Rhumbline Advisers Buys 24,463 Shares of ACADIA Pharmaceuticals Inc. $ACAD

Rhumbline Advisers boosted its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 6.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 391,549 shares of the biopharmaceutical company’s stock after acquiring an additional 24,463 shares during the period. Rhumbline Advisers owned 0.23% of ACADIA Pharmaceuticals worth $8,356,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Marshall Wace LLP increased its stake in shares of ACADIA Pharmaceuticals by 496.2% in the second quarter. Marshall Wace LLP now owns 1,969,711 shares of the biopharmaceutical company’s stock worth $42,487,000 after purchasing an additional 1,639,315 shares in the last quarter. Norges Bank purchased a new stake in ACADIA Pharmaceuticals in the 2nd quarter worth $31,679,000. Adage Capital Partners GP L.L.C. purchased a new stake in ACADIA Pharmaceuticals in the 2nd quarter worth $13,024,000. Candriam S.C.A. bought a new stake in ACADIA Pharmaceuticals during the third quarter valued at about $11,472,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of ACADIA Pharmaceuticals in the second quarter valued at about $7,257,000. Hedge funds and other institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Trading Down 1.4%

Shares of NASDAQ ACAD opened at $23.99 on Friday. ACADIA Pharmaceuticals Inc. has a 12-month low of $13.40 and a 12-month high of $28.35. The firm’s 50-day moving average price is $25.75 and its 200-day moving average price is $24.44. The stock has a market capitalization of $4.06 billion, a price-to-earnings ratio of 15.48, a P/E/G ratio of 8.42 and a beta of 0.66.

Analyst Ratings Changes

Several research firms recently issued reports on ACAD. UBS Group increased their target price on ACADIA Pharmaceuticals from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Royal Bank Of Canada cut their price objective on shares of ACADIA Pharmaceuticals from $35.00 to $31.00 and set an “outperform” rating for the company in a report on Tuesday, February 3rd. Needham & Company LLC reiterated a “buy” rating and set a $34.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Monday, January 5th. HC Wainwright restated a “buy” rating and set a $37.00 target price on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 3rd. Finally, JPMorgan Chase & Co. cut their target price on shares of ACADIA Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $30.95.

Insider Activity at ACADIA Pharmaceuticals

In other news, EVP Jennifer J. Rhodes sold 6,950 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on 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 transaction, the executive vice president owned 7,609 shares in the company, valued at approximately $177,898.42. The trade was a 47.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 26.50% 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.