BNP Paribas Financial Markets Raises Stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

BNP Paribas Financial Markets lifted its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 29.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 288,471 shares of the biopharmaceutical company's stock after acquiring an additional 64,853 shares during the period. BNP Paribas Financial Markets owned approximately 0.17% of ACADIA Pharmaceuticals worth $5,293,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Summit Investment Advisors Inc. grew its stake in shares of ACADIA Pharmaceuticals by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 12,519 shares of the biopharmaceutical company's stock worth $230,000 after acquiring an additional 795 shares during the last quarter. Arete Wealth Advisors LLC boosted its position in ACADIA Pharmaceuticals by 15.9% in the fourth quarter. Arete Wealth Advisors LLC now owns 13,700 shares of the biopharmaceutical company's stock valued at $251,000 after buying an additional 1,875 shares during the last quarter. KBC Group NV boosted its position in 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 last quarter. R Squared Ltd purchased a new stake in ACADIA Pharmaceuticals in the fourth quarter valued at approximately $47,000. Finally, MetLife Investment Management LLC boosted its position in ACADIA Pharmaceuticals by 3.8% in the fourth quarter. MetLife Investment Management LLC now owns 73,048 shares of the biopharmaceutical company's stock valued at $1,340,000 after buying an additional 2,669 shares during the last quarter. Hedge funds and other institutional investors own 96.71% of the company's stock.

ACADIA Pharmaceuticals Stock Up 26.5%

Shares of ACAD stock traded up $4.66 during trading hours on Friday, hitting $22.26. 17,783,924 shares of the company's stock were exchanged, compared to its average volume of 1,917,188. The firm has a market cap of $3.72 billion, a P/E ratio of 28.54 and a beta of 0.47. The firm has a 50 day moving average of $15.91 and a two-hundred day moving average of $17.07. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $13.40 and a fifty-two week high of $25.23.

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

Wall Street Analyst Weigh In

ACAD has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on ACADIA Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "hold" rating and a $22.00 target price on the stock. UBS Group dropped their target price on ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Needham & Company LLC reiterated a "buy" rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Tuesday, April 8th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Finally, HC Wainwright reissued a "buy" rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $24.70.

Insider Activity at ACADIA Pharmaceuticals

In related news, Director Elizabeth A. Garofalo sold 4,919 shares of the 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 directly owns 17,595 shares of the company's stock, valued at approximately $320,756.85. This represents a 21.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark C. Schneyer sold 3,171 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 56,889 shares of the company's stock, valued at approximately $969,957.45. This represents a 5.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,994 shares of company stock valued at $313,131. 26.50% of the stock is owned by insiders.

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.