Dimensional Fund Advisors LP Acquires 243,082 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Dimensional Fund Advisors LP grew its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 28.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,086,840 shares of the biopharmaceutical company's stock after buying an additional 243,082 shares during the period. Dimensional Fund Advisors LP owned 0.65% of ACADIA Pharmaceuticals worth $19,932,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. SG Americas Securities LLC raised its stake in ACADIA Pharmaceuticals by 380.3% during the 4th quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company's stock valued at $45,576,000 after acquiring an additional 1,966,607 shares in the last quarter. Barclays PLC raised its stake in shares of ACADIA Pharmaceuticals by 126.2% during the third quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company's stock valued at $4,269,000 after purchasing an additional 154,854 shares in the last quarter. Burney Co. bought a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter valued at about $6,953,000. Proficio Capital Partners LLC bought a new position in ACADIA Pharmaceuticals in the 4th quarter valued at about $272,000. Finally, Vanguard Group Inc. increased its stake in 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 buying an additional 104,444 shares during the period. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity 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 shares were sold at an average price of $18.23, for a total value of $89,673.37. Following the completion of the sale, the director now owns 17,595 shares of the company's stock, valued at approximately $320,756.85. The trade was a 21.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark C. Schneyer sold 3,498 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $14.60, for a total value of $51,070.80. Following the transaction, the executive vice president now owns 62,773 shares in the company, 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. Over the last 90 days, insiders sold 18,994 shares of company stock valued at $313,131. Insiders own 26.50% of the company's stock.

ACADIA Pharmaceuticals Trading Up 3.0 %

Shares of ACAD traded up $0.51 during midday trading on Friday, hitting $17.44. The stock had a trading volume of 2,854,983 shares, compared to its average volume of 1,855,937. The business has a 50-day simple moving average of $15.83 and a two-hundred day simple moving average of $16.96. The firm has a market cap of $2.92 billion, a P/E ratio of 22.36 and a beta of 0.47. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $13.40 and a fifty-two week high of $20.68.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share (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 firm had revenue of $244.32 million during the quarter, compared to the consensus estimate of $239.32 million. During the same period in the prior year, the business earned $0.10 EPS. The business's revenue for the quarter was up 18.7% on a year-over-year basis. On average, analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ACAD has been the subject of a number of research analyst reports. StockNews.com raised shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, March 8th. Deutsche Bank Aktiengesellschaft began 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. Needham & Company LLC reiterated a "buy" rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Tuesday, April 8th. Morgan Stanley restated an "equal weight" rating and issued a $20.00 price objective on shares of ACADIA Pharmaceuticals in a report on Friday, March 7th. Finally, UBS Group lowered their target price on ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Four equities research 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 company has an average rating of "Moderate Buy" and an average target price of $24.70.

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.