ACADIA Pharmaceuticals Inc. $ACAD Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 25.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 658,813 shares of the biopharmaceutical company’s stock after buying an additional 133,393 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.39% of ACADIA Pharmaceuticals worth $17,320,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ACAD. Dimensional Fund Advisors LP increased its position in shares of ACADIA Pharmaceuticals by 16.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,798,134 shares of the biopharmaceutical company’s stock valued at $59,712,000 after buying an additional 402,534 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of ACADIA Pharmaceuticals by 2.8% in 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 purchasing an additional 65,914 shares in the last quarter. Braidwell LP purchased a new stake in shares of ACADIA Pharmaceuticals in the third quarter valued at about $50,760,000. Marshall Wace LLP grew its position in shares of ACADIA Pharmaceuticals by 19.8% in the third quarter. Marshall Wace LLP now owns 2,358,881 shares of the biopharmaceutical company’s stock valued at $50,339,000 after purchasing an additional 389,170 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of ACADIA Pharmaceuticals by 390.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,648,864 shares of the biopharmaceutical company’s stock valued at $35,187,000 after purchasing an additional 1,312,426 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Jennifer J. Rhodes sold 6,950 shares of the stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $23.38, for a total value of $162,491.00. Following the completion of the sale, the executive vice president owned 7,609 shares of the company’s stock, valued at $177,898.42. This trade represents a 47.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 26.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Mizuho raised shares of ACADIA Pharmaceuticals from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $29.00 to $35.00 in a research note on Monday, February 23rd. Piper Sandler set a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research note on Tuesday, December 16th. Stifel Nicolaus decreased their target price on shares of ACADIA Pharmaceuticals from $25.00 to $24.00 and set a “hold” rating on the stock in a research report on Thursday, February 26th. Wall Street Zen cut shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $34.00 price target on shares of ACADIA Pharmaceuticals in a report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, ACADIA Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $31.21.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD stock opened at $22.20 on Friday. The company’s fifty day simple moving average is $22.93 and its 200-day simple moving average is $23.84. ACADIA Pharmaceuticals Inc. has a 52 week low of $13.40 and a 52 week high of $28.35. The company has a market cap of $3.78 billion, a PE ratio of 9.69, a P/E/G ratio of 22.07 and a beta of 0.83.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $1.48. ACADIA Pharmaceuticals had a net margin of 36.49% and a return on equity of 12.49%. The firm had revenue of $298.00 million during the quarter, compared to analysts’ expectations of $292.54 million. During the same period in the prior year, the company earned $0.86 EPS. The firm’s revenue was up 9.4% on a year-over-year basis. Equities research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

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.