Norges Bank Buys Shares of 1,392,618 ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Norges Bank purchased a new position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,392,618 shares of the biopharmaceutical company’s stock, valued at approximately $25,555,000. Norges Bank owned about 0.84% of ACADIA Pharmaceuticals at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ACAD. Vanguard Group Inc. lifted its holdings in ACADIA Pharmaceuticals by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 13,947,640 shares of the biopharmaceutical company’s stock valued at $255,939,000 after acquiring an additional 104,444 shares during the period. State Street Corp increased its position in shares of ACADIA Pharmaceuticals by 3.0% during the 3rd quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company’s stock valued at $91,878,000 after purchasing an additional 173,084 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of ACADIA Pharmaceuticals by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,875,540 shares of the biopharmaceutical company’s stock worth $44,234,000 after purchasing an additional 30,826 shares during the period. SG Americas Securities LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 380.3% in the fourth 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. Finally, JPMorgan Chase & Co. grew its position in ACADIA Pharmaceuticals by 61.7% during the fourth quarter. JPMorgan Chase & Co. now owns 713,360 shares of the biopharmaceutical company’s stock valued at $13,090,000 after buying an additional 272,236 shares during the period. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 4,919 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total value of $89,673.37. Following the sale, the director now owns 17,595 shares of the company’s stock, valued at $320,756.85. The trade was a 21.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Mark C. Schneyer sold 3,171 shares of the stock in a transaction that occurred on 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 owns 56,889 shares of the company’s stock, valued at $969,957.45. This represents a 5.28 % 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 valued at $187,319. 28.30% of the stock is currently owned by insiders.

ACADIA Pharmaceuticals Stock Down 4.6 %

Shares of ACAD stock opened at $15.38 on Monday. The company’s fifty day simple moving average is $18.14 and its two-hundred day simple moving average is $17.05. ACADIA Pharmaceuticals Inc. has a 52 week low of $14.15 and a 52 week high of $20.68. The stock has a market cap of $2.57 billion, a P/E ratio of 19.72 and a beta of 0.54.

Wall Street Analysts Forecast Growth

ACAD has been the topic of several recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Guggenheim cut ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $23.00 to $20.00 in a report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft initiated coverage on ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They set a “hold” rating and a $22.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $20.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Friday, March 7th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, ACADIA Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $23.93.

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.