ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC boosted its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 3.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 67,474 shares of the biopharmaceutical company’s stock after buying an additional 2,295 shares during the quarter. Los Angeles Capital Management LLC’s holdings in ACADIA Pharmaceuticals were worth $1,248,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. RTW Investments LP grew its position in ACADIA Pharmaceuticals by 18.3% during the third quarter. RTW Investments LP now owns 11,576,537 shares of the biopharmaceutical company’s stock valued at $241,255,000 after buying an additional 1,793,288 shares during the period. Fred Alger Management LLC grew its position in shares of ACADIA Pharmaceuticals by 38.7% in the third quarter. Fred Alger Management LLC now owns 3,108,883 shares of the biopharmaceutical company’s stock valued at $64,789,000 after purchasing an additional 867,818 shares during the period. First Trust Advisors LP grew its position in shares of ACADIA Pharmaceuticals by 9.1% in the fourth quarter. First Trust Advisors LP now owns 1,777,307 shares of the biopharmaceutical company’s stock valued at $55,647,000 after purchasing an additional 148,526 shares during the period. Norges Bank acquired a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter valued at about $45,187,000. Finally, Northern Trust Corp grew its position in shares of ACADIA Pharmaceuticals by 4.9% in the third quarter. Northern Trust Corp now owns 1,220,677 shares of the biopharmaceutical company’s stock valued at $25,439,000 after purchasing an additional 57,555 shares during the period. Institutional investors and hedge funds own 96.71% of the company’s stock.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD stock opened at $15.30 on Monday. The firm’s 50-day moving average is $15.76 and its two-hundred day moving average is $21.54. ACADIA Pharmaceuticals Inc. has a 12 month low of $14.55 and a 12 month high of $33.99. The company has a market capitalization of $2.53 billion, a PE ratio of -1,528.47 and a beta of 0.40.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its earnings results on Wednesday, May 8th. The biopharmaceutical company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.06. ACADIA Pharmaceuticals had a negative net margin of 0.21% and a negative return on equity of 0.41%. The company had revenue of $205.83 million for the quarter, compared to the consensus estimate of $208.31 million. During the same period in the previous year, the firm earned ($0.27) earnings per share. ACADIA Pharmaceuticals’s quarterly revenue was up 73.8% compared to the same quarter last year. Sell-side analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.58 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Stifel Nicolaus dropped their target price on shares of ACADIA Pharmaceuticals from $26.00 to $21.00 and set a “hold” rating on the stock in a research report on Thursday, May 9th. Citigroup dropped their target price on shares of ACADIA Pharmaceuticals from $30.19 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. JPMorgan Chase & Co. decreased their price target on shares of ACADIA Pharmaceuticals from $29.00 to $25.00 and set an “overweight” rating on the stock in a research note on Monday, March 25th. Robert W. Baird decreased their price target on shares of ACADIA Pharmaceuticals from $31.00 to $28.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Finally, TheStreet raised shares of ACADIA Pharmaceuticals from a “d” rating to a “c” rating in a research note on Tuesday, February 27th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.94.

Insider Activity

In other news, CEO Stephen Davis sold 17,714 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $17.90, for a total value of $317,080.60. Following the sale, the chief executive officer now directly owns 118,842 shares of the company’s stock, valued at approximately $2,127,271.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Stephen Davis sold 17,714 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $17.90, for a total value of $317,080.60. Following the sale, the chief executive officer now directly owns 118,842 shares of the company’s stock, valued at approximately $2,127,271.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark C. Schneyer sold 5,434 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $17.90, for a total transaction of $97,268.60. Following the completion of the sale, the chief financial officer now directly owns 26,183 shares in the company, valued at $468,675.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,644 shares of company stock valued at $1,456,342. Company insiders own 28.30% of the company’s stock.

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.