Cetera Investment Advisers Purchases New Stake in ACADIA Pharmaceuticals Inc. $ACAD

Key Points

• Cetera Investment Advisers purchased 11,832 shares of ACADIA Pharmaceuticals valued at approximately $197,000, marking an interest from institutional investors during the first quarter.
• ACADIA Pharmaceuticals reported a 0.16 EPS for the latest quarter, beating analyst expectations, with a net margin of 21.80% and a revenue of $264.57 million, reflecting a 9.4% year-over-year increase.
• Research analysts have given a consensus rating of "Moderate Buy" for ACADIA Pharmaceuticals, with a price target averaging $28.88, indicating positive growth outlook for the company's stock.

Cetera Investment Advisers acquired a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 11,832 shares of the biopharmaceutical company's stock, valued at approximately $197,000.

Other institutional investors also recently made changes to their positions in the company. Exchange Traded Concepts LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the 1st quarter worth about $29,000. Virtus Fund Advisers LLC acquired a new position in shares of ACADIA Pharmaceuticals during the fourth quarter worth approximately $39,000. GF Fund Management CO. LTD. bought a new position in ACADIA Pharmaceuticals in the 4th quarter worth approximately $64,000. GAMMA Investing LLC increased its position in ACADIA Pharmaceuticals by 627.3% in the 1st quarter. GAMMA Investing LLC now owns 3,513 shares of the biopharmaceutical company's stock valued at $58,000 after acquiring an additional 3,030 shares during the period. Finally, CWM LLC raised its stake in ACADIA Pharmaceuticals by 50.1% during the 1st quarter. CWM LLC now owns 5,845 shares of the biopharmaceutical company's stock valued at $97,000 after acquiring an additional 1,951 shares in the last quarter. 96.71% of the stock is owned by institutional investors.

Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, EVP Mark C. Schneyer sold 22,000 shares of ACADIA Pharmaceuticals stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $25.18, for a total value of $553,960.00. Following the transaction, the executive vice president owned 40,130 shares of the company's stock, valued at approximately $1,010,473.40. This trade represents a 35.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Laura Brege sold 14,446 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $21.78, for a total value of $314,633.88. Following the sale, the director owned 15,095 shares in the company, valued at approximately $328,769.10. The trade was a 48.90% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 28.30% of the company's stock.

ACADIA Pharmaceuticals Stock Down 1.6%

NASDAQ:ACAD traded down $0.42 during trading hours on Monday, reaching $25.32. 2,042,257 shares of the company's stock were exchanged, compared to its average volume of 1,963,269. The company has a market capitalization of $4.27 billion, a P/E ratio of 19.04, a price-to-earnings-growth ratio of 6.55 and a beta of 0.70. ACADIA Pharmaceuticals Inc. has a 12 month low of $13.40 and a 12 month high of $25.95. The business's 50-day simple moving average is $23.09 and its two-hundred day simple moving average is $19.77.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. The company had revenue of $264.57 million for the quarter, compared to analysts' expectations of $263.07 million. ACADIA Pharmaceuticals had a return on equity of 14.69% and a net margin of 21.80%.The firm's revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 earnings per share. As a group, sell-side analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ACAD shares. Deutsche Bank Aktiengesellschaft upgraded shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating and lifted their price objective for the company from $20.00 to $35.00 in a research note on Wednesday, May 21st. Citigroup restated an "outperform" rating on shares of ACADIA Pharmaceuticals in a research report on Thursday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of ACADIA Pharmaceuticals from $30.00 to $34.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Mizuho raised their price objective on shares of ACADIA Pharmaceuticals from $23.00 to $24.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Finally, JMP Securities boosted their target price on ACADIA Pharmaceuticals from $37.00 to $38.00 and gave the stock a "market outperform" rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $28.88.

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.