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

Several other hedge funds and other institutional investors also recently modified their holdings of ACAD. Assenagon Asset Management S.A. acquired a new stake in shares of ACADIA Pharmaceuticals during the 1st quarter valued at $60,845,000. Point72 Asset Management L.P. acquired a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter valued at $40,935,000. Two Sigma Advisers LP boosted its holdings in shares of ACADIA Pharmaceuticals by 160.8% during the 4th quarter. Two Sigma Advisers LP now owns 1,263,200 shares of the biopharmaceutical company's stock valued at $23,180,000 after acquiring an additional 778,900 shares in the last quarter. Two Sigma Investments LP boosted its holdings in shares of ACADIA Pharmaceuticals by 12.0% during the 4th quarter. Two Sigma Investments LP now owns 1,243,442 shares of the biopharmaceutical company's stock valued at $22,817,000 after acquiring an additional 133,186 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of ACADIA Pharmaceuticals by 9.4% during the 4th quarter. Northern Trust Corp now owns 1,232,366 shares of the biopharmaceutical company's stock valued at $22,614,000 after acquiring an additional 106,236 shares in the last quarter. Institutional investors own 96.71% of the company's stock.

Insider Transactions at ACADIA Pharmaceuticals

In related news, EVP Mark C. Schneyer sold 22,000 shares of the business's 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 completion of the sale, the executive vice president directly owned 40,130 shares of the company's stock, valued at $1,010,473.40. The trade was a 35.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Laura Brege sold 14,446 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $21.78, for a total value of $314,633.88. Following the completion of the sale, the director directly owned 15,095 shares of the company's stock, valued at $328,769.10. The trade was a 48.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 26.50% of the company's stock.

Wall Street Analysts Forecast Growth

ACAD has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price objective on ACADIA Pharmaceuticals from $30.00 to $34.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Bank of America raised their price objective on ACADIA Pharmaceuticals from $18.00 to $23.00 and gave the company a "hold" rating in a report on Thursday, June 5th. Royal Bank Of Canada raised their price objective on ACADIA Pharmaceuticals from $39.00 to $40.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Cantor Fitzgerald raised ACADIA Pharmaceuticals to a "strong-buy" rating in a report on Thursday, June 5th. Finally, Mizuho lifted their target price on ACADIA Pharmaceuticals from $23.00 to $24.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $28.88.

ACADIA Pharmaceuticals Stock Down 1.3%

ACAD traded down $0.34 during midday trading on Thursday, hitting $26.23. 2,210,997 shares of the company were exchanged, compared to its average volume of 2,017,302. The firm has a market capitalization of $4.43 billion, a P/E ratio of 19.72, a P/E/G ratio of 6.76 and a beta of 0.70. The firm's 50 day moving average price is $23.28 and its 200-day moving average price is $19.90. ACADIA Pharmaceuticals Inc. has a 1-year low of $13.40 and a 1-year high of $26.65.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The company had revenue of $264.57 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.20 EPS. On average, sell-side analysts predict 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.