ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Stake Boosted by Sherbrooke Park Advisers LLC

Sherbrooke Park Advisers LLC increased its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 22.6% during the fourth quarter, HoldingsChannel reports. The firm owned 22,638 shares of the biopharmaceutical company’s stock after acquiring an additional 4,172 shares during the period. Sherbrooke Park Advisers LLC’s holdings in ACADIA Pharmaceuticals were worth $415,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Summit Investment Advisors Inc. increased its stake in ACADIA Pharmaceuticals by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 12,519 shares of the biopharmaceutical company’s stock worth $230,000 after purchasing an additional 795 shares in the last quarter. Arete Wealth Advisors LLC grew its stake in ACADIA Pharmaceuticals by 15.9% during the 4th quarter. Arete Wealth Advisors LLC now owns 13,700 shares of the biopharmaceutical company’s stock valued at $251,000 after acquiring an additional 1,875 shares in the last quarter. KBC Group NV grew its stake in ACADIA Pharmaceuticals by 67.0% during the 4th quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company’s stock valued at $93,000 after acquiring an additional 2,044 shares in the last quarter. R Squared Ltd purchased a new position in ACADIA Pharmaceuticals during the 4th quarter valued at about $47,000. Finally, MetLife Investment Management LLC grew its stake in ACADIA Pharmaceuticals by 3.8% during the 4th quarter. MetLife Investment Management LLC now owns 73,048 shares of the biopharmaceutical company’s stock valued at $1,340,000 after acquiring an additional 2,669 shares in the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Insider Buying and Selling

In related news, EVP Mark C. Schneyer sold 3,498 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $14.60, for a total value of $51,070.80. Following the completion of the sale, the executive vice president now directly owns 62,773 shares in the company, valued at approximately $916,485.80. The trade was a 5.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Elizabeth A. Garofalo sold 4,919 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total value of $89,673.37. Following the transaction, the director now owns 17,595 shares of the company’s stock, valued at approximately $320,756.85. This trade represents a 21.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,994 shares of company stock worth $313,131. 26.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ACAD has been the topic of several research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a research note on Tuesday, April 8th. Morgan Stanley reaffirmed an “equal weight” rating and set a $20.00 target price on shares of ACADIA Pharmaceuticals in a research note on Friday, March 7th. StockNews.com cut ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, May 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $27.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $24.70.

ACADIA Pharmaceuticals Stock Performance

ACAD opened at $22.26 on Friday. The business has a 50 day moving average price of $15.91 and a 200 day moving average price of $17.09. ACADIA Pharmaceuticals Inc. has a twelve month low of $13.40 and a twelve month high of $25.23. The firm has a market cap of $3.73 billion, a P/E ratio of 28.54 and a beta of 0.47.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The firm had revenue of $244.32 million during the quarter, compared to analyst estimates of $239.32 million. During the same period in the previous year, the company earned $0.10 EPS. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. As a group, analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

ACADIA Pharmaceuticals Company 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.