Nordea Investment Management AB Has $4.95 Million Stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Nordea Investment Management AB grew its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 264,031 shares of the biopharmaceutical company’s stock after acquiring an additional 3,516 shares during the quarter. Nordea Investment Management AB’s holdings in ACADIA Pharmaceuticals were worth $4,952,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Commonwealth Equity Services LLC grew its holdings in shares of ACADIA Pharmaceuticals by 5.6% during the second quarter. Commonwealth Equity Services LLC now owns 14,770 shares of the biopharmaceutical company’s stock worth $240,000 after purchasing an additional 778 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of ACADIA Pharmaceuticals by 43.2% during the second quarter. Natixis Advisors LLC now owns 25,527 shares of the biopharmaceutical company’s stock worth $415,000 after purchasing an additional 7,697 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of ACADIA Pharmaceuticals by 1.2% during the second quarter. Rhumbline Advisers now owns 186,500 shares of the biopharmaceutical company’s stock worth $3,031,000 after purchasing an additional 2,121 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of ACADIA Pharmaceuticals by 18.4% during the second quarter. Victory Capital Management Inc. now owns 94,422 shares of the biopharmaceutical company’s stock worth $1,534,000 after purchasing an additional 14,700 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of ACADIA Pharmaceuticals by 2.2% during the second quarter. Arizona State Retirement System now owns 29,983 shares of the biopharmaceutical company’s stock worth $487,000 after purchasing an additional 655 shares during the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD opened at $17.26 on Friday. ACADIA Pharmaceuticals Inc. has a 52-week low of $14.15 and a 52-week high of $29.30. The business’s 50 day moving average price is $17.03 and its two-hundred day moving average price is $16.47. The firm has a market cap of $2.87 billion, a PE ratio of 22.13 and a beta of 0.37.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.06. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The firm had revenue of $250.40 million for the quarter, compared to analyst estimates of $248.83 million. During the same period in the previous year, the firm earned ($0.40) earnings per share. The company’s revenue was up 18.3% compared to the same quarter last year. Research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, insider James Kihara sold 4,073 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $68,467.13. Following the transaction, the insider now directly owns 19,863 shares of the company’s stock, valued at $333,897.03. This represents a 17.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark C. Schneyer sold 10,259 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $172,453.79. Following the transaction, the chief financial officer now directly owns 53,302 shares in the company, valued at $896,006.62. The trade was a 16.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,661 shares of company stock valued at $414,551. 28.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ACAD has been the topic of several research reports. Raymond James restated a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Thursday, October 10th. Guggenheim cut ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $23.00 to $20.00 in a report on Friday, January 3rd. Needham & Company LLC restated a “buy” rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. HC Wainwright reiterated a “buy” rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Finally, StockNews.com cut ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $25.25.

ACADIA Pharmaceuticals Company 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.