JPMorgan Chase & Co. Acquires 272,236 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

JPMorgan Chase & Co. grew its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 61.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 713,360 shares of the biopharmaceutical company’s stock after purchasing an additional 272,236 shares during the period. JPMorgan Chase & Co. owned about 0.43% of ACADIA Pharmaceuticals worth $13,090,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ACAD. R Squared Ltd acquired a new position in ACADIA Pharmaceuticals during the fourth quarter valued at approximately $47,000. KBC Group NV raised its stake in shares of ACADIA Pharmaceuticals by 67.0% during the 4th quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock worth $93,000 after purchasing an additional 2,044 shares in the last quarter. Globeflex Capital L P acquired a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at approximately $168,000. Xponance Inc. bought a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at $186,000. Finally, Vinva Investment Management Ltd acquired a new position in ACADIA Pharmaceuticals during the fourth quarter worth $187,000. Institutional investors own 96.71% of the company’s stock.

Insider Transactions at ACADIA Pharmaceuticals

In related news, Director Elizabeth A. Garofalo sold 4,919 shares of the business’s stock in a transaction dated 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark C. Schneyer sold 2,708 shares of the stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $14.82, for a total transaction of $40,132.56. Following the sale, the executive vice president now owns 59,456 shares in the company, valued at $881,137.92. The trade was a 4.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,169 shares of company stock valued at $242,686. 28.30% of the stock is currently owned by company insiders.

ACADIA Pharmaceuticals Stock Performance

NASDAQ:ACAD opened at $14.58 on Monday. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 18.69 and a beta of 0.54. ACADIA Pharmaceuticals Inc. has a 52 week low of $13.40 and a 52 week high of $20.68. The firm’s 50-day simple moving average is $17.57 and its 200 day simple moving average is $16.97.

Analyst Ratings Changes

A number of analysts have commented on the stock. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, March 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. HC Wainwright reissued a “buy” rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Guggenheim cut ACADIA Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their price objective for the company from $23.00 to $20.00 in a research report on Friday, January 3rd. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $20.00 target price on shares of ACADIA Pharmaceuticals in a research note on Friday, March 7th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.93.

About ACADIA Pharmaceuticals

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.