Norges Bank Acquires Shares of 1,392,618 ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Norges Bank bought a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,392,618 shares of the biopharmaceutical company's stock, valued at approximately $25,555,000. Norges Bank owned about 0.84% of ACADIA Pharmaceuticals at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its holdings in shares of ACADIA Pharmaceuticals by 380.3% during the 4th quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company's stock worth $45,576,000 after buying an additional 1,966,607 shares in the last quarter. Barclays PLC grew its position in ACADIA Pharmaceuticals by 126.2% in the third quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company's stock valued at $4,269,000 after acquiring an additional 154,854 shares during the last quarter. Burney Co. acquired a new position in ACADIA Pharmaceuticals during the fourth quarter worth about $6,953,000. Proficio Capital Partners LLC acquired a new position in ACADIA Pharmaceuticals during the fourth quarter worth about $272,000. Finally, State Street Corp lifted its holdings in shares of ACADIA Pharmaceuticals by 3.0% in the third quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company's stock worth $91,878,000 after acquiring an additional 173,084 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, 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 value of $89,673.37. Following the transaction, the director now directly owns 17,595 shares of the company's stock, valued at approximately $320,756.85. The trade was a 21.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark C. Schneyer sold 3,171 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $17.05, for a total value of $54,065.55. Following the transaction, the executive vice president now owns 56,889 shares in the company, valued at $969,957.45. The trade was a 5.28 % decrease in their ownership of the stock. 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. Company insiders own 28.30% of the company's stock.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ:ACAD traded up $0.47 during trading on Friday, reaching $14.58. The stock had a trading volume of 1,904,307 shares, compared to its average volume of 1,854,084. ACADIA Pharmaceuticals Inc. has a 52 week low of $13.40 and a 52 week high of $20.68. The firm's fifty day moving average is $17.57 and its 200 day moving average is $16.96. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of 18.69 and a beta of 0.54.

Analyst Upgrades and Downgrades

ACAD has been the subject of several research reports. Morgan Stanley reissued an "equal weight" rating and issued a $20.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Friday, March 7th. StockNews.com upgraded ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. 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. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Finally, Guggenheim downgraded ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and dropped their target price for the company from $23.00 to $20.00 in a research report on Friday, January 3rd. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $23.93.

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.