Acadian Asset Management LLC Takes $111,000 Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Acadian Asset Management LLC bought a new position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 6,884 shares of the biopharmaceutical company’s stock, valued at approximately $111,000.

Other institutional investors have also added to or reduced their stakes in the company. Quest Partners LLC purchased a new position in shares of ACADIA Pharmaceuticals during the fourth quarter worth approximately $39,000. Covestor Ltd raised its position in ACADIA Pharmaceuticals by 70.5% in the 1st quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 840 shares during the period. Headlands Technologies LLC purchased a new position in ACADIA Pharmaceuticals in the 1st quarter worth $48,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in ACADIA Pharmaceuticals in the fourth quarter worth $100,000. Finally, Shell Asset Management Co. boosted its position in ACADIA Pharmaceuticals by 65.7% during the first quarter. Shell Asset Management Co. now owns 7,339 shares of the biopharmaceutical company’s stock valued at $136,000 after buying an additional 2,909 shares during the period. Institutional investors own 96.71% of the company’s stock.

Insiders Place Their Bets

In other news, COO Brendan Teehan sold 9,534 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $145,679.52. Following the completion of the transaction, the chief operating officer now directly owns 52,177 shares in the company, valued at $797,264.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Brendan Teehan sold 9,534 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $145,679.52. Following the completion of the transaction, the chief operating officer now owns 52,177 shares of the company’s stock, valued at approximately $797,264.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mark C. Schneyer sold 9,733 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $148,720.24. Following the transaction, the chief financial officer now owns 43,735 shares of the company’s stock, valued at approximately $668,270.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,014 shares of company stock worth $779,494. 28.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ACAD has been the subject of a number of recent research reports. Needham & Company LLC lowered their target price on ACADIA Pharmaceuticals from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Royal Bank of Canada cut their target price on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Cantor Fitzgerald lowered their price target on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. BMO Capital Markets assumed 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. Finally, Morgan Stanley downgraded shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $28.00 to $20.00 in a research note on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.56.

ACADIA Pharmaceuticals Stock Up 0.7 %

Shares of ACAD stock opened at $16.53 on Friday. The business’s fifty day moving average is $16.81 and its 200 day moving average is $16.83. The stock 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. ACADIA Pharmaceuticals Inc. has a twelve month low of $14.55 and a twelve month high of $32.59.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its earnings results 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 firm had revenue of $241.96 million for 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 period in the prior year, the firm earned $0.01 EPS. Equities research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.52 earnings per share for the current fiscal 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.