Raymond James Financial Inc. Makes New $664,000 Investment in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Raymond James Financial Inc. acquired a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 36,161 shares of the biopharmaceutical company's stock, valued at approximately $664,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. State Street Corp lifted its position in ACADIA Pharmaceuticals by 3.0% during the third quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company's stock valued at $91,878,000 after purchasing an additional 173,084 shares during the last quarter. Barclays PLC raised its position in shares of ACADIA Pharmaceuticals by 126.2% during the 3rd quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company's stock valued at $4,269,000 after buying an additional 154,854 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of ACADIA Pharmaceuticals by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,875,540 shares of the biopharmaceutical company's stock worth $44,234,000 after acquiring an additional 30,826 shares during the last quarter. Principal Financial Group Inc. grew its position in ACADIA Pharmaceuticals by 67.8% in the third quarter. Principal Financial Group Inc. now owns 129,551 shares of the biopharmaceutical company's stock worth $1,992,000 after acquiring an additional 52,340 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in ACADIA Pharmaceuticals by 1.3% in the fourth quarter. Nordea Investment Management AB now owns 264,031 shares of the biopharmaceutical company's stock valued at $4,952,000 after acquiring an additional 3,516 shares during the last quarter. Hedge funds and other institutional investors own 96.71% of the company's stock.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 3,171 shares of the firm's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $17.05, for a total value of $54,065.55. Following the completion of the sale, the executive vice president now directly owns 56,889 shares in the company, valued at $969,957.45. This trade represents a 5.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Elizabeth A. Garofalo sold 4,919 shares of the company's stock in a transaction that occurred 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 transaction, the director now owns 17,595 shares in the company, valued at $320,756.85. This trade represents a 21.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,169 shares of company stock worth $242,686 over the last quarter. Corporate insiders own 28.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. StockNews.com raised ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. Morgan Stanley restated an "equal weight" rating and issued a $20.00 target price on shares of ACADIA Pharmaceuticals in a research report on Friday, March 7th. HC Wainwright reiterated a "buy" rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They issued a "hold" rating and a $22.00 price objective for the company. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $23.93.

ACADIA Pharmaceuticals Stock Up 3.3 %

Shares of ACAD traded up $0.47 during mid-day trading on Friday, hitting $14.58. 1,904,307 shares of the company's stock traded hands, compared to its average volume of 1,854,084. The firm has a market capitalization of $2.43 billion, a P/E ratio of 18.69 and a beta of 0.54. The business's 50-day moving average price is $17.57 and its 200-day moving average price is $16.96. ACADIA Pharmaceuticals Inc. has a 1 year low of $13.40 and a 1 year high of $20.68.

About ACADIA Pharmaceuticals

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.