Prudential Financial Inc. Makes New Investment in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Prudential Financial Inc. acquired a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 253,961 shares of the biopharmaceutical company’s stock, valued at approximately $4,660,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased 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 purchasing an additional 1,966,607 shares in the last quarter. Barclays PLC increased its position in shares of ACADIA Pharmaceuticals by 126.2% in the third quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company’s stock worth $4,269,000 after acquiring an additional 154,854 shares in the last quarter. Burney Co. purchased a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $6,953,000. Proficio Capital Partners LLC acquired a new position in shares of ACADIA Pharmaceuticals during the 4th quarter valued at $272,000. Finally, BNP Paribas Financial Markets increased its holdings in ACADIA Pharmaceuticals by 259.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 223,618 shares of the biopharmaceutical company’s stock valued at $3,439,000 after purchasing an additional 161,331 shares in the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ACAD. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Morgan Stanley reiterated an “equal weight” rating and issued a $20.00 price objective on shares of ACADIA Pharmaceuticals in a report on Friday, March 7th. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They set a “hold” rating and a $22.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.93.

ACADIA Pharmaceuticals Stock Down 2.7 %

Shares of ACAD stock opened at $16.61 on Tuesday. The business has a 50 day moving average of $18.32 and a two-hundred day moving average of $17.06. The company has a market cap of $2.77 billion, a P/E ratio of 21.30 and a beta of 0.43. ACADIA Pharmaceuticals Inc. has a 52 week low of $14.15 and a 52 week high of $20.68.

Insider Activity at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, 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 sale, the executive vice president now directly owns 56,889 shares in the company, valued at approximately $969,957.45. This trade represents a 5.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Elizabeth A. Garofalo sold 4,919 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 17,595 shares of the company’s stock, valued at approximately $320,756.85. This trade represents a 21.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,433 shares of company stock worth $187,319 in the last 90 days. 28.30% 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.