ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets lifted its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 29.0% during the fourth quarter, Holdings Channel reports. The firm owned 288,471 shares of the biopharmaceutical company’s stock after buying an additional 64,853 shares during the period. BNP Paribas Financial Markets’ holdings in ACADIA Pharmaceuticals were worth $5,293,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. R Squared Ltd acquired a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $47,000. KBC Group NV lifted its holdings in shares of ACADIA Pharmaceuticals by 67.0% in the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock valued at $93,000 after buying an additional 2,044 shares during the period. Globeflex Capital L P bought a new position in ACADIA Pharmaceuticals during the fourth quarter valued at about $168,000. Xponance Inc. bought a new stake in ACADIA Pharmaceuticals in the fourth quarter worth about $186,000. Finally, Vinva Investment Management Ltd bought a new position in shares of ACADIA Pharmaceuticals during the 4th quarter valued at about $187,000. 96.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ACAD shares. UBS Group reduced their target price on ACADIA Pharmaceuticals from $25.00 to $22.00 and set a “buy” rating for the company in a report on Monday, April 28th. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. StockNews.com lowered ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday. Needham & Company LLC reiterated a “buy” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Tuesday, April 8th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $20.00 price target on shares of ACADIA Pharmaceuticals in a research report on Friday, March 7th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.70.

Insider Transactions at ACADIA Pharmaceuticals

In other news, EVP Mark C. Schneyer sold 3,171 shares of the stock in a transaction 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 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Elizabeth A. Garofalo sold 4,919 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 17,595 shares in the company, valued at $320,756.85. This represents a 21.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,994 shares of company stock worth $313,131 in the last quarter. 26.50% of the stock is owned by company insiders.

ACADIA Pharmaceuticals Trading Down 1.8%

NASDAQ:ACAD opened at $17.20 on Wednesday. The stock has a market capitalization of $2.88 billion, a P/E ratio of 22.05 and a beta of 0.47. ACADIA Pharmaceuticals Inc. has a 1 year low of $13.40 and a 1 year high of $20.68. The firm has a 50 day moving average of $15.81 and a 200-day moving average of $17.00.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. The business had revenue of $244.32 million for the quarter, compared to analyst estimates of $239.32 million. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.10 earnings per share. As a group, analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

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.