Principal Financial Group Inc. Grows Stock Position in ACADIA Pharmaceuticals Inc. $ACAD

Principal Financial Group Inc. lifted its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 3.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 768,224 shares of the biopharmaceutical company’s stock after purchasing an additional 22,868 shares during the period. Principal Financial Group Inc.’s holdings in ACADIA Pharmaceuticals were worth $17,101,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank purchased a new stake in ACADIA Pharmaceuticals during the fourth quarter valued at approximately $40,266,000. Millennium Management LLC boosted its stake in shares of ACADIA Pharmaceuticals by 2,052.1% during the 3rd quarter. Millennium Management LLC now owns 1,483,235 shares of the biopharmaceutical company’s stock worth $31,652,000 after acquiring an additional 1,414,315 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of ACADIA Pharmaceuticals by 390.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,648,864 shares of the biopharmaceutical company’s stock worth $35,187,000 after acquiring an additional 1,312,426 shares during the last quarter. Logos Global Management LP bought a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter valued at $22,704,000. Finally, Frazier Life Sciences Management L.P. grew its position in shares of ACADIA Pharmaceuticals by 111.3% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 1,297,198 shares of the biopharmaceutical company’s stock valued at $34,648,000 after acquiring an additional 683,361 shares during the period. Hedge funds and other institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD stock opened at $24.96 on Thursday. The company has a market capitalization of $4.27 billion, a price-to-earnings ratio of 11.35, a PEG ratio of 18.32 and a beta of 0.80. ACADIA Pharmaceuticals Inc. has a one year low of $19.69 and a one year high of $28.35. The company’s fifty day moving average price is $23.10 and its 200-day moving average price is $23.25.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The firm had revenue of $268.10 million for the quarter, compared to analysts’ expectations of $280.25 million. ACADIA Pharmaceuticals had a net margin of 34.30% and a return on equity of 9.61%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.11 EPS. Equities research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.37 earnings per share for the current fiscal year.

Insider Transactions at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 3,506 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $21.79, for a total transaction of $76,395.74. Following the sale, the executive vice president directly owned 66,145 shares of the company’s stock, valued at $1,441,299.55. This trade represents a 5.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James Kihara sold 5,401 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $21.18, for a total value of $114,393.18. Following the completion of the transaction, the insider owned 24,509 shares in the company, valued at $519,100.62. The trade was a 18.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 10,239 shares of company stock worth $219,813. Insiders own 26.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. HC Wainwright lowered ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Citigroup lifted their target price on ACADIA Pharmaceuticals from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Weiss Ratings lowered ACADIA Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 1st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $37.00 price target on shares of ACADIA Pharmaceuticals in a research report on Monday, June 29th. Finally, Bank of America lifted their price objective on ACADIA Pharmaceuticals from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. Thirteen analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.17.

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.