ACADIA Pharmaceuticals Inc. $ACAD Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 25.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 658,813 shares of the biopharmaceutical company’s stock after purchasing an additional 133,393 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in ACADIA Pharmaceuticals were worth $17,320,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Geneos Wealth Management Inc. boosted its stake in shares of ACADIA Pharmaceuticals by 113.0% during the 3rd quarter. Geneos Wealth Management Inc. now owns 1,425 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 756 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in ACADIA Pharmaceuticals by 107.0% in the third quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 885 shares in the last quarter. USA Financial Formulas acquired a new position in ACADIA Pharmaceuticals in the third quarter worth about $41,000. GAMMA Investing LLC increased its holdings in ACADIA Pharmaceuticals by 25.8% in the third quarter. GAMMA Investing LLC now owns 3,361 shares of the biopharmaceutical company’s stock valued at $72,000 after buying an additional 690 shares during the last quarter. Finally, iSAM Funds UK Ltd bought a new stake in ACADIA Pharmaceuticals in the third quarter valued at about $93,000. 96.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on ACAD. Bank of America raised ACADIA Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Wednesday, March 25th. Wall Street Zen lowered shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. HC Wainwright reissued a “buy” rating and set a $37.00 target price on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 3rd. Citizens Jmp raised their price target on shares of ACADIA Pharmaceuticals from $34.00 to $35.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 26th. Finally, Stifel Nicolaus decreased their price target on shares of ACADIA Pharmaceuticals from $25.00 to $24.00 and set a “hold” rating for the company in a report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $31.21.

Insiders Place Their Bets

In related news, EVP Jennifer J. Rhodes sold 6,950 shares of the stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $23.38, for a total value of $162,491.00. Following the completion of the transaction, 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. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 26.50% of the stock is owned by insiders.

ACADIA Pharmaceuticals Price Performance

Shares of ACADIA Pharmaceuticals stock opened at $22.20 on Friday. The business’s fifty day moving average price is $22.93 and its two-hundred day moving average price is $23.84. The company has a market capitalization of $3.78 billion, a P/E ratio of 9.69, a PEG ratio of 22.07 and a beta of 0.83. ACADIA Pharmaceuticals Inc. has a 1-year low of $13.40 and a 1-year high of $28.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $1.48. The company had revenue of $298.00 million during the quarter, compared to analysts’ expectations of $292.54 million. ACADIA Pharmaceuticals had a return on equity of 12.49% and a net margin of 36.49%.The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.86 earnings per share. On average, research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

ACADIA Pharmaceuticals Profile

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.