Oppenheimer Asset Management Inc. bought a new stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 17,623 shares of the biopharmaceutical company’s stock, valued at approximately $446,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Farther Finance Advisors LLC raised its position in ACADIA Pharmaceuticals by 67.5% in the fourth quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 386 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in ACADIA Pharmaceuticals during the fourth quarter valued at approximately $26,000. Transamerica Financial Advisors LLC grew its stake in shares of ACADIA Pharmaceuticals by 304.5% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 1,005 shares during the period. Federated Hermes Inc. grew its stake in shares of ACADIA Pharmaceuticals by 277.5% in the 4th quarter. Federated Hermes Inc. now owns 1,612 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 1,185 shares during the period. Finally, Leonteq Securities AG bought a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at approximately $52,000. Institutional investors own 96.71% of the company’s stock.
ACADIA Pharmaceuticals Price Performance
ACAD opened at $29.01 on Tuesday. ACADIA Pharmaceuticals Inc. has a one year low of $19.69 and a one year high of $29.85. The company’s 50 day simple moving average is $25.29 and its 200-day simple moving average is $23.35. The stock has a market capitalization of $5.00 billion, a P/E ratio of 13.07, a price-to-earnings-growth ratio of 22.24 and a beta of 0.81.
Insider Transactions at ACADIA Pharmaceuticals
In other news, EVP Mark C. Schneyer sold 14,292 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $29.22, for a total transaction of $417,612.24. Following the completion of the sale, the executive vice president owned 67,828 shares in the company, valued at $1,981,934.16. The trade was a 17.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Elizabeth H.Z. Thompson sold 16,558 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $26.13, for a total value of $432,660.54. Following the transaction, the executive vice president directly owned 18,994 shares in the company, valued at $496,313.22. This trade represents a 46.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 42,100 shares of company stock worth $1,134,287 over the last 90 days. 26.20% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on ACAD shares. Stifel Nicolaus raised their target price on ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Morgan Stanley set a $27.00 price target on ACADIA Pharmaceuticals in a research report on Monday, August 10th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Monday, June 29th. BMO Capital Markets lifted their price objective on ACADIA Pharmaceuticals from $34.00 to $36.00 and gave the company an “outperform” rating in a report on Tuesday, July 21st. Finally, Weiss Ratings upgraded shares of ACADIA Pharmaceuticals from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, August 12th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.19.
Read Our Latest Stock Analysis on ACAD
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.
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