BNP Paribas Financial Markets Has $3.44 Million Stock Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

BNP Paribas Financial Markets raised its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 259.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 223,618 shares of the biopharmaceutical company’s stock after purchasing an additional 161,331 shares during the quarter. BNP Paribas Financial Markets’ holdings in ACADIA Pharmaceuticals were worth $3,439,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ACAD. Park Place Capital Corp acquired a new position in ACADIA Pharmaceuticals in the 3rd quarter valued at approximately $25,000. Values First Advisors Inc. acquired a new position in shares of ACADIA Pharmaceuticals during the 3rd quarter worth $27,000. Quest Partners LLC increased its stake in shares of ACADIA Pharmaceuticals by 42.3% during the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 1,047 shares during the last quarter. Stonepine Capital Management LLC acquired a new position in shares of ACADIA Pharmaceuticals during the 2nd quarter worth $81,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of ACADIA Pharmaceuticals by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 1,066 shares during the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. StockNews.com lowered shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Cantor Fitzgerald dropped their price target on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. UBS Group dropped their price target on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.56.

ACADIA Pharmaceuticals Price Performance

Shares of ACADIA Pharmaceuticals stock opened at $17.17 on Thursday. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $14.15 and a fifty-two week high of $32.59. The firm has a fifty day moving average price of $15.66 and a two-hundred day moving average price of $16.04. The company has a market cap of $2.86 billion, a PE ratio of 22.01 and a beta of 0.40.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The firm had revenue of $250.40 million during the quarter, compared to the consensus estimate of $248.83 million. During the same period in the prior year, the firm earned ($0.40) EPS. The business’s revenue was up 18.3% on a year-over-year basis. Analysts expect that ACADIA Pharmaceuticals Inc. will post 0.73 earnings per share for the current fiscal year.

Insider Transactions at ACADIA Pharmaceuticals

In other news, insider James Kihara sold 4,073 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $68,467.13. Following the completion of the transaction, the insider now directly owns 19,863 shares of the company’s stock, valued at approximately $333,897.03. This trade represents a 17.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark C. Schneyer sold 10,259 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $172,453.79. Following the transaction, the chief financial officer now directly owns 53,302 shares of the company’s stock, valued at $896,006.62. The trade was a 16.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 24,661 shares of company stock valued at $414,551. Company 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.