Candriam S.C.A. Invests $11.47 Million in ACADIA Pharmaceuticals Inc. $ACAD

Candriam S.C.A. purchased a new stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 537,601 shares of the biopharmaceutical company’s stock, valued at approximately $11,472,000.

Other institutional investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its stake in shares of ACADIA Pharmaceuticals by 107.0% in the third quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 885 shares in the last quarter. Allianz Asset Management GmbH lifted its position in ACADIA Pharmaceuticals by 86.4% during the 3rd quarter. Allianz Asset Management GmbH now owns 31,873 shares of the biopharmaceutical company’s stock worth $680,000 after buying an additional 14,773 shares in the last quarter. State of Wyoming bought a new stake in ACADIA Pharmaceuticals during the 3rd quarter worth about $177,000. AlphaQuest LLC acquired a new stake in ACADIA Pharmaceuticals in the 3rd quarter valued at about $688,000. Finally, Arizona State Retirement System raised its stake in shares of ACADIA Pharmaceuticals by 9.5% in the third quarter. Arizona State Retirement System now owns 34,653 shares of the biopharmaceutical company’s stock worth $739,000 after acquiring an additional 3,014 shares during the last quarter. Institutional investors own 96.71% of the company’s stock.

Insider Buying and Selling

In other news, EVP Jennifer J. Rhodes sold 6,950 shares of the business’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $23.38, for a total transaction of $162,491.00. Following the completion of the transaction, the executive vice president directly owned 7,609 shares in the company, valued at approximately $177,898.42. The trade was a 47.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James Kihara sold 4,084 shares of the company’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $23.69, for a total value of $96,749.96. Following the completion of the sale, the insider directly owned 25,058 shares of the company’s stock, valued at approximately $593,624.02. This trade represents a 14.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 21,296 shares of company stock valued at $502,348 over the last three months. Company insiders own 28.30% of the company’s stock.

ACADIA Pharmaceuticals Stock Performance

ACAD opened at $22.70 on Wednesday. The company has a fifty day moving average price of $26.38 and a two-hundred day moving average price of $24.48. The firm has a market capitalization of $3.84 billion, a PE ratio of 14.65, a P/E/G ratio of 8.15 and a beta of 0.66. ACADIA Pharmaceuticals Inc. has a 52 week low of $13.40 and a 52 week high of $28.35.

Wall Street Analyst Weigh In

ACAD has been the topic of several research analyst reports. Oppenheimer reissued a “market perform” rating on shares of ACADIA Pharmaceuticals in a research note on Friday. Citizens Jmp reiterated a “market outperform” rating and issued a $34.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Tuesday, February 3rd. Citigroup boosted their target price on ACADIA Pharmaceuticals from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. HC Wainwright reiterated a “buy” rating and issued a $37.00 price target on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 3rd. Finally, Royal Bank Of Canada lowered their price objective on ACADIA Pharmaceuticals from $35.00 to $31.00 and set an “outperform” rating for the company in a research report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $31.30.

ACADIA Pharmaceuticals Company 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.