Proficio Capital Partners LLC Invests $272,000 in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Proficio Capital Partners LLC bought a new stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 14,827 shares of the biopharmaceutical company’s stock, valued at approximately $272,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. R Squared Ltd purchased a new position in ACADIA Pharmaceuticals during the 4th quarter valued at $47,000. Quest Partners LLC increased its position in shares of 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 buying an additional 1,047 shares during the period. KBC Group NV raised 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 buying an additional 2,044 shares in the last quarter. PDT Partners LLC purchased a new stake in ACADIA Pharmaceuticals in the third quarter worth about $203,000. Finally, Advisors Asset Management Inc. lifted its holdings in ACADIA Pharmaceuticals by 13.4% in the third quarter. Advisors Asset Management Inc. now owns 21,087 shares of the biopharmaceutical company’s stock worth $324,000 after buying an additional 2,499 shares during the period. Institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Trading Down 0.5 %

ACADIA Pharmaceuticals stock opened at $17.03 on Thursday. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 21.83 and a beta of 0.43. ACADIA Pharmaceuticals Inc. has a 12 month low of $14.15 and a 12 month high of $20.68. The stock has a fifty day simple moving average of $18.35 and a two-hundred day simple moving average of $17.02.

Insider Buying and Selling

In related news, EVP Mark C. Schneyer sold 3,171 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were 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 in the company, valued at $969,957.45. This represents a 5.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $89,673.37. Following the completion of the sale, the director now directly owns 17,595 shares of the company’s stock, valued at approximately $320,756.85. This trade represents a 21.85 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,433 shares of company stock worth $187,319. 28.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ACAD shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft started coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “hold” rating and a $22.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Finally, Guggenheim cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $23.00 to $20.00 in a report on Friday, January 3rd. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and an average 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.