Principal Financial Group Inc. Has $12.54 Million Stock Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Principal Financial Group Inc. increased its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 425.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 754,748 shares of the biopharmaceutical company's stock after acquiring an additional 611,054 shares during the period. Principal Financial Group Inc. owned about 0.45% of ACADIA Pharmaceuticals worth $12,536,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. increased its holdings in ACADIA Pharmaceuticals by 66.9% during the 4th quarter. Victory Capital Management Inc. now owns 162,125 shares of the biopharmaceutical company's stock worth $2,975,000 after purchasing an additional 64,995 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of ACADIA Pharmaceuticals during the fourth quarter valued at approximately $272,000. Raymond James Financial Inc. bought a new stake in ACADIA Pharmaceuticals during the fourth quarter worth $664,000. AlphaQuest LLC raised its position in ACADIA Pharmaceuticals by 283.8% in the 4th quarter. AlphaQuest LLC now owns 13,511 shares of the biopharmaceutical company's stock valued at $248,000 after buying an additional 9,991 shares during the last quarter. Finally, Swiss National Bank lifted its stake in ACADIA Pharmaceuticals by 1.4% during the 4th quarter. Swiss National Bank now owns 212,104 shares of the biopharmaceutical company's stock valued at $3,892,000 after acquiring an additional 2,900 shares in the last quarter. Institutional investors own 96.71% of the company's stock.

ACADIA Pharmaceuticals Price Performance

NASDAQ ACAD opened at $20.98 on Friday. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 4.52 and a beta of 0.64. ACADIA Pharmaceuticals Inc. has a one year low of $13.40 and a one year high of $25.23. The business's fifty day moving average is $20.93 and its 200-day moving average is $18.51.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its quarterly earnings data 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 17.46% and a net margin of 22.97%. The company had revenue of $244.32 million during the quarter, compared to analyst estimates of $239.32 million. During the same quarter last year, the firm posted $0.10 EPS. The firm's revenue for the quarter was up 18.7% on a year-over-year basis. Research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Oppenheimer restated a "market perform" rating and set a $22.00 price objective (up from $19.00) on shares of ACADIA Pharmaceuticals in a research note on Thursday, June 26th. Needham & Company LLC restated a "buy" rating and set a $30.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Thursday, June 26th. JPMorgan Chase & Co. raised their price objective on ACADIA Pharmaceuticals from $26.00 to $30.00 and gave the company an "overweight" rating in a research note on Friday, June 6th. Cantor Fitzgerald upgraded ACADIA Pharmaceuticals to a "strong-buy" rating in a research note on Thursday, June 5th. Finally, Royal Bank Of Canada raised their price objective on ACADIA Pharmaceuticals from $26.00 to $38.00 and gave the company an "outperform" rating in a research note on Monday, June 23rd. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.88.

Insider Buying and Selling

In related news, insider James Kihara sold 4,000 shares of ACADIA Pharmaceuticals stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $22.50, for a total value of $90,000.00. Following the completion of the sale, the insider owned 20,395 shares of the company's stock, valued at approximately $458,887.50. This trade represents a 16.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Laura Brege sold 14,446 shares of ACADIA Pharmaceuticals stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $21.78, for a total value of $314,633.88. Following the completion of the sale, the director directly owned 15,095 shares of the company's stock, valued at approximately $328,769.10. This trade represents a 48.90% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,271 shares of company stock valued at $525,079. 26.50% of the stock is owned by insiders.

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.

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