KLP Kapitalforvaltning AS Boosts Position in ACADIA Pharmaceuticals Inc. $ACAD

KLP Kapitalforvaltning AS lifted its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 94.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,500 shares of the biopharmaceutical company’s stock after buying an additional 21,600 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in ACADIA Pharmaceuticals were worth $950,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC bought a new position in ACADIA Pharmaceuticals in the 2nd quarter valued at $511,000. Norges Bank purchased a new stake in shares of ACADIA Pharmaceuticals in the second quarter worth $31,679,000. TFG Asset Management GP Ltd raised its position in shares of ACADIA Pharmaceuticals by 50.8% in the second quarter. TFG Asset Management GP Ltd now owns 161,396 shares of the biopharmaceutical company’s stock worth $3,481,000 after buying an additional 54,396 shares in the last quarter. First Trust Advisors LP boosted its stake in ACADIA Pharmaceuticals by 2.8% during the second quarter. First Trust Advisors LP now owns 2,434,376 shares of the biopharmaceutical company’s stock valued at $52,509,000 after buying an additional 65,914 shares during the period. Finally, Atria Investments Inc grew its position in ACADIA Pharmaceuticals by 26.1% during the second quarter. Atria Investments Inc now owns 22,087 shares of the biopharmaceutical company’s stock worth $476,000 after buying an additional 4,574 shares in the last quarter. 96.71% of the stock is currently owned by institutional investors.

Insider Activity at ACADIA Pharmaceuticals

In related news, insider James Kihara sold 4,084 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $23.69, for a total transaction of $96,749.96. Following the transaction, the insider directly owned 25,058 shares in the company, valued at $593,624.02. This trade represents a 14.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James M. Daly sold 30,000 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $22.37, for a total value of $671,100.00. Following the sale, the director directly owned 4,041 shares of the company’s stock, valued at approximately $90,397.17. This trade represents a 88.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 44,346 shares of company stock worth $1,010,957 in the last ninety days. 28.30% of the stock is owned by company insiders.

Analyst Ratings Changes

ACAD has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ACADIA Pharmaceuticals in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft set a $29.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, September 25th. HC Wainwright boosted their price target on shares of ACADIA Pharmaceuticals from $32.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. Wall Street Zen raised shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Sunday. Finally, JPMorgan Chase & Co. dropped their price target on ACADIA Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating for the company in a research note on Monday, November 17th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $31.16.

ACADIA Pharmaceuticals Stock Down 0.5%

Shares of NASDAQ:ACAD opened at $26.46 on Wednesday. The stock has a market cap of $4.48 billion, a PE ratio of 17.07, a PEG ratio of 7.07 and a beta of 0.68. The company’s fifty day moving average is $25.67 and its 200 day moving average is $23.97. ACADIA Pharmaceuticals Inc. has a 52 week low of $13.40 and a 52 week high of $28.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.28. ACADIA Pharmaceuticals had a net margin of 24.94% and a return on equity of 14.61%. The business had revenue of $278.63 million during the quarter, compared to the consensus estimate of $276.52 million. During the same period in the previous year, the firm posted $0.20 earnings per share. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. Sell-side analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current 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.