BNP Paribas Financial Markets Boosts Stock Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

BNP Paribas Financial Markets boosted its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 259.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 223,618 shares of the biopharmaceutical company's stock after purchasing an additional 161,331 shares during the period. BNP Paribas Financial Markets owned about 0.13% of ACADIA Pharmaceuticals worth $3,439,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. M&G Plc boosted its holdings in shares of ACADIA Pharmaceuticals by 12.4% in the 2nd quarter. M&G Plc now owns 351,115 shares of the biopharmaceutical company's stock worth $5,618,000 after buying an additional 38,790 shares during the last quarter. Fred Alger Management LLC raised its position in ACADIA Pharmaceuticals by 19.8% in the second quarter. Fred Alger Management LLC now owns 2,704,439 shares of the biopharmaceutical company's stock worth $43,947,000 after acquiring an additional 446,875 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in ACADIA Pharmaceuticals in the third quarter valued at about $483,000. US Bancorp DE grew its position in shares of ACADIA Pharmaceuticals by 2,084.0% during the 3rd quarter. US Bancorp DE now owns 32,934 shares of the biopharmaceutical company's stock valued at $507,000 after acquiring an additional 31,426 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of ACADIA Pharmaceuticals by 67.8% during the 3rd quarter. Principal Financial Group Inc. now owns 129,551 shares of the biopharmaceutical company's stock worth $1,992,000 after purchasing an additional 52,340 shares during the last quarter. Institutional investors own 96.71% of the company's stock.

Insider Activity

In other news, COO Brendan Teehan sold 10,329 shares of the company's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $173,630.49. Following the completion of the transaction, the chief operating officer now directly owns 62,105 shares in the company, valued at approximately $1,043,985.05. This represents a 14.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James Kihara sold 4,073 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total value of $68,467.13. Following the transaction, the insider now owns 19,863 shares in the company, valued at $333,897.03. This trade represents a 17.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,661 shares of company stock worth $414,551. 28.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ACAD has been the topic of several research analyst reports. StockNews.com downgraded ACADIA Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Thursday, November 14th. Royal Bank of Canada dropped their price target on ACADIA Pharmaceuticals from $29.00 to $26.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 7th. UBS Group decreased their price objective on ACADIA Pharmaceuticals from $25.00 to $23.00 and set a "buy" rating for the company in a report on Thursday, August 8th. Needham & Company LLC reaffirmed a "buy" rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Finally, Raymond James reiterated a "market perform" rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 10th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $25.56.

ACADIA Pharmaceuticals Price Performance

NASDAQ ACAD traded down $0.46 during trading on Thursday, reaching $16.71. The company's stock had a trading volume of 1,823,127 shares, compared to its average volume of 1,664,477. The firm has a fifty day moving average of $15.69 and a 200 day moving average of $16.05. ACADIA Pharmaceuticals Inc. has a one year low of $14.15 and a one year high of $32.59. The stock has a market capitalization of $2.78 billion, a PE ratio of 21.42 and a beta of 0.40.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.06. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The company had revenue of $250.40 million for the quarter, compared to analysts' expectations of $248.83 million. During the same period in the prior year, the business earned ($0.40) earnings per share. ACADIA Pharmaceuticals's revenue for the quarter was up 18.3% compared to the same quarter last year. Research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.73 earnings per share 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.