Nordea Investment Management AB Decreases Stake in ACADIA Pharmaceuticals Inc. $ACAD

Nordea Investment Management AB lowered its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 15.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 237,645 shares of the biopharmaceutical company’s stock after selling 42,663 shares during the quarter. Nordea Investment Management AB’s holdings in ACADIA Pharmaceuticals were worth $6,347,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Geneos Wealth Management Inc. increased its position in shares of ACADIA Pharmaceuticals by 113.0% during the third quarter. Geneos Wealth Management Inc. now owns 1,425 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 756 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in ACADIA Pharmaceuticals by 107.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 885 shares during the period. USA Financial Formulas bought a new position in ACADIA Pharmaceuticals in the 3rd quarter valued at $41,000. GAMMA Investing LLC increased its position in shares of ACADIA Pharmaceuticals by 25.8% during the 3rd quarter. GAMMA Investing LLC now owns 3,361 shares of the biopharmaceutical company’s stock valued at $72,000 after purchasing an additional 690 shares during the last quarter. Finally, iSAM Funds UK Ltd purchased a new stake in shares of ACADIA Pharmaceuticals during the 3rd quarter valued at $93,000. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, EVP Jennifer J. Rhodes sold 6,950 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $23.38, for a total value of $162,491.00. Following the sale, the executive vice president owned 7,609 shares of the company’s stock, valued at $177,898.42. The trade was a 47.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 26.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ACAD. Citizens Jmp lifted their target price on ACADIA Pharmaceuticals from $34.00 to $35.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 26th. Mizuho upgraded shares of ACADIA Pharmaceuticals from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $29.00 to $35.00 in a report on Monday, February 23rd. Piper Sandler set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Tuesday, December 16th. Wall Street Zen cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Needham & Company LLC reissued a “buy” rating and set a $34.00 target price on shares of ACADIA Pharmaceuticals in a research report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $31.21.

ACADIA Pharmaceuticals Stock Performance

ACAD stock opened at $21.47 on Friday. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 9.38, a PEG ratio of 21.88 and a beta of 0.66. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $13.40 and a fifty-two week high of $28.35. The stock has a fifty day moving average of $23.50 and a 200-day moving average of $23.95.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings data on Thursday, February 26th. The biopharmaceutical company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $0.12 by $1.48. The company had revenue of $298.00 million during the quarter, compared to analyst estimates of $292.54 million. ACADIA Pharmaceuticals had a return on equity of 12.49% and a net margin of 36.49%.The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.86 EPS. Equities analysts predict that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current year.

ACADIA Pharmaceuticals Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.