Headlands Technologies LLC Purchases 3,619 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Headlands Technologies LLC raised its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 8.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 48,257 shares of the biopharmaceutical company’s stock after buying an additional 3,619 shares during the period. Headlands Technologies LLC’s holdings in ACADIA Pharmaceuticals were worth $886,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ACAD. R Squared Ltd purchased a new position in ACADIA Pharmaceuticals during the fourth quarter valued at $47,000. KBC Group NV grew its position in shares of ACADIA Pharmaceuticals by 67.0% during the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock valued at $93,000 after purchasing an additional 2,044 shares in the last quarter. Globeflex Capital L P bought a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter worth about $168,000. Xponance Inc. purchased a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter worth about $186,000. Finally, Vinva Investment Management Ltd bought a new position in ACADIA Pharmaceuticals during the fourth quarter valued at approximately $187,000. Institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Trading Up 1.8 %

NASDAQ ACAD opened at $16.62 on Thursday. The stock has a market cap of $2.77 billion, a PE ratio of 21.31 and a beta of 0.54. ACADIA Pharmaceuticals Inc. has a 12 month low of $14.15 and a 12 month high of $20.68. The company’s 50-day moving average price is $18.26 and its 200-day moving average price is $17.05.

Analyst Ratings Changes

Several brokerages have recently issued reports on ACAD. Morgan Stanley reaffirmed an “equal weight” rating and set a $20.00 price objective on shares of ACADIA Pharmaceuticals in a report on Friday, March 7th. Deutsche Bank Aktiengesellschaft started coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a “hold” rating and a $22.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Guggenheim cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their target price for the company from $23.00 to $20.00 in a research report on Friday, January 3rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $23.93.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 4,919 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total value of $89,673.37. Following the completion of the sale, the director now directly owns 17,595 shares in the company, valued at approximately $320,756.85. This represents a 21.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark C. Schneyer sold 3,171 shares of the firm’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $17.05, for a total value of $54,065.55. Following the transaction, the executive vice president now owns 56,889 shares in the company, valued at approximately $969,957.45. This represents a 5.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,433 shares of company stock worth $187,319 in the last three months. Corporate insiders own 28.30% of the company’s stock.

ACADIA Pharmaceuticals Profile

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.