Legal & General Group Plc Boosts Position in ACADIA Pharmaceuticals Inc. (ACAD)

Legal & General Group Plc boosted its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 173.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,968 shares of the biopharmaceutical company’s stock after buying an additional 20,916 shares during the period. Legal & General Group Plc’s holdings in ACADIA Pharmaceuticals were worth $1,133,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its position in ACADIA Pharmaceuticals by 379.7% in the first quarter. Russell Investments Group Ltd. now owns 24,150 shares of the biopharmaceutical company’s stock valued at $831,000 after buying an additional 19,116 shares during the last quarter. Nationwide Fund Advisors purchased a new position in ACADIA Pharmaceuticals during the first quarter valued at about $424,000. Candriam Luxembourg S.C.A. purchased a new position in ACADIA Pharmaceuticals during the first quarter valued at about $2,097,000. Quantitative Systematic Strategies LLC purchased a new position in ACADIA Pharmaceuticals during the first quarter valued at about $209,000. Finally, Nisa Investment Advisors LLC increased its position in ACADIA Pharmaceuticals by 12.8% in the first quarter. Nisa Investment Advisors LLC now owns 4,510 shares of the biopharmaceutical company’s stock valued at $155,000 after buying an additional 510 shares during the last quarter. 97.18% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) opened at 30.13 on Thursday. The firm’s market capitalization is $3.68 billion. ACADIA Pharmaceuticals Inc. has a 12 month low of $20.68 and a 12 month high of $40.83. The firm’s 50-day moving average price is $28.34 and its 200 day moving average price is $32.13.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.72) earnings per share for the quarter, topping the consensus estimate of ($0.73) by $0.01. ACADIA Pharmaceuticals had a negative net margin of 948.93% and a negative return on equity of 63.07%. The company had revenue of $15.30 million for the quarter, compared to analyst estimates of $15.17 million. During the same period in the prior year, the business posted ($0.45) earnings per share. Analysts anticipate that ACADIA Pharmaceuticals Inc. will post ($2.82) earnings per share for the current fiscal year.

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Several research firms recently issued reports on ACAD. Needham & Company LLC reissued a “buy” rating and issued a $49.00 target price on shares of ACADIA Pharmaceuticals in a research report on Wednesday, April 5th. Zacks Investment Research raised ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, April 14th. Jefferies Group LLC reissued a “buy” rating and issued a $47.00 target price on shares of ACADIA Pharmaceuticals in a research report on Wednesday, April 12th. BidaskClub raised ACADIA Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday. Finally, HC Wainwright reissued a “buy” rating on shares of ACADIA Pharmaceuticals in a research report on Wednesday, May 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $42.14.

In other ACADIA Pharmaceuticals news, EVP Glenn Baity sold 38,097 shares of the company’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $30.00, for a total transaction of $1,142,910.00. Following the transaction, the executive vice president now directly owns 109,253 shares in the company, valued at $3,277,590. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 22.25% of the company’s stock.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of medicines for central nervous system (CNS) disorders. Its lead drug candidate, NUPLAZID (pimavanserin), is used for the treatment of hallucinations and delusions associated with Parkinson’s disease psychosis (PD Psychosis).

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Institutional Ownership by Quarter for ACADIA Pharmaceuticals (NASDAQ:ACAD)

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