Candriam S.C.A. Buys New Stake in ACADIA Pharmaceuticals Inc. $ACAD

Candriam S.C.A. bought a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 537,601 shares of the biopharmaceutical company’s stock, valued at approximately $11,472,000. Candriam S.C.A. owned about 0.32% of ACADIA Pharmaceuticals at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ACAD. Marshall Wace LLP lifted its position in shares of ACADIA Pharmaceuticals by 496.2% during the 2nd quarter. Marshall Wace LLP now owns 1,969,711 shares of the biopharmaceutical company’s stock worth $42,487,000 after purchasing an additional 1,639,315 shares during the last quarter. Norges Bank bought a new position in ACADIA Pharmaceuticals in the 2nd quarter worth approximately $31,679,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of ACADIA Pharmaceuticals during the second quarter worth approximately $13,024,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of ACADIA Pharmaceuticals during the second quarter worth approximately $7,257,000. Finally, Prudential Financial Inc. boosted its position in shares of ACADIA Pharmaceuticals by 93.3% in the second quarter. Prudential Financial Inc. now owns 685,477 shares of the biopharmaceutical company’s stock valued at $14,786,000 after acquiring an additional 330,876 shares during the period. 96.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 10,262 shares of the stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $23.69, for a total transaction of $243,106.78. Following the completion of the transaction, the executive vice president directly owned 53,338 shares in the company, valued at $1,263,577.22. This represents a 16.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jennifer J. Rhodes sold 6,950 shares of the business’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $23.38, for a total transaction of $162,491.00. Following the completion of the sale, the executive vice president owned 7,609 shares in the company, valued at $177,898.42. This represents a 47.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 21,296 shares of company stock worth $502,348 over the last three months. Company insiders own 28.30% of the company’s stock.

ACADIA Pharmaceuticals Price Performance

Shares of ACADIA Pharmaceuticals stock opened at $22.70 on Wednesday. ACADIA Pharmaceuticals Inc. has a 52-week low of $13.40 and a 52-week high of $28.35. The firm has a market capitalization of $3.84 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 8.15 and a beta of 0.66. The company’s fifty day moving average price is $26.38 and its two-hundred day moving average price is $24.48.

Analyst Ratings Changes

ACAD has been the topic of a number of research reports. Mizuho boosted their target price on shares of ACADIA Pharmaceuticals from $24.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 2nd. Royal Bank Of Canada dropped their price objective on shares of ACADIA Pharmaceuticals from $35.00 to $31.00 and set an “outperform” rating on the stock in a report on Tuesday, February 3rd. HC Wainwright reaffirmed a “buy” rating and set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 3rd. UBS Group increased their target price on shares of ACADIA Pharmaceuticals from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Finally, JPMorgan Chase & Co. lowered their price target on ACADIA Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a research note on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, ACADIA Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $31.30.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.