Nordea Investment Management AB Sells 42,663 Shares of ACADIA Pharmaceuticals Inc. $ACAD

Nordea Investment Management AB trimmed its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 15.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 237,645 shares of the biopharmaceutical company’s stock after selling 42,663 shares during the period. Nordea Investment Management AB owned approximately 0.14% of ACADIA Pharmaceuticals worth $6,347,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of ACAD. JPMorgan Chase & Co. increased its stake in shares of ACADIA Pharmaceuticals by 4.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 325,921 shares of the biopharmaceutical company’s stock valued at $6,955,000 after acquiring an additional 13,984 shares in the last quarter. CIBC Bancorp USA Inc. bought a new position in ACADIA Pharmaceuticals during the third quarter worth $283,000. Danske Bank A S bought a new position in ACADIA Pharmaceuticals during the third quarter worth $1,002,000. CANADA LIFE ASSURANCE Co grew its holdings in ACADIA Pharmaceuticals by 1.8% in the third quarter. CANADA LIFE ASSURANCE Co now owns 123,246 shares of the biopharmaceutical company’s stock worth $2,628,000 after purchasing an additional 2,131 shares during the period. Finally, Virtus Advisers LLC grew its holdings in ACADIA Pharmaceuticals by 1,283.1% in the third quarter. Virtus Advisers LLC now owns 42,974 shares of the biopharmaceutical company’s stock worth $917,000 after purchasing an additional 39,867 shares during the period. Institutional investors and hedge funds own 96.71% of the company’s stock.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, EVP Jennifer J. Rhodes sold 6,950 shares of ACADIA Pharmaceuticals 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 transaction, the executive vice president directly owned 7,609 shares of the company’s stock, valued at $177,898.42. The trade was a 47.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 26.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ACAD. Oppenheimer reiterated a “market perform” rating on shares of ACADIA Pharmaceuticals in a report on Friday, February 6th. UBS Group boosted their target price on ACADIA Pharmaceuticals from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Stifel Nicolaus dropped their price target on ACADIA Pharmaceuticals from $25.00 to $24.00 and set a “hold” rating on the stock in a research note on Thursday, February 26th. TD Cowen increased their price target on ACADIA Pharmaceuticals from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Finally, Mizuho raised ACADIA Pharmaceuticals from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $29.00 to $35.00 in a research note on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $31.21.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ ACAD opened at $21.47 on Friday. The company has a 50-day moving average price of $23.50 and a 200-day moving average price of $23.95. The stock has a market capitalization of $3.66 billion, a P/E ratio of 9.38, a P/E/G ratio of 21.88 and a beta of 0.66. ACADIA Pharmaceuticals Inc. has a 1 year low of $13.40 and a 1 year high of $28.35.

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

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.