Principal Financial Group Inc. Increases Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Principal Financial Group Inc. increased its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 67.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 129,551 shares of the biopharmaceutical company's stock after buying an additional 52,340 shares during the quarter. Principal Financial Group Inc. owned approximately 0.08% of ACADIA Pharmaceuticals worth $1,992,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Park Place Capital Corp acquired a new position in shares of ACADIA Pharmaceuticals in the third quarter valued at approximately $25,000. Values First Advisors Inc. acquired a new position in ACADIA Pharmaceuticals in the 3rd quarter valued at $27,000. Quest Partners LLC increased its position in ACADIA Pharmaceuticals by 42.3% during the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company's stock worth $54,000 after buying an additional 1,047 shares during the period. Stonepine Capital Management LLC acquired a new stake in shares of ACADIA Pharmaceuticals during the second quarter worth $81,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of ACADIA Pharmaceuticals by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company's stock valued at $94,000 after acquiring an additional 1,066 shares during the period. 96.71% of the stock is owned by institutional investors.

Insider Transactions at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 10,329 shares of the firm's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $173,630.49. Following the transaction, the chief operating officer now directly owns 62,105 shares in the company, valued at approximately $1,043,985.05. This trade represents a 14.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark C. Schneyer sold 10,259 shares of the company's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $172,453.79. Following the completion of the sale, the chief financial officer now owns 53,302 shares of the company's stock, valued at approximately $896,006.62. The trade was a 16.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,661 shares of company stock valued at $414,551 over the last three months. Corporate insiders own 28.30% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. HC Wainwright reaffirmed a "buy" rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Needham & Company LLC reiterated a "buy" rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. StockNews.com lowered shares of ACADIA Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Thursday, November 14th. Guggenheim downgraded shares of ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and cut their price target for the stock from $23.00 to $20.00 in a report on Friday. Finally, Raymond James reissued a "market perform" rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 10th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $25.25.

ACADIA Pharmaceuticals Stock Down 1.3 %

NASDAQ:ACAD traded down $0.25 on Friday, hitting $18.41. The stock had a trading volume of 7,042,699 shares, compared to its average volume of 18,932,898. ACADIA Pharmaceuticals Inc. has a 52 week low of $14.15 and a 52 week high of $31.10. The business's fifty day moving average is $16.81 and its 200 day moving average is $16.41. The company has a market cap of $3.06 billion, a PE ratio of 23.60 and a beta of 0.37.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating 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 business had revenue of $250.40 million during the quarter, compared to the consensus estimate of $248.83 million. During the same quarter last year, the firm posted ($0.40) EPS. ACADIA Pharmaceuticals's revenue was up 18.3% compared to the same quarter last year. Equities analysts predict that ACADIA Pharmaceuticals Inc. will post 0.73 earnings per share for the current fiscal year.

ACADIA Pharmaceuticals 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.