Cibc World Markets Corp Invests $206,000 in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Cibc World Markets Corp acquired a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 11,199 shares of the biopharmaceutical company’s stock, valued at approximately $206,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Natixis Advisors LLC grew its position in shares of ACADIA Pharmaceuticals by 58.6% during the 3rd quarter. Natixis Advisors LLC now owns 40,488 shares of the biopharmaceutical company’s stock worth $623,000 after buying an additional 14,961 shares during the period. Quest Partners LLC grew its holdings 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 period. Advisors Asset Management Inc. increased its stake 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 valued at $324,000 after purchasing an additional 2,499 shares in the last quarter. Intech Investment Management LLC acquired a new stake in ACADIA Pharmaceuticals in the third quarter worth $580,000. Finally, Fisher Asset Management LLC boosted its position in shares of ACADIA Pharmaceuticals by 19.7% during the third quarter. Fisher Asset Management LLC now owns 194,599 shares of the biopharmaceutical company’s stock worth $2,993,000 after purchasing an additional 31,980 shares in the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on ACAD. Needham & Company LLC restated a “buy” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Morgan Stanley reissued an “equal weight” rating and issued a $20.00 target price on shares of ACADIA Pharmaceuticals in a research note on Friday, March 7th. HC Wainwright reiterated a “buy” rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft began coverage on ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They set a “hold” rating and a $22.00 target price for the company. Finally, Guggenheim lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their price target for the company from $23.00 to $20.00 in a research note on Friday, January 3rd. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $23.93.

ACADIA Pharmaceuticals Stock Performance

ACAD opened at $17.03 on Thursday. The business’s 50-day simple moving average is $18.35 and its 200 day simple moving average is $17.02. ACADIA Pharmaceuticals Inc. has a 52-week low of $14.15 and a 52-week high of $20.68. The firm has a market capitalization of $2.84 billion, a PE ratio of 21.83 and a beta of 0.43.

Insiders Place Their Bets

In related news, EVP Mark C. Schneyer sold 3,171 shares of the firm’s stock in a transaction on Wednesday, March 26th. The shares were 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 directly owns 56,889 shares of the company’s stock, valued at approximately $969,957.45. This trade represents a 5.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the director now directly owns 17,595 shares in the company, valued at $320,756.85. This trade represents a 21.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,433 shares of company stock valued at $187,319 in the last 90 days. 28.30% of the stock is currently owned by 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.