Geode Capital Management LLC Acquires 30,826 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Geode Capital Management LLC lifted its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 1.1% during the third quarter, HoldingsChannel reports. The firm owned 2,875,540 shares of the biopharmaceutical company’s stock after purchasing an additional 30,826 shares during the quarter. Geode Capital Management LLC’s holdings in ACADIA Pharmaceuticals were worth $44,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Park Place Capital Corp purchased a new stake in ACADIA Pharmaceuticals during the third quarter worth about $25,000. Values First Advisors Inc. purchased a new stake in shares of ACADIA Pharmaceuticals during the 3rd quarter worth approximately $27,000. Quest Partners LLC raised its holdings in shares of ACADIA Pharmaceuticals by 42.3% in the 3rd quarter. Quest Partners LLC now owns 3,520 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 1,047 shares during the period. Stonepine Capital Management LLC purchased a new position in ACADIA Pharmaceuticals in the second quarter valued at approximately $81,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in ACADIA Pharmaceuticals by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,999 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 1,066 shares during the period. 96.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ACAD. Needham & Company LLC restated a “buy” rating and issued a $28.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, November 7th. StockNews.com cut ACADIA Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. HC Wainwright reiterated a “buy” rating and set a $27.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, November 7th. Finally, Raymond James reiterated a “market perform” rating on shares of ACADIA Pharmaceuticals in a research note on Thursday, October 10th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.60.

ACADIA Pharmaceuticals Stock Performance

NASDAQ:ACAD opened at $17.17 on Tuesday. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 22.01 and a beta of 0.40. The stock has a fifty day moving average of $16.29 and a 200 day moving average of $16.25. ACADIA Pharmaceuticals Inc. has a 52-week low of $14.15 and a 52-week high of $31.93.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The firm had revenue of $250.40 million during the quarter, compared to the consensus estimate of $248.83 million. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.40) EPS. Equities analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider James Kihara sold 4,073 shares of ACADIA Pharmaceuticals stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $16.81, for a total transaction of $68,467.13. Following the completion of the sale, the insider now directly owns 19,863 shares of the company’s stock, valued at approximately $333,897.03. The trade was a 17.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark C. Schneyer sold 10,259 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $16.81, for a total transaction of $172,453.79. Following the completion of the transaction, the chief financial officer now owns 53,302 shares of the company’s stock, valued at $896,006.62. This trade represents a 16.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,661 shares of company stock valued at $414,551 in the last quarter. Corporate insiders own 28.30% of the company’s stock.

About ACADIA Pharmaceuticals

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.