ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC raised its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 204.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,226,533 shares of the biopharmaceutical company’s stock after purchasing an additional 823,333 shares during the quarter. Renaissance Technologies LLC owned 0.74% of ACADIA Pharmaceuticals worth $22,507,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ACAD. State Street Corp lifted its position in ACADIA Pharmaceuticals by 3.0% in the third quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company’s stock valued at $91,878,000 after buying an additional 173,084 shares during the last quarter. Barclays PLC raised its stake in shares of ACADIA Pharmaceuticals by 126.2% in the 3rd quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company’s stock valued at $4,269,000 after acquiring an additional 154,854 shares during the period. Geode Capital Management LLC lifted its holdings in shares of ACADIA Pharmaceuticals by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,875,540 shares of the biopharmaceutical company’s stock worth $44,234,000 after acquiring an additional 30,826 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of ACADIA Pharmaceuticals by 67.8% during the 3rd quarter. Principal Financial Group Inc. now owns 129,551 shares of the biopharmaceutical company’s stock worth $1,992,000 after purchasing an additional 52,340 shares during the period. Finally, Nordea Investment Management AB increased its holdings in ACADIA Pharmaceuticals by 1.3% in the 4th quarter. Nordea Investment Management AB now owns 264,031 shares of the biopharmaceutical company’s stock valued at $4,952,000 after purchasing an additional 3,516 shares during the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on ACAD shares. StockNews.com upgraded ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Morgan Stanley restated an “equal weight” rating and set a $20.00 target price on shares of ACADIA Pharmaceuticals in a report on Friday, March 7th. HC Wainwright reiterated a “buy” rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They issued a “hold” rating and a $22.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, ACADIA Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $23.93.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ ACAD opened at $14.58 on Friday. The business has a 50-day moving average of $17.57 and a two-hundred day moving average of $16.96. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 18.69 and a beta of 0.54. ACADIA Pharmaceuticals Inc. has a 1 year low of $13.40 and a 1 year high of $20.68.

Insider Transactions at ACADIA Pharmaceuticals

In related news, Director Elizabeth A. Garofalo sold 4,919 shares of the stock in a transaction 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 directly owns 17,595 shares of the company’s stock, valued at $320,756.85. This trade represents a 21.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark C. Schneyer sold 2,708 shares of the business’s stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $14.82, for a total transaction of $40,132.56. Following the completion of the sale, the executive vice president now directly owns 59,456 shares of the company’s stock, valued at approximately $881,137.92. This trade represents a 4.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,169 shares of company stock valued at $242,686. Corporate insiders own 28.30% of the company’s stock.

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.