Aviva PLC Takes $658,000 Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Aviva PLC bought a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 35,883 shares of the biopharmaceutical company’s stock, valued at approximately $658,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in ACADIA Pharmaceuticals by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 13,947,640 shares of the biopharmaceutical company’s stock valued at $255,939,000 after acquiring an additional 104,444 shares during the last quarter. State Street Corp raised its stake in ACADIA Pharmaceuticals by 3.0% during the 3rd quarter. State Street Corp now owns 5,973,874 shares of the biopharmaceutical company’s stock valued at $91,878,000 after acquiring an additional 173,084 shares during the last quarter. Geode Capital Management LLC raised its stake in ACADIA Pharmaceuticals by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,875,540 shares of the biopharmaceutical company’s stock valued at $44,234,000 after acquiring an additional 30,826 shares during the last quarter. SG Americas Securities LLC raised its stake in ACADIA Pharmaceuticals by 380.3% during the 4th quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company’s stock valued at $45,576,000 after acquiring an additional 1,966,607 shares during the last quarter. Finally, Norges Bank purchased a new stake in ACADIA Pharmaceuticals during the 4th quarter valued at approximately $25,555,000. 96.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on ACAD shares. Deutsche Bank Aktiengesellschaft started coverage on ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They set a “hold” rating and a $22.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Tuesday. HC Wainwright reiterated a “buy” rating and set a $27.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Morgan Stanley reiterated an “equal weight” rating and set a $20.00 target price on shares of ACADIA Pharmaceuticals in a research report on Friday, March 7th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.93.

ACADIA Pharmaceuticals Stock Performance

ACADIA Pharmaceuticals stock opened at $14.96 on Thursday. The stock has a fifty day moving average of $17.74 and a two-hundred day moving average of $16.98. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 19.18 and a beta of 0.54. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $13.40 and a fifty-two week high of $20.68.

Insiders Place Their Bets

In other news, Director Elizabeth A. Garofalo sold 4,919 shares of ACADIA Pharmaceuticals stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total value of $89,673.37. Following the completion of the sale, the director now owns 17,595 shares of the company’s stock, valued at $320,756.85. The trade was a 21.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark C. Schneyer sold 2,708 shares of ACADIA Pharmaceuticals stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $14.82, for a total value 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 represents a 4.36 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,169 shares of company stock valued at $242,686. Corporate insiders own 28.30% of the company’s stock.

ACADIA Pharmaceuticals 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.