Fifth Third Bancorp lifted its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Free Report) by 5,053.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 31,694 shares of the biopharmaceutical company’s stock after acquiring an additional 31,079 shares during the quarter. Fifth Third Bancorp’s holdings in ACADIA Pharmaceuticals were worth $706,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC boosted its position in ACADIA Pharmaceuticals by 67.5% during the fourth quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 386 shares during the last quarter. Cetera Investment Advisers increased its position in shares of ACADIA Pharmaceuticals by 2.7% during the 4th quarter. Cetera Investment Advisers now owns 16,355 shares of the biopharmaceutical company’s stock worth $437,000 after purchasing an additional 436 shares during the last quarter. J.W. Cole Advisors Inc. raised its stake in shares of ACADIA Pharmaceuticals by 2.5% during the 4th quarter. J.W. Cole Advisors Inc. now owns 20,632 shares of the biopharmaceutical company’s stock worth $551,000 after purchasing an additional 501 shares in the last quarter. Pallas Capital Advisors LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 4.0% in the 4th quarter. Pallas Capital Advisors LLC now owns 13,192 shares of the biopharmaceutical company’s stock valued at $352,000 after buying an additional 512 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in shares of ACADIA Pharmaceuticals by 2.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 28,666 shares of the biopharmaceutical company’s stock valued at $766,000 after buying an additional 566 shares during the last quarter. Institutional investors own 96.71% of the company’s stock.
Insider Activity
In other news, EVP Mark C. Schneyer sold 3,506 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $21.79, for a total transaction of $76,395.74. Following the transaction, the executive vice president directly owned 66,145 shares of the company’s stock, valued at approximately $1,441,299.55. This trade represents a 5.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James Kihara sold 5,401 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $21.18, for a total transaction of $114,393.18. Following the completion of the sale, the insider owned 24,509 shares of the company’s stock, valued at approximately $519,100.62. The trade was a 18.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 10,239 shares of company stock valued at $219,813 in the last quarter. Corporate insiders own 26.20% of the company’s stock.
ACADIA Pharmaceuticals Price Performance
ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) last posted its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). ACADIA Pharmaceuticals had a return on equity of 9.61% and a net margin of 34.30%.The firm had revenue of $268.10 million for the quarter, compared to analyst estimates of $280.25 million. During the same period in the prior year, the business posted $0.11 EPS. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.39 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of brokerages recently weighed in on ACAD. HC Wainwright downgraded shares of ACADIA Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, June 30th. Weiss Ratings cut shares of ACADIA Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Stifel Nicolaus lifted their price objective on shares of ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Citigroup boosted their price objective on shares of ACADIA Pharmaceuticals from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $37.00 target price on shares of ACADIA Pharmaceuticals in a report on Monday, June 29th. Thirteen research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $33.17.
Get Our Latest Report on ACADIA Pharmaceuticals
About ACADIA Pharmaceuticals
ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA’s research centers concentrate on conditions with significant unmet medical needs, including Parkinson’s disease psychosis, Alzheimer’s disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.
The company’s flagship product, NUPLAZID® (pimavanserin), received U.S.
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