ACADIA Pharmaceuticals Inc. $ACAD Shares Bought by Nordea Investment Management AB

Nordea Investment Management AB raised its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 1.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 277,700 shares of the biopharmaceutical company’s stock after acquiring an additional 2,633 shares during the period. Nordea Investment Management AB owned 0.17% of ACADIA Pharmaceuticals worth $6,109,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of ACADIA Pharmaceuticals by 645.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 310,332 shares of the biopharmaceutical company’s stock valued at $5,065,000 after buying an additional 268,714 shares during the last quarter. Comerica Bank raised its holdings in shares of ACADIA Pharmaceuticals by 4,770.1% during the first quarter. Comerica Bank now owns 43,100 shares of the biopharmaceutical company’s stock valued at $716,000 after buying an additional 42,215 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of ACADIA Pharmaceuticals by 627.3% during the first quarter. GAMMA Investing LLC now owns 3,513 shares of the biopharmaceutical company’s stock valued at $58,000 after buying an additional 3,030 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of ACADIA Pharmaceuticals by 100.9% during the first quarter. Rhumbline Advisers now owns 352,716 shares of the biopharmaceutical company’s stock valued at $5,859,000 after buying an additional 177,188 shares during the last quarter. Finally, Concurrent Investment Advisors LLC bought a new stake in shares of ACADIA Pharmaceuticals during the first quarter valued at approximately $247,000. Institutional investors own 96.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft set a $29.00 price target on ACADIA Pharmaceuticals in a report on Thursday, September 25th. JPMorgan Chase & Co. cut their price target on ACADIA Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Monday, September 29th. Citigroup reaffirmed an “outperform” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, August 7th. Royal Bank Of Canada upped their target price on ACADIA Pharmaceuticals from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Finally, UBS Group upped their target price on ACADIA Pharmaceuticals from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, ACADIA Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $29.12.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 22,000 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $25.18, for a total value of $553,960.00. Following the transaction, the executive vice president owned 40,130 shares of the company’s stock, valued at approximately $1,010,473.40. This represents a 35.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Elizabeth A. Garofalo sold 1,600 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $25.98, for a total value of $41,568.00. Following the completion of the transaction, the director directly owned 25,382 shares in the company, valued at $659,424.36. This represents a 5.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,098 shares of company stock worth $678,256 in the last ninety days. 28.30% of the stock is owned by corporate insiders.

ACADIA Pharmaceuticals Price Performance

ACAD opened at $20.94 on Tuesday. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 15.74, a price-to-earnings-growth ratio of 7.34 and a beta of 0.75. ACADIA Pharmaceuticals Inc. has a 1-year low of $13.40 and a 1-year high of $26.65. The business has a 50 day moving average price of $23.53 and a two-hundred day moving average price of $21.20.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. The company had revenue of $264.57 million for the quarter, compared to analysts’ expectations of $263.07 million. ACADIA Pharmaceuticals had a return on equity of 14.69% and a net margin of 21.80%.The firm’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 earnings per share. Equities analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

ACADIA Pharmaceuticals Company 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.