D. E. Shaw & Co. Inc. Raises Stock Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

D. E. Shaw & Co. Inc. lifted its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 11.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,934,926 shares of the biopharmaceutical company’s stock after purchasing an additional 292,906 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in ACADIA Pharmaceuticals were worth $47,693,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Fisher Asset Management LLC acquired a new stake in ACADIA Pharmaceuticals during the 4th quarter worth approximately $4,479,000. Perceptive Advisors LLC purchased a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth $3,162,000. UBS Group AG raised its stake in shares of ACADIA Pharmaceuticals by 112.4% in the fourth quarter. UBS Group AG now owns 307,359 shares of the biopharmaceutical company’s stock valued at $9,623,000 after acquiring an additional 162,663 shares in the last quarter. M&G Plc purchased a new position in ACADIA Pharmaceuticals in the first quarter valued at $5,622,000. Finally, Capital Fund Management S.A. grew its stake in ACADIA Pharmaceuticals by 38.8% during the 4th quarter. Capital Fund Management S.A. now owns 243,812 shares of the biopharmaceutical company’s stock worth $7,634,000 after purchasing an additional 68,120 shares in the last quarter. Hedge funds and other institutional investors own 96.71% of the company’s stock.

Insider Activity

In related news, COO Brendan Teehan sold 9,534 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $145,679.52. Following the completion of the sale, the chief operating officer now owns 52,177 shares in the company, valued at approximately $797,264.56. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other ACADIA Pharmaceuticals news, CEO Stephen Davis sold 31,747 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $485,094.16. Following the transaction, the chief executive officer now directly owns 186,555 shares in the company, valued at approximately $2,850,560.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brendan Teehan sold 9,534 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $145,679.52. Following the sale, the chief operating officer now owns 52,177 shares of the company’s stock, valued at approximately $797,264.56. The disclosure for this sale can be found here. Insiders have sold 51,014 shares of company stock valued at $779,494 in the last ninety days. 28.30% of the stock is currently owned by company insiders.

ACADIA Pharmaceuticals Stock Performance

ACAD opened at $15.69 on Friday. ACADIA Pharmaceuticals Inc. has a one year low of $14.55 and a one year high of $32.59. The stock has a market capitalization of $2.59 billion, a P/E ratio of -1,569.00, a price-to-earnings-growth ratio of 0.55 and a beta of 0.40. The business’s 50-day simple moving average is $16.57 and its 200-day simple moving average is $16.61.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last released its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.18 by $0.02. ACADIA Pharmaceuticals had a return on equity of 6.89% and a net margin of 3.43%. The company had revenue of $241.96 million for the quarter, compared to analyst estimates of $235.95 million. During the same quarter in the previous year, the company posted $0.01 earnings per share. The firm’s revenue was up 46.4% compared to the same quarter last year. On average, equities research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Morgan Stanley lowered ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $28.00 to $20.00 in a research report on Wednesday, August 7th. StockNews.com raised shares of ACADIA Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, September 13th. HC Wainwright reiterated a “buy” rating and set a $27.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, August 8th. Royal Bank of Canada dropped their price objective on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, Needham & Company LLC decreased their price objective on shares of ACADIA Pharmaceuticals from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $25.56.

ACADIA Pharmaceuticals 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.