Elo Mutual Pension Insurance Co Takes $216,000 Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Elo Mutual Pension Insurance Co acquired a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 11,760 shares of the biopharmaceutical company’s stock, valued at approximately $216,000.

Several other hedge funds also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in ACADIA Pharmaceuticals in the 4th quarter worth approximately $47,000. KBC Group NV raised its position in shares of ACADIA Pharmaceuticals by 67.0% in the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock worth $93,000 after buying an additional 2,044 shares in the last quarter. Globeflex Capital L P bought a new stake in ACADIA Pharmaceuticals during the fourth quarter valued at $168,000. Xponance Inc. purchased a new position in ACADIA Pharmaceuticals during the fourth quarter worth about $186,000. Finally, Vinva Investment Management Ltd bought a new position in ACADIA Pharmaceuticals in the 4th quarter worth about $187,000. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Insiders Place Their Bets

In other news, Director Elizabeth A. Garofalo sold 4,919 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total transaction of $89,673.37. Following the completion of the sale, the director now directly owns 17,595 shares in the company, valued at approximately $320,756.85. This represents a 21.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark C. Schneyer sold 3,171 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $17.05, for a total value of $54,065.55. Following the completion of the sale, the executive vice president now directly owns 56,889 shares in the company, valued at $969,957.45. The trade was a 5.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,433 shares of company stock valued at $187,319 in the last quarter. Insiders own 28.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ACAD shares. HC Wainwright reiterated a “buy” rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. StockNews.com upgraded shares of ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, March 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $20.00 target price on shares of ACADIA Pharmaceuticals in a research note on Friday, March 7th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.93.

ACADIA Pharmaceuticals Stock Performance

Shares of ACADIA Pharmaceuticals stock opened at $16.61 on Tuesday. The company’s 50 day moving average price is $18.32 and its 200-day moving average price is $17.06. ACADIA Pharmaceuticals Inc. has a 52-week low of $14.15 and a 52-week high of $20.68. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 21.30 and a beta of 0.43.

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.