Two Sigma Advisers LP Buys 778,900 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Two Sigma Advisers LP increased its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 160.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,263,200 shares of the biopharmaceutical company’s stock after purchasing an additional 778,900 shares during the quarter. Two Sigma Advisers LP’s holdings in ACADIA Pharmaceuticals were worth $23,180,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of ACAD. Barclays PLC increased its position in ACADIA Pharmaceuticals by 126.2% during the 3rd quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company’s stock valued at $4,269,000 after purchasing an additional 154,854 shares during the period. SG Americas Securities LLC boosted its stake in shares of ACADIA Pharmaceuticals by 380.3% during the fourth quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company’s stock valued at $45,576,000 after purchasing an additional 1,966,607 shares in the last quarter. KBC Group NV increased its holdings in ACADIA Pharmaceuticals by 67.0% during the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock valued at $93,000 after buying an additional 2,044 shares during the period. R Squared Ltd purchased a new position in ACADIA Pharmaceuticals during the fourth quarter valued at approximately $47,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in ACADIA Pharmaceuticals by 10.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 35,281 shares of the biopharmaceutical company’s stock worth $647,000 after buying an additional 3,378 shares in the last quarter. Institutional investors own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Trading Down 1.4%

ACADIA Pharmaceuticals stock opened at $21.69 on Wednesday. The firm has a market capitalization of $3.63 billion, a P/E ratio of 27.81 and a beta of 0.47. ACADIA Pharmaceuticals Inc. has a twelve month low of $13.40 and a twelve month high of $25.23. The stock’s fifty day simple moving average is $16.11 and its 200-day simple moving average is $17.19.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The company had revenue of $244.32 million during the quarter, compared to the consensus estimate of $239.32 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 18.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.10 earnings per share. Sell-side analysts predict that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

Insider Transactions at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, insider James Kihara sold 4,000 shares of ACADIA Pharmaceuticals stock in a transaction on Friday, May 16th. The shares were sold at an average price of $22.50, for a total value of $90,000.00. Following the transaction, the insider now directly owns 20,395 shares in the company, valued at approximately $458,887.50. The trade was a 16.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark C. Schneyer sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $25.00, for a total value of $50,000.00. Following the sale, the executive vice president now directly owns 62,130 shares of the company’s stock, valued at approximately $1,553,250. This represents a 3.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,994 shares of company stock worth $453,131. 26.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Mizuho lifted their price target on ACADIA Pharmaceuticals from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Monday. Morgan Stanley lifted their target price on ACADIA Pharmaceuticals from $20.00 to $24.00 and gave the company an “equal weight” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft began coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They issued a “hold” rating and a $22.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and set a $26.00 price target on shares of ACADIA Pharmaceuticals in a research report on Monday. Finally, Needham & Company LLC lifted their price objective on shares of ACADIA Pharmaceuticals from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.75.

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.