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

Principal Financial Group Inc. grew its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 10.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 143,694 shares of the biopharmaceutical company’s stock after buying an additional 14,143 shares during the quarter. Principal Financial Group Inc. owned 0.09% of ACADIA Pharmaceuticals worth $2,637,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. SG Americas Securities LLC raised its position in 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 during the last quarter. Barclays PLC raised its position in ACADIA Pharmaceuticals by 126.2% during the 3rd quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company’s stock worth $4,269,000 after buying an additional 154,854 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in ACADIA Pharmaceuticals during the 3rd quarter worth $483,000. Burney Co. purchased a new position in ACADIA Pharmaceuticals during the 4th quarter worth $6,953,000. Finally, BNP Paribas Financial Markets raised its position in ACADIA Pharmaceuticals by 259.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 223,618 shares of the biopharmaceutical company’s stock worth $3,439,000 after buying an additional 161,331 shares during the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ACAD shares. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. StockNews.com cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Finally, Guggenheim cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $23.00 to $20.00 in a research note on Friday, January 3rd. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

ACADIA Pharmaceuticals Trading Up 0.6 %

NASDAQ:ACAD opened at $18.26 on Wednesday. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 23.41 and a beta of 0.37. The company’s 50-day moving average is $18.44 and its two-hundred day moving average is $16.88. ACADIA Pharmaceuticals Inc. has a 12-month low of $14.15 and a 12-month high of $24.27.

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.