Prudential Financial Inc. Buys New Shares in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Prudential Financial Inc. acquired a new stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 253,961 shares of the biopharmaceutical company's stock, valued at approximately $4,660,000. Prudential Financial Inc. owned 0.15% of ACADIA Pharmaceuticals at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. KBC Group NV increased its stake in ACADIA Pharmaceuticals by 67.0% in the 4th quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company's stock worth $93,000 after buying an additional 2,044 shares in the last quarter. R Squared Ltd purchased a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth about $47,000. Swiss National Bank raised its stake in ACADIA Pharmaceuticals by 1.4% during the 4th quarter. Swiss National Bank now owns 212,104 shares of the biopharmaceutical company's stock valued at $3,892,000 after purchasing an additional 2,900 shares during the period. Diversified Trust Co lifted its holdings in ACADIA Pharmaceuticals by 9.8% in the 4th quarter. Diversified Trust Co now owns 35,774 shares of the biopharmaceutical company's stock worth $656,000 after purchasing an additional 3,187 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its stake in ACADIA Pharmaceuticals by 10.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 35,281 shares of the biopharmaceutical company's stock worth $647,000 after purchasing an additional 3,378 shares during the period. Hedge funds and other institutional investors own 96.71% of the company's stock.

ACADIA Pharmaceuticals Price Performance

Shares of ACADIA Pharmaceuticals stock traded down $0.74 during trading on Friday, hitting $15.38. The stock had a trading volume of 2,155,317 shares, compared to its average volume of 1,837,988. ACADIA Pharmaceuticals Inc. has a 12 month low of $14.15 and a 12 month high of $20.68. The firm's fifty day simple moving average is $18.14 and its 200-day simple moving average is $17.05. The stock has a market cap of $2.57 billion, a PE ratio of 19.72 and a beta of 0.54.

Analyst Ratings Changes

ACAD has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft began coverage on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a "hold" rating and a $22.00 price objective on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Guggenheim downgraded shares of ACADIA Pharmaceuticals from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $23.00 to $20.00 in a report on Friday, January 3rd. StockNews.com raised ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday, March 8th. Finally, Needham & Company LLC reissued a "buy" rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $23.93.

Insider Transactions at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 3,171 shares of the company's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $17.05, for a total value of $54,065.55. Following the transaction, the executive vice president now directly owns 56,889 shares in the company, valued at $969,957.45. This represents a 5.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Elizabeth A. Garofalo sold 4,919 shares of ACADIA Pharmaceuticals 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 directly owns 17,595 shares of the company's stock, valued at approximately $320,756.85. This trade represents a 21.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,433 shares of company stock worth $187,319. 28.30% of the stock is currently owned by company insiders.

About ACADIA Pharmaceuticals

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.