Rhumbline Advisers Has $3.03 Million Stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Rhumbline Advisers raised its stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 1.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 186,500 shares of the biopharmaceutical company’s stock after purchasing an additional 2,121 shares during the period. Rhumbline Advisers owned 0.11% of ACADIA Pharmaceuticals worth $3,031,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ACAD. First Trust Advisors LP boosted its holdings in ACADIA Pharmaceuticals by 9.1% during 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. Jupiter Asset Management Ltd. boosted its holdings in ACADIA Pharmaceuticals by 21.3% during the first quarter. Jupiter Asset Management Ltd. now owns 1,603,774 shares of the biopharmaceutical company’s stock worth $29,654,000 after purchasing an additional 281,410 shares during the last quarter. Norges Bank purchased a new position in ACADIA Pharmaceuticals during the fourth quarter worth about $45,187,000. Charles Schwab Investment Management Inc. boosted its holdings in ACADIA Pharmaceuticals by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,127,907 shares of the biopharmaceutical company’s stock worth $35,315,000 after purchasing an additional 54,814 shares during the last quarter. Finally, Frontier Capital Management Co. LLC boosted its holdings in ACADIA Pharmaceuticals by 8.7% during the fourth quarter. Frontier Capital Management Co. LLC now owns 823,586 shares of the biopharmaceutical company’s stock worth $25,786,000 after purchasing an additional 65,973 shares during the last quarter. 96.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ACAD shares. Needham & Company LLC dropped their target price on shares of ACADIA Pharmaceuticals from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada dropped their target price on shares of ACADIA Pharmaceuticals from $29.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. BMO Capital Markets started coverage on shares of ACADIA Pharmaceuticals in a research note on Thursday, June 27th. They issued an “outperform” rating and a $31.00 target price on the stock. UBS Group dropped their target price on shares of ACADIA Pharmaceuticals from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, StockNews.com upgraded shares of 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $25.56.

Insider Buying and Selling

In related news, CEO Stephen Davis sold 31,747 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $485,094.16. Following the sale, the chief executive officer now owns 186,555 shares of the company’s stock, valued at approximately $2,850,560.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Stephen Davis sold 31,747 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $15.28, for a total transaction of $485,094.16. Following the sale, the chief executive officer now owns 186,555 shares of the company’s stock, valued at approximately $2,850,560.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $145,679.52. Following the sale, the chief operating officer now directly owns 52,177 shares in the company, valued at approximately $797,264.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,014 shares of company stock valued at $779,494. Company insiders own 28.30% of the company’s stock.

ACADIA Pharmaceuticals Trading Up 0.7 %

ACADIA Pharmaceuticals stock opened at $16.26 on Wednesday. The firm’s 50 day simple moving average is $16.90 and its 200 day simple moving average is $16.99. The firm has a market capitalization of $2.69 billion, a PE ratio of -1,638.00, a price-to-earnings-growth ratio of 0.53 and a beta of 0.40. ACADIA Pharmaceuticals Inc. has a 1-year low of $14.55 and a 1-year high of $32.59.

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

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.