Victory Capital Management Inc. Buys 2,708 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Victory Capital Management Inc. raised its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 2.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 97,130 shares of the biopharmaceutical company’s stock after buying an additional 2,708 shares during the quarter. Victory Capital Management Inc. owned about 0.06% of ACADIA Pharmaceuticals worth $1,494,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Atria Investments Inc grew its holdings in ACADIA Pharmaceuticals by 10.8% during the third quarter. Atria Investments Inc now owns 24,437 shares of the biopharmaceutical company’s stock valued at $376,000 after purchasing an additional 2,384 shares during the period. Principal Financial Group Inc. boosted its position in shares of ACADIA Pharmaceuticals by 67.8% during the third quarter. Principal Financial Group Inc. now owns 129,551 shares of the biopharmaceutical company’s stock worth $1,992,000 after purchasing an additional 52,340 shares in the last quarter. Emerald Advisers LLC grew its holdings in shares of ACADIA Pharmaceuticals by 2.7% in the 3rd quarter. Emerald Advisers LLC now owns 830,829 shares of the biopharmaceutical company’s stock valued at $12,778,000 after buying an additional 21,998 shares during the period. Emerald Mutual Fund Advisers Trust increased its position in shares of ACADIA Pharmaceuticals by 2.9% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 574,810 shares of the biopharmaceutical company’s stock valued at $8,841,000 after buying an additional 15,961 shares in the last quarter. Finally, US Bancorp DE raised its stake in ACADIA Pharmaceuticals by 2,084.0% during the 3rd quarter. US Bancorp DE now owns 32,934 shares of the biopharmaceutical company’s stock worth $507,000 after buying an additional 31,426 shares during the period. 96.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on ACAD. HC Wainwright restated a “buy” rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Morgan Stanley downgraded shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $28.00 to $20.00 in a report on Wednesday, August 7th. Cantor Fitzgerald reduced 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. Needham & Company LLC restated a “buy” rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, November 7th. Finally, Citigroup reduced their target price 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. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.56.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD stock opened at $16.54 on Tuesday. ACADIA Pharmaceuticals Inc. has a 52-week low of $14.15 and a 52-week high of $32.59. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 21.21 and a beta of 0.38. The firm’s 50-day moving average is $15.61 and its 200-day moving average is $15.97.

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

Insider Transactions at ACADIA Pharmaceuticals

In related news, insider James Kihara sold 4,073 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $68,467.13. Following the transaction, the insider now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Brendan Teehan sold 10,329 shares of the 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 $173,630.49. Following the transaction, the chief operating officer now owns 62,105 shares in the company, valued at approximately $1,043,985.05. The trade was a 14.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,661 shares of company stock worth $414,551. 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.