JPMorgan Chase & Co. Has $13.09 Million Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

JPMorgan Chase & Co. increased its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 61.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 713,360 shares of the biopharmaceutical company's stock after buying an additional 272,236 shares during the quarter. JPMorgan Chase & Co. owned about 0.43% of ACADIA Pharmaceuticals worth $13,090,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in ACAD. R Squared Ltd purchased a new stake in ACADIA Pharmaceuticals during the 4th quarter worth $47,000. KBC Group NV lifted its stake in shares of ACADIA Pharmaceuticals by 67.0% during the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company's stock worth $93,000 after purchasing an additional 2,044 shares in the last quarter. Globeflex Capital L P purchased a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter worth about $168,000. Xponance Inc. acquired a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at about $186,000. Finally, Vinva Investment Management Ltd acquired a new position in ACADIA Pharmaceuticals during the 4th quarter worth approximately $187,000. 96.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ACAD shares. HC Wainwright reiterated a "buy" rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Morgan Stanley reiterated an "equal weight" rating and issued a $20.00 price objective on shares of ACADIA Pharmaceuticals in a report on Friday, March 7th. Guggenheim lowered ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $23.00 to $20.00 in a research report on Friday, January 3rd. Cantor Fitzgerald reissued an "overweight" rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft started coverage on ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They set a "hold" rating and a $22.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $23.93.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ:ACAD traded up $0.16 during trading on Friday, reaching $14.73. The company had a trading volume of 1,208,871 shares, compared to its average volume of 1,858,414. ACADIA Pharmaceuticals Inc. has a twelve month low of $13.40 and a twelve month high of $20.68. The firm has a market capitalization of $2.46 billion, a PE ratio of 18.88 and a beta of 0.54. The firm's fifty day moving average is $17.16 and its 200 day moving average is $16.93.

Insiders Place Their Bets

In other news, EVP Mark C. Schneyer sold 2,708 shares of the firm's stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $14.82, for a total transaction of $40,132.56. Following the completion of the transaction, the executive vice president now owns 59,456 shares in the company, valued at approximately $881,137.92. This trade represents a 4.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Elizabeth A. Garofalo sold 4,919 shares of the business'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 transaction of $89,673.37. Following the completion of the sale, the director now owns 17,595 shares in the company, valued at $320,756.85. The trade was a 21.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,169 shares of company stock worth $242,686 over the last ninety days. Company insiders own 28.30% of the company's stock.

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.