Point72 Asset Management L.P. Purchases New Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Point72 Asset Management L.P. acquired a new position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 2,230,815 shares of the biopharmaceutical company's stock, valued at approximately $40,935,000. Point72 Asset Management L.P. owned approximately 1.34% of ACADIA Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of ACAD. Vanguard Group Inc. boosted its holdings in shares of ACADIA Pharmaceuticals by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 13,947,640 shares of the biopharmaceutical company's stock valued at $255,939,000 after acquiring an additional 104,444 shares during the last quarter. First Trust Advisors LP lifted its position in ACADIA Pharmaceuticals by 27.0% during the fourth quarter. First Trust Advisors LP now owns 2,700,125 shares of the biopharmaceutical company's stock valued at $49,547,000 after purchasing an additional 574,251 shares during the period. SG Americas Securities LLC lifted its position in ACADIA Pharmaceuticals by 380.3% during the fourth quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company's stock valued at $45,576,000 after purchasing an additional 1,966,607 shares during the period. Norges Bank purchased a new stake in ACADIA Pharmaceuticals in the fourth quarter worth approximately $25,555,000. Finally, Northern Trust Corp grew its position in ACADIA Pharmaceuticals by 9.4% in the 4th quarter. Northern Trust Corp now owns 1,232,366 shares of the biopharmaceutical company's stock worth $22,614,000 after purchasing an additional 106,236 shares during the period. 96.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 4,919 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total transaction of $89,673.37. Following the completion of the sale, the director now directly owns 17,595 shares of the company's stock, valued at $320,756.85. This trade represents a 21.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark C. Schneyer sold 3,498 shares of the business's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $14.60, for a total transaction of $51,070.80. Following the completion of the transaction, the executive vice president now directly owns 62,773 shares in the company, valued at $916,485.80. This trade represents a 5.28% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,994 shares of company stock worth $313,131. Corporate insiders own 26.50% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ACAD. Cantor Fitzgerald reissued an "overweight" rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Morgan Stanley reissued an "equal weight" rating and issued a $20.00 target price on shares of ACADIA Pharmaceuticals in a report on Friday, March 7th. Deutsche Bank Aktiengesellschaft started coverage on ACADIA Pharmaceuticals in a research note on Tuesday, February 11th. They set a "hold" rating and a $22.00 price target for the company. Oppenheimer reaffirmed a "market perform" rating on shares of ACADIA Pharmaceuticals in a research report on Friday. Finally, UBS Group dropped their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $25.42.

ACADIA Pharmaceuticals Trading Down 1.2%

NASDAQ ACAD traded down $0.27 on Monday, reaching $21.99. 4,053,965 shares of the stock were exchanged, compared to its average volume of 1,928,461. ACADIA Pharmaceuticals Inc. has a one year low of $13.40 and a one year high of $25.23. The firm has a market capitalization of $3.68 billion, a PE ratio of 28.19 and a beta of 0.47. The company's 50-day simple moving average is $15.91 and its two-hundred day simple moving average is $17.11.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The firm had revenue of $244.32 million for the quarter, compared to the consensus estimate of $239.32 million. During the same period last year, the firm earned $0.10 EPS. The company's revenue was up 18.7% on a year-over-year basis. Sell-side analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

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.