DnB Asset Management AS Acquires 3,964 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

DnB Asset Management AS boosted its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 38.7% during the fourth quarter, HoldingsChannel reports. The fund owned 14,202 shares of the biopharmaceutical company’s stock after purchasing an additional 3,964 shares during the quarter. DnB Asset Management AS’s holdings in ACADIA Pharmaceuticals were worth $261,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in shares of ACADIA Pharmaceuticals during the fourth quarter worth $47,000. KBC Group NV lifted its holdings in ACADIA Pharmaceuticals by 67.0% during 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 during the period. Globeflex Capital L P bought a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at about $168,000. Xponance Inc. acquired a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at about $186,000. Finally, Vinva Investment Management Ltd bought a new position in shares of ACADIA Pharmaceuticals during the fourth quarter worth about $187,000. 96.71% of the stock is currently owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Stock Up 1.8 %

NASDAQ ACAD opened at $16.62 on Thursday. ACADIA Pharmaceuticals Inc. has a 52 week low of $14.15 and a 52 week high of $20.68. The business has a 50 day moving average price of $18.26 and a 200-day moving average price of $17.05. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 21.31 and a beta of 0.54.

Analyst Ratings Changes

Several brokerages recently commented on ACAD. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Morgan Stanley reiterated an “equal weight” rating and set a $20.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft began coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They issued a “hold” rating and a $22.00 target price on the stock. HC Wainwright reiterated a “buy” rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.93.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 4,919 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total transaction of $89,673.37. Following the completion of the sale, the director now directly owns 17,595 shares of the company’s stock, valued at approximately $320,756.85. The trade was a 21.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark C. Schneyer sold 3,171 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $17.05, for a total value of $54,065.55. Following the completion of the sale, the executive vice president now directly owns 56,889 shares of the company’s stock, valued at approximately $969,957.45. This trade represents a 5.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,433 shares of company stock worth $187,319. 28.30% of the stock is owned by corporate 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.