E Fund Management Co. Ltd. Trims Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

E Fund Management Co. Ltd. lowered its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 42.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,628 shares of the biopharmaceutical company’s stock after selling 7,704 shares during the period. E Fund Management Co. Ltd.’s holdings in ACADIA Pharmaceuticals were worth $195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quest Partners LLC lifted its position in ACADIA Pharmaceuticals by 42.3% during the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 1,047 shares during the last quarter. KBC Group NV grew its stake in ACADIA Pharmaceuticals by 67.0% in the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock worth $93,000 after purchasing an additional 2,044 shares in the last quarter. Atria Investments Inc grew its position in shares of ACADIA Pharmaceuticals by 10.8% during the 3rd quarter. Atria Investments Inc now owns 24,437 shares of the biopharmaceutical company’s stock worth $376,000 after buying an additional 2,384 shares in the last quarter. Advisors Asset Management Inc. increased its position in ACADIA Pharmaceuticals by 13.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 21,087 shares of the biopharmaceutical company’s stock valued at $324,000 after purchasing an additional 2,499 shares during the period. Finally, R Squared Ltd purchased a new stake in ACADIA Pharmaceuticals during the fourth quarter worth $47,000. 96.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ACAD. Deutsche Bank Aktiengesellschaft started coverage on ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a “hold” rating and a $22.00 price target on the stock. Morgan Stanley reiterated an “equal weight” rating and issued a $20.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Friday. Guggenheim lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their target price for the company from $23.00 to $20.00 in a report on Friday, January 3rd. StockNews.com upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Insiders Place Their Bets

In other news, Director Elizabeth A. Garofalo sold 4,919 shares of ACADIA Pharmaceuticals 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 completion of the transaction, the director now owns 17,595 shares in the company, valued at approximately $320,756.85. This trade represents a 21.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 6,167 shares of company stock worth $114,583 in the last 90 days. 28.30% of the stock is owned by company insiders.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ:ACAD opened at $17.56 on Monday. The firm has a market capitalization of $2.93 billion, a PE ratio of 22.51 and a beta of 0.43. ACADIA Pharmaceuticals Inc. has a 12 month low of $14.15 and a 12 month high of $24.27. The business has a 50-day moving average of $18.50 and a two-hundred day moving average of $16.94.

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.