Capital Impact Advisors LLC Raises Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Capital Impact Advisors LLC boosted its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 153.4% during the second quarter, Holdings Channel.com reports. The firm owned 24,540 shares of the biopharmaceutical company’s stock after buying an additional 14,854 shares during the period. Capital Impact Advisors LLC’s holdings in ACADIA Pharmaceuticals were worth $399,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. UBS Group AG increased 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 worth $9,623,000 after buying an additional 162,663 shares during the period. Franklin Resources Inc. increased its position in shares of ACADIA Pharmaceuticals by 1.6% in the fourth quarter. Franklin Resources Inc. now owns 50,405 shares of the biopharmaceutical company’s stock valued at $1,578,000 after acquiring an additional 803 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in shares of ACADIA Pharmaceuticals during the fourth quarter valued at about $2,108,000. Rafferty Asset Management LLC grew its stake in shares of ACADIA Pharmaceuticals by 27.1% in the fourth quarter. Rafferty Asset Management LLC now owns 427,930 shares of the biopharmaceutical company’s stock worth $13,398,000 after purchasing an additional 91,317 shares during the last quarter. Finally, First Trust Advisors LP grew its stake 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 worth $55,647,000 after purchasing an additional 148,526 shares during the last quarter. 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 that occurred on Monday, August 19th. The shares were sold at an average price of $15.28, for a total value of $145,679.52. Following the completion of the sale, the chief operating officer now directly owns 52,177 shares of the company’s stock, valued at approximately $797,264.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other ACADIA Pharmaceuticals news, COO Brendan Teehan sold 9,534 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $15.28, for a total transaction of $145,679.52. Following the sale, the chief operating officer now directly owns 52,177 shares of the company’s stock, valued at $797,264.56. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Stephen Davis sold 31,747 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $15.28, for a total value of $485,094.16. Following the completion of the transaction, the chief executive officer now directly owns 186,555 shares of the company’s stock, valued at approximately $2,850,560.40. The disclosure for this sale can be found here. Insiders sold a total of 51,014 shares of company stock valued at $779,494 in the last 90 days. Company insiders own 28.30% of the company’s stock.

ACADIA Pharmaceuticals Trading Up 1.4 %

Shares of ACAD stock opened at $15.69 on Monday. ACADIA Pharmaceuticals Inc. has a 12-month low of $14.55 and a 12-month high of $32.59. The stock has a market capitalization of $2.59 billion, a P/E ratio of -1,569.00, a P/E/G ratio of 0.55 and a beta of 0.40. The firm’s 50 day moving average is $16.57 and its 200 day moving average is $16.56.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last announced its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.20 earnings per share (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 business had revenue of $241.96 million for the quarter, compared to analysts’ expectations of $235.95 million. During the same period last year, the firm posted $0.01 earnings per share. The business’s revenue for the quarter was up 46.4% on a year-over-year basis. As a group, equities analysts predict that ACADIA Pharmaceuticals Inc. will post 0.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ACAD shares. Cantor Fitzgerald decreased their price objective on shares of ACADIA Pharmaceuticals from $37.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Morgan Stanley lowered shares of ACADIA Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $28.00 to $20.00 in a report on Wednesday, August 7th. Citigroup reduced their target price on ACADIA Pharmaceuticals from $30.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. HC Wainwright restated a “buy” rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, August 8th. Finally, StockNews.com raised ACADIA Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 13th. 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 stock. According to MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $25.56.

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.