634,520 Shares in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Purchased by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC bought a new position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 634,520 shares of the biopharmaceutical company's stock, valued at approximately $11,643,000. Cubist Systematic Strategies LLC owned 0.38% of ACADIA Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its stake in ACADIA Pharmaceuticals by 380.3% in the 4th quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company's stock worth $45,576,000 after purchasing an additional 1,966,607 shares during the period. Norges Bank acquired a new stake in ACADIA Pharmaceuticals during the fourth quarter worth approximately $25,555,000. Renaissance Technologies LLC lifted its holdings in shares of ACADIA Pharmaceuticals by 204.2% during the fourth quarter. Renaissance Technologies LLC now owns 1,226,533 shares of the biopharmaceutical company's stock worth $22,507,000 after buying an additional 823,333 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of ACADIA Pharmaceuticals by 27.0% in 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 buying an additional 574,251 shares during the period. Finally, Great Lakes Advisors LLC acquired a new stake in ACADIA Pharmaceuticals during the fourth quarter worth about $9,909,000. 96.71% of the stock is currently owned by institutional investors.

ACADIA Pharmaceuticals Stock Performance

ACAD stock traded down $0.15 during mid-day trading on Monday, hitting $17.29. The company had a trading volume of 1,150,836 shares, compared to its average volume of 1,853,317. The firm has a market cap of $2.89 billion, a PE ratio of 22.11 and a beta of 0.47. ACADIA Pharmaceuticals Inc. has a 12 month low of $13.40 and a 12 month high of $20.68. The stock's fifty day moving average price is $15.83 and its two-hundred day moving average price is $16.98.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $239.32 million. During the same period last year, the business posted $0.10 earnings per share. The business's revenue for the quarter was up 18.7% on a year-over-year basis. Equities analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ACAD. Deutsche Bank Aktiengesellschaft initiated coverage on shares of ACADIA Pharmaceuticals in a report on Tuesday, February 11th. They set a "hold" rating and a $22.00 price target for the company. StockNews.com raised shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday, March 8th. Needham & Company LLC reaffirmed a "buy" rating and set a $28.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Tuesday, April 8th. HC Wainwright reaffirmed a "buy" rating and issued a $27.00 target price on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Finally, Morgan Stanley restated an "equal weight" rating and set a $20.00 price objective on shares of ACADIA Pharmaceuticals in a report on Friday, March 7th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $24.70.

Insider Buying and Selling

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 4,919 shares of ACADIA Pharmaceuticals stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total transaction of $89,673.37. Following the completion of the transaction, the director now owns 17,595 shares of the company's stock, valued at $320,756.85. The trade was a 21.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark C. Schneyer sold 2,708 shares of the stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $14.82, for a total transaction of $40,132.56. Following the completion of the sale, the executive vice president now directly owns 59,456 shares in the company, valued at approximately $881,137.92. The trade was a 4.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,994 shares of company stock valued at $313,131. 26.50% of the stock is owned by insiders.

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.