ACADIA Pharmaceuticals Inc. $ACAD Shares Sold by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. cut its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 25.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 476,317 shares of the biopharmaceutical company’s stock after selling 160,058 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in ACADIA Pharmaceuticals were worth $10,165,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the business. Geneos Wealth Management Inc. increased its stake in shares of ACADIA Pharmaceuticals by 113.0% in the third quarter. Geneos Wealth Management Inc. now owns 1,425 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 756 shares during the period. Smartleaf Asset Management LLC boosted its holdings in ACADIA Pharmaceuticals by 107.0% in the third quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 885 shares during the last quarter. USA Financial Formulas acquired a new stake in ACADIA Pharmaceuticals during the 3rd quarter worth about $41,000. GAMMA Investing LLC raised its stake in shares of ACADIA Pharmaceuticals by 25.8% during the 3rd quarter. GAMMA Investing LLC now owns 3,361 shares of the biopharmaceutical company’s stock valued at $72,000 after buying an additional 690 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of ACADIA Pharmaceuticals by 11.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,323 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 534 shares during the period. 96.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on ACAD. Mizuho raised their target price on ACADIA Pharmaceuticals from $24.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, December 2nd. Stifel Nicolaus set a $37.00 price objective on ACADIA Pharmaceuticals in a research report on Tuesday, December 16th. 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 report on Monday, November 17th. Needham & Company LLC reiterated a “buy” rating and issued a $34.00 target price on shares of ACADIA Pharmaceuticals in a research note on Monday, January 5th. Finally, Citizens Jmp restated a “market outperform” rating and set a $34.00 price target on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $30.95.

Insider Transactions at ACADIA Pharmaceuticals

In other news, EVP Jennifer J. Rhodes sold 6,950 shares of ACADIA Pharmaceuticals stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $23.38, for a total value of $162,491.00. Following the sale, the executive vice president owned 7,609 shares in the company, valued at $177,898.42. This trade represents a 47.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 26.50% of the stock is currently owned by insiders.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ:ACAD opened at $23.99 on Friday. The business’s 50 day moving average price is $25.75 and its 200-day moving average price is $24.43. ACADIA Pharmaceuticals Inc. has a 1 year low of $13.40 and a 1 year high of $28.35. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 8.54 and a beta of 0.66.

ACADIA Pharmaceuticals 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.