Intech Investment Management LLC Makes New Investment in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Intech Investment Management LLC purchased a new stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 37,683 shares of the biopharmaceutical company’s stock, valued at approximately $580,000.

A number of other large investors have also recently modified their holdings of the company. Park Place Capital Corp bought a new position in ACADIA Pharmaceuticals during the 3rd quarter worth about $25,000. Values First Advisors Inc. bought a new position in shares of ACADIA Pharmaceuticals during the third quarter valued at approximately $27,000. Quest Partners LLC increased its holdings in ACADIA Pharmaceuticals by 42.3% during the third quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock valued at $54,000 after buying an additional 1,047 shares during the period. Stonepine Capital Management LLC bought a new position in ACADIA Pharmaceuticals in the second quarter worth approximately $81,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in ACADIA Pharmaceuticals by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock worth $94,000 after buying an additional 1,066 shares during the period. Hedge funds and other institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Trading Up 0.2 %

ACAD opened at $16.32 on Monday. ACADIA Pharmaceuticals Inc. has a 12-month low of $14.15 and a 12-month high of $32.59. The firm has a 50 day moving average of $15.61 and a two-hundred day moving average of $16.01. The firm has a market capitalization of $2.72 billion, a PE ratio of 20.92 and a beta of 0.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The company had revenue of $250.40 million during the quarter, compared to the consensus estimate of $248.83 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.40) earnings per share. As a group, analysts predict that ACADIA Pharmaceuticals Inc. will post 0.73 EPS for the current fiscal year.

Insider Transactions at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 10,329 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total value of $173,630.49. Following the sale, the chief operating officer now owns 62,105 shares in the company, valued at approximately $1,043,985.05. This represents a 14.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Mark C. Schneyer sold 10,259 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $172,453.79. Following the sale, the chief financial officer now directly owns 53,302 shares in the company, valued at $896,006.62. The trade was a 16.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,661 shares of company stock worth $414,551 over the last quarter. 28.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ACAD shares. StockNews.com downgraded ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 14th. Morgan Stanley downgraded shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $28.00 to $20.00 in a report on Wednesday, August 7th. Needham & Company LLC restated a “buy” rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Citigroup reduced their price objective on shares of ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, UBS Group lowered their target price on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.56.

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.