Atria Investments Inc Grows Stock Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Atria Investments Inc boosted its holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 10.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,437 shares of the biopharmaceutical company’s stock after buying an additional 2,384 shares during the period. Atria Investments Inc’s holdings in ACADIA Pharmaceuticals were worth $376,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Arizona State Retirement System grew its stake in ACADIA Pharmaceuticals by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 29,983 shares of the biopharmaceutical company’s stock valued at $487,000 after buying an additional 655 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in ACADIA Pharmaceuticals by 5.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 14,770 shares of the biopharmaceutical company’s stock valued at $240,000 after buying an additional 778 shares in the last quarter. Covestor Ltd grew its stake in ACADIA Pharmaceuticals by 70.5% in the 1st quarter. Covestor Ltd now owns 2,032 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 840 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in ACADIA Pharmaceuticals by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 1,066 shares in the last quarter. Finally, Park Place Capital Corp purchased a new position in ACADIA Pharmaceuticals in the 3rd quarter valued at approximately $25,000. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ACAD has been the subject of a number of recent analyst reports. HC Wainwright restated a “buy” rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Raymond James reiterated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, October 10th. Royal Bank of Canada cut their target price on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, StockNews.com lowered shares of ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $25.56.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD opened at $16.18 on Friday. ACADIA Pharmaceuticals Inc. has a one year low of $14.15 and a one year high of $32.59. The company has a 50-day simple moving average of $15.61 and a two-hundred day simple moving average of $15.99. The firm has a market capitalization of $2.69 billion, a PE ratio of 20.74 and a beta of 0.38.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.14 by $0.06. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The business had revenue of $250.40 million during the quarter, compared to analyst estimates of $248.83 million. During the same period last year, the business posted ($0.40) earnings per share. ACADIA Pharmaceuticals’s quarterly revenue was up 18.3% compared to the same quarter last year. Analysts expect that ACADIA Pharmaceuticals Inc. will post 0.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, insider James Kihara sold 4,073 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $68,467.13. Following the completion of the transaction, the insider now owns 19,863 shares of the company’s stock, valued at approximately $333,897.03. This trade represents a 17.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 shares were sold at an average price of $16.81, for a total transaction of $172,453.79. Following the transaction, the chief financial officer now directly owns 53,302 shares of the company’s stock, valued at $896,006.62. This represents a 16.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,661 shares of company stock worth $414,551 over the last three months. Company insiders own 28.30% of the company’s stock.

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.