1,392,618 Shares in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Bought by Norges Bank

Norges Bank acquired a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,392,618 shares of the biopharmaceutical company’s stock, valued at approximately $25,555,000.

Other hedge funds have also bought and sold shares of the company. SG Americas Securities LLC boosted its stake in shares of 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 during the period. Great Lakes Advisors LLC purchased a new position in shares of ACADIA Pharmaceuticals during the fourth quarter valued at approximately $9,909,000. Burney Co. bought a new position in shares of ACADIA Pharmaceuticals during the fourth quarter valued at approximately $6,953,000. JPMorgan Chase & Co. grew its stake in shares of ACADIA Pharmaceuticals by 61.7% during the fourth quarter. JPMorgan Chase & Co. now owns 713,360 shares of the biopharmaceutical company’s stock valued at $13,090,000 after buying an additional 272,236 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter worth approximately $4,660,000. Institutional investors own 96.71% of the company’s stock.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, Director Elizabeth A. Garofalo sold 4,919 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total value of $89,673.37. Following the transaction, the director now owns 17,595 shares of the company’s stock, valued at $320,756.85. The trade was a 21.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark C. Schneyer sold 3,171 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $17.05, for a total transaction of $54,065.55. Following the transaction, the executive vice president now owns 56,889 shares of the company’s stock, valued at approximately $969,957.45. This trade represents a 5.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,433 shares of company stock worth $187,319 over the last quarter. Insiders own 28.30% of the company’s stock.

ACADIA Pharmaceuticals Trading Down 4.6 %

ACAD opened at $15.38 on Monday. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 19.72 and a beta of 0.54. ACADIA Pharmaceuticals Inc. has a 12 month low of $14.15 and a 12 month high of $20.68. The stock has a fifty day moving average price of $18.14 and a 200-day moving average price of $17.05.

Wall Street Analyst Weigh In

ACAD has been the topic of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Guggenheim cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their price target for the stock from $23.00 to $20.00 in a report on Friday, January 3rd. Needham & Company LLC reiterated a “buy” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a 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. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $23.93.

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.