ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Position Increased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 17.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,099 shares of the biopharmaceutical company’s stock after buying an additional 22,008 shares during the period. Allspring Global Investments Holdings LLC owned 0.09% of ACADIA Pharmaceuticals worth $4,606,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ACAD. Lazard Asset Management LLC grew its position in shares of ACADIA Pharmaceuticals by 35.8% in the second quarter. Lazard Asset Management LLC now owns 4,125 shares of the biopharmaceutical company’s stock valued at $98,000 after purchasing an additional 1,088 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of ACADIA Pharmaceuticals by 97.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 4,202 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 2,070 shares during the last quarter. State of Wyoming acquired a new stake in ACADIA Pharmaceuticals during the second quarter worth about $111,000. Point72 Hong Kong Ltd grew its position in ACADIA Pharmaceuticals by 664.7% during the first quarter. Point72 Hong Kong Ltd now owns 6,003 shares of the biopharmaceutical company’s stock worth $145,000 after buying an additional 5,218 shares in the last quarter. Finally, Legato Capital Management LLC acquired a new stake in ACADIA Pharmaceuticals during the fourth quarter worth about $206,000. 96.71% of the stock is currently owned by institutional investors.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD stock opened at $16.82 on Friday. The firm’s 50-day moving average is $20.84 and its 200-day moving average is $23.72. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of -44.26 and a beta of 0.37. ACADIA Pharmaceuticals Inc. has a 52-week low of $16.60 and a 52-week high of $33.99.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Tuesday, February 27th. The biopharmaceutical company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). The firm had revenue of $231.04 million during the quarter, compared to the consensus estimate of $223.79 million. ACADIA Pharmaceuticals had a negative net margin of 8.44% and a negative return on equity of 15.67%. The firm’s revenue for the quarter was up 69.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.26) earnings per share. Sell-side analysts predict that ACADIA Pharmaceuticals Inc. will post 0.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. TheStreet raised ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a report on Tuesday, February 27th. HC Wainwright reiterated a “buy” rating and issued a $33.00 target price on shares of ACADIA Pharmaceuticals in a research note on Wednesday, February 28th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $37.00 target price on shares of ACADIA Pharmaceuticals in a research note on Wednesday, April 10th. Royal Bank of Canada dropped their price objective on shares of ACADIA Pharmaceuticals from $36.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. lowered their target price on shares of ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating for the company in a report on Monday, March 25th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.82.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 26,574 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $17.87, for a total value of $474,877.38. Following the transaction, the chief executive officer now directly owns 144,267 shares of the company’s stock, valued at approximately $2,578,051.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other ACADIA Pharmaceuticals news, CFO Mark C. Schneyer sold 5,434 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $17.90, for a total transaction of $97,268.60. Following the transaction, the chief financial officer now owns 26,183 shares in the company, valued at approximately $468,675.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Stephen Davis sold 26,574 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $17.87, for a total transaction of $474,877.38. Following the sale, the chief executive officer now owns 144,267 shares in the company, valued at approximately $2,578,051.29. The disclosure for this sale can be found here. Insiders have sold a total of 69,383 shares of company stock valued at $1,291,362 in the last three months. 27.50% of the stock is currently owned by company 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.