76,900 Shares in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Purchased by Quantedge Capital Pte Ltd

Quantedge Capital Pte Ltd purchased a new position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 76,900 shares of the biopharmaceutical company's stock, valued at approximately $1,411,000.

A number of other large investors also recently bought and sold shares of ACAD. R Squared Ltd purchased a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $47,000. KBC Group NV lifted its position in shares of ACADIA Pharmaceuticals by 67.0% in the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company's stock valued at $93,000 after acquiring an additional 2,044 shares in the last quarter. Globeflex Capital L P purchased a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $168,000. Xponance Inc. purchased a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $186,000. Finally, Vinva Investment Management Ltd purchased a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $187,000. Institutional investors and hedge funds own 96.71% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ACAD shares. UBS Group decreased their target price on ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Deutsche Bank Aktiengesellschaft assumed coverage on ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They issued a "hold" rating and a $22.00 price target for the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $20.00 price target on shares of ACADIA Pharmaceuticals in a report on Friday, March 7th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a report on Tuesday, April 8th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $24.70.

Insider Transactions at ACADIA Pharmaceuticals

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

ACADIA Pharmaceuticals Stock Down 0.2%

ACAD stock opened at $17.16 on Thursday. The business has a fifty day moving average of $15.80 and a two-hundred day moving average of $17.00. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of 22.00 and a beta of 0.47. ACADIA Pharmaceuticals Inc. has a 52-week low of $13.40 and a 52-week high of $20.68.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The business had revenue of $244.32 million during the quarter, compared to analyst estimates of $239.32 million. During the same period last year, the business posted $0.10 earnings per share. The company's quarterly revenue was up 18.7% on a year-over-year basis. As a group, sell-side analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 EPS 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.

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