LSV Asset Management Sells 192,800 Shares of ACADIA Pharmaceuticals Inc. $ACAD

LSV Asset Management decreased its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 91.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 17,200 shares of the biopharmaceutical company’s stock after selling 192,800 shares during the quarter. LSV Asset Management’s holdings in ACADIA Pharmaceuticals were worth $367,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in ACADIA Pharmaceuticals by 2.4% during the second quarter. Geode Capital Management LLC now owns 3,024,097 shares of the biopharmaceutical company’s stock worth $65,238,000 after buying an additional 69,584 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of ACADIA Pharmaceuticals by 2.8% in the 2nd quarter. First Trust Advisors LP now owns 2,434,376 shares of the biopharmaceutical company’s stock worth $52,509,000 after acquiring an additional 65,914 shares in the last quarter. Marshall Wace LLP grew its position in ACADIA Pharmaceuticals by 496.2% during the 2nd quarter. Marshall Wace LLP now owns 1,969,711 shares of the biopharmaceutical company’s stock worth $42,487,000 after acquiring an additional 1,639,315 shares during the last quarter. Norges Bank acquired a new stake in ACADIA Pharmaceuticals during the 2nd quarter valued at $31,679,000. Finally, Rockefeller Capital Management L.P. increased its holdings in ACADIA Pharmaceuticals by 2.3% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 1,164,394 shares of the biopharmaceutical company’s stock valued at $25,116,000 after purchasing an additional 26,300 shares in the last quarter. 96.71% of the stock is owned by institutional investors.

ACADIA Pharmaceuticals Stock Performance

ACAD opened at $22.95 on Wednesday. The company has a fifty day moving average price of $25.93 and a two-hundred day moving average price of $24.44. The firm has a market capitalization of $3.88 billion, a PE ratio of 14.81, a P/E/G ratio of 7.73 and a beta of 0.66. ACADIA Pharmaceuticals Inc. has a 52 week low of $13.40 and a 52 week high of $28.35.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Weiss Ratings restated a “hold (c+)” rating on shares of ACADIA Pharmaceuticals in a research note on Monday, December 29th. Mizuho raised their price objective on shares of ACADIA Pharmaceuticals from $24.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, December 2nd. Piper Sandler set a $37.00 target price on shares of ACADIA Pharmaceuticals in a research report on Tuesday, December 16th. Citizens Jmp reissued a “market outperform” rating and set a $34.00 price target on shares of ACADIA Pharmaceuticals in a research note on Tuesday, February 3rd. Finally, Royal Bank Of Canada dropped their price objective on shares of ACADIA Pharmaceuticals from $35.00 to $31.00 and set an “outperform” rating for the company in a research report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.95.

Insider Transactions at ACADIA Pharmaceuticals

In other news, EVP Jennifer J. Rhodes sold 6,950 shares of the company’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $23.38, for a total value of $162,491.00. Following the completion of the sale, the executive vice president directly owned 7,609 shares of the company’s stock, valued at $177,898.42. This represents a 47.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 28.30% of the company’s stock.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.