Hsbc Holdings PLC Acquires 4,025 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Hsbc Holdings PLC raised its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 6.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 69,021 shares of the biopharmaceutical company’s stock after purchasing an additional 4,025 shares during the quarter. Hsbc Holdings PLC’s holdings in ACADIA Pharmaceuticals were worth $1,275,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its holdings in shares of ACADIA Pharmaceuticals by 202.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,118 shares of the biopharmaceutical company’s stock worth $241,000 after acquiring an additional 8,778 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of ACADIA Pharmaceuticals by 3.8% in the fourth quarter. MetLife Investment Management LLC now owns 73,048 shares of the biopharmaceutical company’s stock valued at $1,340,000 after purchasing an additional 2,669 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of ACADIA Pharmaceuticals by 28.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,086,840 shares of the biopharmaceutical company’s stock valued at $19,932,000 after purchasing an additional 243,082 shares during the period. First Trust Advisors LP lifted its stake in shares of ACADIA Pharmaceuticals by 27.0% during the 4th quarter. First Trust Advisors LP now owns 2,700,125 shares of the biopharmaceutical company’s stock worth $49,547,000 after buying an additional 574,251 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of ACADIA Pharmaceuticals by 19.9% during the 4th quarter. Canada Pension Plan Investment Board now owns 780,700 shares of the biopharmaceutical company’s stock worth $14,326,000 after buying an additional 129,600 shares during the last quarter. 96.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 3,171 shares of the company’s stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $17.05, for a total transaction of $54,065.55. Following the completion of the sale, the executive vice president now directly 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 transaction 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 on Wednesday, March 5th. The shares were 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. The trade was a 21.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,994 shares of company stock worth $313,131. Corporate insiders own 28.30% of the company’s stock.

ACADIA Pharmaceuticals Stock Up 2.3 %

Shares of ACADIA Pharmaceuticals stock opened at $14.91 on Friday. The firm’s 50-day moving average price is $16.14 and its two-hundred day moving average price is $16.91. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 19.12 and a beta of 0.54. ACADIA Pharmaceuticals Inc. has a 12-month low of $13.40 and a 12-month high of $20.68.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ACAD shares. HC Wainwright reissued a “buy” rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Guggenheim lowered ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $23.00 to $20.00 in a research note on Friday, January 3rd. Needham & Company LLC restated a “buy” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft assumed coverage on ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a “hold” rating and a $22.00 price objective on the stock. Finally, 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. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, ACADIA Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $23.87.

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.