State of Wyoming bought a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD – Free Report) during the second quarter, Holdings Channel.com reports. The fund bought 48,794 shares of the biopharmaceutical company’s stock, valued at approximately $1,234,000.
Other large investors have also recently made changes to their positions in the company. Royal Bank of Canada increased its position in ACADIA Pharmaceuticals by 74.4% during the first quarter. Royal Bank of Canada now owns 80,528 shares of the biopharmaceutical company’s stock worth $1,338,000 after buying an additional 34,352 shares during the period. AQR Capital Management LLC grew its position in shares of ACADIA Pharmaceuticals by 3.8% during the first quarter. AQR Capital Management LLC now owns 67,672 shares of the biopharmaceutical company’s stock worth $1,124,000 after acquiring an additional 2,492 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of ACADIA Pharmaceuticals by 7.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 89,952 shares of the biopharmaceutical company’s stock valued at $1,498,000 after acquiring an additional 6,303 shares during the period. Empowered Funds LLC purchased a new stake in ACADIA Pharmaceuticals in the 1st quarter valued at $186,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in ACADIA Pharmaceuticals by 14.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 251,056 shares of the biopharmaceutical company’s stock worth $4,170,000 after purchasing an additional 31,931 shares during the period. 96.71% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts have commented on ACAD shares. 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 note on Tuesday, July 21st. Oppenheimer raised their price target on ACADIA Pharmaceuticals from $23.00 to $25.00 and gave the stock a “market perform” rating in a report on Wednesday, August 5th. Royal Bank Of Canada upped their price objective on ACADIA Pharmaceuticals from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Needham & Company LLC lifted their target price on ACADIA Pharmaceuticals from $38.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, HC Wainwright restated a “buy” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 6th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $33.69.
ACADIA Pharmaceuticals Trading Down 0.5%
Shares of ACAD opened at $28.24 on Friday. ACADIA Pharmaceuticals Inc. has a twelve month low of $19.69 and a twelve month high of $29.85. The stock’s 50 day moving average is $25.14 and its two-hundred day moving average is $23.35. The firm has a market capitalization of $4.87 billion, a PE ratio of 12.72, a P/E/G ratio of 22.24 and a beta of 0.81.
ACADIA Pharmaceuticals (NASDAQ:ACAD – Get Free Report) last issued its earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.11. The business had revenue of $308.00 million during the quarter, compared to the consensus estimate of $296.55 million. ACADIA Pharmaceuticals had a return on equity of 9.03% and a net margin of 33.42%.The company’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 EPS. On average, sell-side analysts predict that ACADIA Pharmaceuticals Inc. will post 0.59 EPS for the current year.
Insiders Place Their Bets
In other ACADIA Pharmaceuticals news, insider James Kihara sold 5,401 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $21.18, for a total value 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. This trade represents a 18.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark C. Schneyer sold 14,292 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $29.22, for a total transaction of $417,612.24. Following the sale, the executive vice president owned 67,828 shares in the company, valued at $1,981,934.16. The trade was a 17.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 42,100 shares of company stock worth $1,134,287. 26.20% of the stock is owned by corporate insiders.
ACADIA Pharmaceuticals Company Profile
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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