Ameriprise Financial Inc. Acquires 120,996 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Ameriprise Financial Inc. increased its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 15.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 884,870 shares of the biopharmaceutical company's stock after buying an additional 120,996 shares during the quarter. Ameriprise Financial Inc. owned 0.53% of ACADIA Pharmaceuticals worth $16,237,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ACAD. SG Americas Securities LLC boosted 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 acquiring an additional 1,966,607 shares during the last quarter. Norges Bank acquired a new position in ACADIA Pharmaceuticals during the fourth quarter worth $25,555,000. Renaissance Technologies LLC boosted its holdings in ACADIA Pharmaceuticals by 204.2% during the fourth quarter. Renaissance Technologies LLC now owns 1,226,533 shares of the biopharmaceutical company's stock worth $22,507,000 after purchasing an additional 823,333 shares during the last quarter. First Trust Advisors LP grew its position in ACADIA Pharmaceuticals by 27.0% in the fourth quarter. First Trust Advisors LP now owns 2,700,125 shares of the biopharmaceutical company's stock valued at $49,547,000 after purchasing an additional 574,251 shares in the last quarter. Finally, Great Lakes Advisors LLC acquired a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at $9,909,000. Institutional investors and hedge funds own 96.71% of the company's stock.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 2,000 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $25.00, for a total transaction of $50,000.00. Following the transaction, the executive vice president now owns 62,130 shares in the company, valued at $1,553,250. This trade represents a 3.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Elizabeth A. Garofalo sold 4,919 shares of ACADIA Pharmaceuticals 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 sale, the director now directly owns 17,595 shares of the company's stock, valued at $320,756.85. This represents a 21.85% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,994 shares of company stock worth $453,131. Insiders own 26.50% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ACAD. Morgan Stanley increased their price objective on shares of ACADIA Pharmaceuticals from $20.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Tuesday. BMO Capital Markets raised their price target on ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the company an "outperform" rating in a research note on Monday. Robert W. Baird boosted their price target on ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the stock an "outperform" rating in a research report on Monday. StockNews.com raised ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Wednesday. Finally, Needham & Company LLC raised their target price on shares of ACADIA Pharmaceuticals from $27.00 to $30.00 and gave the company a "buy" rating in a research note on Monday. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $26.83.

ACADIA Pharmaceuticals Stock Performance

ACAD traded down $0.33 during trading hours on Thursday, reaching $21.52. The company's stock had a trading volume of 142,193 shares, compared to its average volume of 1,930,123. The company's 50-day moving average is $16.20 and its 200-day moving average is $17.22. ACADIA Pharmaceuticals Inc. has a 52 week low of $13.40 and a 52 week high of $25.23. The firm has a market cap of $3.60 billion, a PE ratio of 27.58 and a beta of 0.47.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. The firm had revenue of $244.32 million for the quarter, compared to the consensus estimate of $239.32 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The company's quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 earnings per share. Equities analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

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.