Panagora Asset Management Inc. Purchases 1,922 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Panagora Asset Management Inc. increased its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACADFree Report) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 644,920 shares of the biopharmaceutical company’s stock after buying an additional 1,922 shares during the period. Panagora Asset Management Inc. owned about 0.39% of ACADIA Pharmaceuticals worth $20,192,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ACAD. EFG Asset Management North America Corp. raised its holdings in shares of ACADIA Pharmaceuticals by 17.8% in the 4th quarter. EFG Asset Management North America Corp. now owns 46,979 shares of the biopharmaceutical company’s stock valued at $1,471,000 after purchasing an additional 7,098 shares in the last quarter. Empire Life Investments Inc. raised its stake in ACADIA Pharmaceuticals by 0.3% in the fourth quarter. Empire Life Investments Inc. now owns 174,815 shares of the biopharmaceutical company’s stock worth $5,473,000 after buying an additional 467 shares in the last quarter. M&G Investment Management Ltd. bought a new position in ACADIA Pharmaceuticals in the fourth quarter worth approximately $10,349,000. Massachusetts Financial Services Co. MA purchased a new stake in ACADIA Pharmaceuticals during the fourth quarter worth $1,896,000. Finally, Principal Financial Group Inc. boosted its position in ACADIA Pharmaceuticals by 23.1% during the 4th quarter. Principal Financial Group Inc. now owns 96,214 shares of the biopharmaceutical company’s stock valued at $3,012,000 after acquiring an additional 18,074 shares in the last quarter. 96.71% of the stock is currently owned by institutional investors.

ACADIA Pharmaceuticals Trading Down 0.4 %

Shares of ACAD stock opened at $14.79 on Friday. ACADIA Pharmaceuticals Inc. has a twelve month low of $14.65 and a twelve month high of $33.99. The stock has a 50 day moving average of $17.46 and a 200 day moving average of $22.85.

ACADIA Pharmaceuticals (NASDAQ:ACADGet Free Report) last posted its earnings results on Wednesday, May 8th. The biopharmaceutical company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.06. The firm had revenue of $205.83 million during the quarter, compared to analyst estimates of $208.31 million. ACADIA Pharmaceuticals had a negative net margin of 0.21% and a negative return on equity of 0.41%. The business’s quarterly revenue was up 73.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.27) EPS. On average, equities research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.57 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Stephen Davis sold 11,427 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total value of $193,573.38. Following the completion of the transaction, the chief executive officer now owns 155,231 shares of the company’s stock, valued at approximately $2,629,613.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Stephen Davis sold 11,427 shares of ACADIA Pharmaceuticals stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total value of $193,573.38. Following the sale, the chief executive officer now owns 155,231 shares in the company, valued at $2,629,613.14. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Brendan Teehan sold 3,477 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total transaction of $58,900.38. Following the completion of the transaction, the chief operating officer now directly owns 42,133 shares in the company, valued at $713,733.02. The disclosure for this sale can be found here. Insiders have sold 89,116 shares of company stock worth $1,625,639 in the last ninety days. Company insiders own 27.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ACAD. TheStreet upgraded ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a research note on Tuesday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $30.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, May 9th. JMP Securities reaffirmed a “market outperform” rating and set a $42.00 target price on shares of ACADIA Pharmaceuticals in a research report on Wednesday, February 7th. Morgan Stanley decreased their price target on ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, March 13th. Finally, StockNews.com upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, January 30th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $28.94.

Get Our Latest Stock Report 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.

Further Reading

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Institutional Ownership by Quarter for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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