Bank of America Corp DE Increases Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Bank of America Corp DE raised its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 41.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 680,853 shares of the biopharmaceutical company's stock after purchasing an additional 199,504 shares during the period. Bank of America Corp DE owned 0.41% of ACADIA Pharmaceuticals worth $12,494,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. R Squared Ltd bought a new position in ACADIA Pharmaceuticals during the fourth quarter valued at approximately $47,000. KBC Group NV boosted its position in shares of ACADIA Pharmaceuticals by 67.0% during the 4th quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company's stock valued at $93,000 after acquiring an additional 2,044 shares during the last quarter. Globeflex Capital L P purchased a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at $168,000. Xponance Inc. purchased a new position in ACADIA Pharmaceuticals in the fourth quarter worth about $186,000. Finally, Vinva Investment Management Ltd bought a new stake in ACADIA Pharmaceuticals during the fourth quarter worth approximately $187,000. Hedge funds and other institutional investors own 96.71% of the company's stock.

Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, Director Elizabeth A. Garofalo sold 4,919 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were 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 owns 17,595 shares of the company's stock, valued at $320,756.85. This represents a 21.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark C. Schneyer sold 3,171 shares of the firm's 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 completion of the sale, the executive vice president now directly owns 56,889 shares of the company's stock, valued at $969,957.45. The trade was a 5.28% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,746 shares of company stock valued at $428,221. 28.30% of the stock is currently owned by corporate insiders.

ACADIA Pharmaceuticals Stock Down 0.1%

Shares of ACAD stock traded down $0.03 on Wednesday, hitting $22.16. The stock had a trading volume of 178,486 shares, compared to its average volume of 2,357,695. ACADIA Pharmaceuticals Inc. has a one year low of $13.40 and a one year high of $25.23. The business has a 50 day moving average price of $16.57 and a 200 day moving average price of $17.39. The company has a market cap of $3.71 billion, a PE ratio of 28.46 and a beta of 0.47.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its quarterly 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. The firm had revenue of $244.32 million during the quarter, compared to analysts' expectations of $239.32 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The company's revenue was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 EPS. Equities research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current year.

Analyst Upgrades and Downgrades

ACAD has been the subject of a number of recent research reports. Needham & Company LLC lifted their target price on ACADIA Pharmaceuticals from $27.00 to $30.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Deutsche Bank Aktiengesellschaft raised shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating and raised their price objective for the stock from $20.00 to $35.00 in a research note on Wednesday, May 21st. Wall Street Zen raised ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. UBS Group decreased their price target on ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Finally, Robert W. Baird upped their price objective on ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $26.83.

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.