New York Life Investment Management LLC Has $394,000 Stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

New York Life Investment Management LLC trimmed its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACADFree Report) by 13.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 18,889 shares of the biopharmaceutical company’s stock after selling 3,010 shares during the period. New York Life Investment Management LLC’s holdings in ACADIA Pharmaceuticals were worth $394,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ACAD. Norges Bank bought a new stake in ACADIA Pharmaceuticals in the 4th quarter worth about $31,110,000. State Street Corp grew its position in ACADIA Pharmaceuticals by 30.4% in the 2nd quarter. State Street Corp now owns 6,593,950 shares of the biopharmaceutical company’s stock worth $92,909,000 after purchasing an additional 1,536,756 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in ACADIA Pharmaceuticals in the 4th quarter worth about $17,765,000. Man Group plc grew its position in ACADIA Pharmaceuticals by 4,022.0% in the 4th quarter. Man Group plc now owns 955,688 shares of the biopharmaceutical company’s stock worth $15,215,000 after purchasing an additional 932,503 shares in the last quarter. Finally, Nomura Holdings Inc. grew its position in ACADIA Pharmaceuticals by 1,296.2% in the 4th quarter. Nomura Holdings Inc. now owns 927,866 shares of the biopharmaceutical company’s stock worth $14,763,000 after purchasing an additional 861,409 shares in the last quarter. 96.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Needham & Company LLC upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Wednesday, January 24th. Morgan Stanley upgraded shares of ACADIA Pharmaceuticals from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $31.00 to $40.00 in a research note on Tuesday, December 19th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $42.00 target price on shares of ACADIA Pharmaceuticals in a research note on Friday, February 2nd. Mizuho boosted their target price on shares of ACADIA Pharmaceuticals from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, December 29th. Finally, Stifel Nicolaus boosted their target price on shares of ACADIA Pharmaceuticals from $25.00 to $27.00 and gave the company a “hold” rating in a research note on Monday, December 18th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, ACADIA Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.26.

Read Our Latest Report on ACADIA Pharmaceuticals

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 3,732 shares of the stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $29.96, for a total value of $111,810.72. Following the sale, the chief executive officer now directly owns 96,521 shares in the company, valued at approximately $2,891,769.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Mark C. Schneyer sold 5,108 shares of the stock in a transaction on Monday, November 20th. The shares were sold at an average price of $22.64, for a total value of $115,645.12. Following the transaction, the chief financial officer now owns 20,486 shares of the company’s stock, valued at approximately $463,803.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Stephen Davis sold 3,732 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $29.96, for a total transaction of $111,810.72. Following the completion of the transaction, the chief executive officer now directly owns 96,521 shares in the company, valued at approximately $2,891,769.16. The disclosure for this sale can be found here. Insiders have sold 19,106 shares of company stock worth $480,868 in the last three months. 27.50% of the stock is currently owned by corporate insiders.

ACADIA Pharmaceuticals Price Performance

NASDAQ ACAD opened at $26.36 on Friday. ACADIA Pharmaceuticals Inc. has a 1 year low of $17.71 and a 1 year high of $33.99. The stock has a market capitalization of $4.33 billion, a PE ratio of -28.65 and a beta of 0.45. The company’s 50 day simple moving average is $27.60 and its two-hundred day simple moving average is $25.76.

About ACADIA Pharmaceuticals

(Free Report)

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. It offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis.

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Institutional Ownership by Quarter for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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