Los Angeles Capital Management LLC Grows Stock Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Los Angeles Capital Management LLC grew its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 3.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 67,474 shares of the biopharmaceutical company’s stock after purchasing an additional 2,295 shares during the period. Los Angeles Capital Management LLC’s holdings in ACADIA Pharmaceuticals were worth $1,248,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Fisher Asset Management LLC purchased a new position in shares of ACADIA Pharmaceuticals during the fourth quarter valued at approximately $4,479,000. Perceptive Advisors LLC purchased a new stake in ACADIA Pharmaceuticals during the 4th quarter valued at $3,162,000. Jump Financial LLC increased its holdings in shares of ACADIA Pharmaceuticals by 326.3% in the 4th quarter. Jump Financial LLC now owns 116,341 shares of the biopharmaceutical company’s stock worth $3,643,000 after purchasing an additional 89,053 shares in the last quarter. M&G Investment Management Ltd. purchased a new position in shares of ACADIA Pharmaceuticals in the fourth quarter worth $10,349,000. Finally, UBS Group AG lifted its holdings in shares of ACADIA Pharmaceuticals by 112.4% during the fourth quarter. UBS Group AG now owns 307,359 shares of the biopharmaceutical company’s stock valued at $9,623,000 after purchasing an additional 162,663 shares in the last quarter. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on ACAD. TheStreet upgraded ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a report on Tuesday, February 27th. Morgan Stanley reduced their price target on shares of ACADIA Pharmaceuticals from $40.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, March 13th. Robert W. Baird dropped their target price on shares of ACADIA Pharmaceuticals from $31.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Citigroup cut their target price on shares of ACADIA Pharmaceuticals from $30.19 to $30.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Finally, Oppenheimer reaffirmed a “market perform” rating and issued a $19.00 target price on shares of ACADIA Pharmaceuticals in a research report on Monday, May 6th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, ACADIA Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $28.94.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, CFO Mark C. Schneyer sold 3,503 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $16.94, for a total value of $59,340.82. Following the sale, the chief financial officer now owns 32,053 shares in the company, valued at approximately $542,977.82. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 17,714 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $17.90, for a total value of $317,080.60. Following the sale, the chief executive officer now owns 118,842 shares in the company, valued at approximately $2,127,271.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Mark C. Schneyer sold 3,503 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $16.94, for a total transaction of $59,340.82. Following the completion of the sale, the chief financial officer now owns 32,053 shares in the company, valued at approximately $542,977.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 82,644 shares of company stock valued at $1,456,342. Company insiders own 28.30% of the company’s stock.

ACADIA Pharmaceuticals Stock Performance

Shares of ACADIA Pharmaceuticals stock opened at $15.30 on Monday. The company has a market capitalization of $2.53 billion, a P/E ratio of -1,528.47 and a beta of 0.40. The company has a fifty day moving average of $15.76 and a 200 day moving average of $21.54. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $14.55 and a fifty-two week high of $33.99.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Wednesday, May 8th. The biopharmaceutical company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.06. The company had revenue of $205.83 million during the quarter, compared to the consensus estimate of $208.31 million. ACADIA Pharmaceuticals had a negative net margin of 0.21% and a negative return on equity of 0.41%. ACADIA Pharmaceuticals’s quarterly revenue was up 73.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.27) EPS. Analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.58 EPS for the current year.

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.