Edgestream Partners L.P. Acquires 29,051 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Edgestream Partners L.P. increased its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 46.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 90,957 shares of the biopharmaceutical company’s stock after buying an additional 29,051 shares during the period. Edgestream Partners L.P. owned about 0.06% of ACADIA Pharmaceuticals worth $1,478,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. First Trust Advisors LP raised its stake in ACADIA Pharmaceuticals by 9.1% in the fourth quarter. First Trust Advisors LP now owns 1,777,307 shares of the biopharmaceutical company’s stock worth $55,647,000 after buying an additional 148,526 shares in the last quarter. Jupiter Asset Management Ltd. grew its holdings in ACADIA Pharmaceuticals by 21.3% in the first quarter. Jupiter Asset Management Ltd. now owns 1,603,774 shares of the biopharmaceutical company’s stock worth $29,654,000 after purchasing an additional 281,410 shares during the last quarter. Norges Bank purchased a new position in ACADIA Pharmaceuticals in the fourth quarter worth $45,187,000. Frontier Capital Management Co. LLC grew its holdings in ACADIA Pharmaceuticals by 8.7% in the fourth quarter. Frontier Capital Management Co. LLC now owns 823,586 shares of the biopharmaceutical company’s stock worth $25,786,000 after purchasing an additional 65,973 shares during the last quarter. Finally, Eventide Asset Management LLC purchased a new position in ACADIA Pharmaceuticals in the fourth quarter worth $25,342,000. Institutional investors own 96.71% of the company’s stock.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 31,747 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $485,094.16. Following the completion of the transaction, the chief executive officer now owns 186,555 shares in the company, valued at $2,850,560.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Mark C. Schneyer sold 9,733 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $148,720.24. Following the completion of the transaction, the chief financial officer now owns 43,735 shares in the company, valued at approximately $668,270.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Stephen Davis sold 31,747 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $485,094.16. Following the transaction, the chief executive officer now owns 186,555 shares of the company’s stock, valued at approximately $2,850,560.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,014 shares of company stock worth $779,494. Company insiders own 28.30% of the company’s stock.

ACADIA Pharmaceuticals Stock Performance

NASDAQ:ACAD opened at $16.53 on Friday. ACADIA Pharmaceuticals Inc. has a one year low of $14.55 and a one year high of $32.59. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of -1,653.00, a PEG ratio of 0.53 and a beta of 0.40. The firm’s fifty day moving average is $16.81 and its two-hundred day moving average is $16.88.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. The business had revenue of $241.96 million during the quarter, compared to the consensus estimate of $235.95 million. ACADIA Pharmaceuticals had a net margin of 3.43% and a return on equity of 6.89%. The company’s revenue was up 46.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.01 earnings per share. As a group, equities research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ACAD has been the topic of several analyst reports. BMO Capital Markets initiated coverage on shares of ACADIA Pharmaceuticals in a report on Thursday, June 27th. They issued an “outperform” rating and a $31.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, August 8th. Cantor Fitzgerald cut their price target on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. UBS Group cut their price target on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Needham & Company LLC dropped their price objective on shares of ACADIA Pharmaceuticals from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.56.

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.