Canada Pension Plan Investment Board grew its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 19.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 780,700 shares of the biopharmaceutical company's stock after purchasing an additional 129,600 shares during the period. Canada Pension Plan Investment Board owned approximately 0.47% of ACADIA Pharmaceuticals worth $14,326,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. SG Americas Securities LLC raised its position in ACADIA Pharmaceuticals by 380.3% in the 4th quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company's stock worth $45,576,000 after purchasing an additional 1,966,607 shares during the last quarter. Barclays PLC raised its position in shares of ACADIA Pharmaceuticals by 126.2% during the third quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company's stock worth $4,269,000 after acquiring an additional 154,854 shares during the last quarter. Burney Co. acquired a new position in shares of ACADIA Pharmaceuticals during the fourth quarter valued at $6,953,000. Proficio Capital Partners LLC bought a new position in ACADIA Pharmaceuticals in the fourth quarter valued at about $272,000. Finally, Principal Financial Group Inc. boosted its holdings 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 valued at $1,992,000 after acquiring an additional 52,340 shares during the last quarter. 96.71% of the stock is owned by institutional investors and hedge funds.
ACADIA Pharmaceuticals Price Performance
ACAD stock traded up $0.21 during trading hours on Thursday, reaching $14.83. 967,861 shares of the stock were exchanged, compared to its average volume of 1,851,103. The firm's 50-day moving average is $16.85 and its 200-day moving average is $16.92. ACADIA Pharmaceuticals Inc. has a 12 month low of $13.40 and a 12 month high of $20.68. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 19.01 and a beta of 0.54.
Insider Transactions at ACADIA Pharmaceuticals
In other news, Director Elizabeth A. Garofalo sold 4,919 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total value of $89,673.37. Following the sale, the director now owns 17,595 shares of the company's stock, valued at $320,756.85. The trade was a 21.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark C. Schneyer sold 3,171 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $17.05, for a total transaction of $54,065.55. Following the transaction, the executive vice president now owns 56,889 shares of the company's stock, valued at $969,957.45. The trade was a 5.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,169 shares of company stock valued at $242,686 over the last three months. Company insiders own 28.30% of the company's stock.
Analysts Set New Price Targets
ACAD has been the topic of a number of research reports. Cantor Fitzgerald restated an "overweight" rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. HC Wainwright restated a "buy" rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Guggenheim lowered shares of ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $23.00 to $20.00 in a report on Friday, January 3rd. Needham & Company LLC reiterated a "buy" rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Tuesday, April 8th. Finally, StockNews.com upgraded ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday, March 8th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $23.93.
Check Out Our Latest Analysis on ACADIA Pharmaceuticals
About ACADIA Pharmaceuticals
(
Free Report)
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.
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