuticals by 1.4% in the 4th quarter. Swiss National Bank now owns 212,104 shares of the biopharmaceutical company’s stock worth $3,892,000 after acquiring an additional 2,900 shares during the period. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ACADIA Pharmaceuticals

In related news, EVP Mark C. Schneyer sold 3,171 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $17.05, for a total value of $54,065.55. Following the transaction, the executive vice president now owns 56,889 shares in the company, valued at $969,957.45. This trade represents a 5.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Elizabeth A. Garofalo sold 4,919 shares of the business’s stock in a transaction dated 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 directly 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 disclosure for this sale can be found here. Insiders sold a total of 10,433 shares of company stock valued at $187,319 over the last quarter. Corporate insiders own 28.30% of the company’s stock.

ACADIA Pharmaceuticals Trading Down 0.5 %

ACAD opened at $17.03 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 $2.84 billion, a PE ratio of 21.83 and a beta of 0.43. The firm has a 50-day moving average price of $18.35 and a two-hundred day moving average price of $17.02.

Analyst Ratings Changes

A number of research analysts recently commented on the company. HC Wainwright restated a “buy” rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They set a “hold” rating and a $22.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Finally, StockNews.com upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.93.

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.