Pacer Advisors Inc. Makes New $269,000 Investment in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Key Points

• Pacer Advisors Inc. has acquired a new position in ACADIA Pharmaceuticals, purchasing 16,224 shares valued at approximately $269,000 during the first quarter.
• ACADIA Pharmaceuticals' stock currently has a market cap of $3.94 billion, with shares trading at $23.53, down 1.3% recently.
• Analysts have mixed views on the stock, with a consensus rating of "Moderate Buy" and a consensus price target of $28.13 after multiple upgrades.

Pacer Advisors Inc. acquired a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 16,224 shares of the biopharmaceutical company's stock, valued at approximately $269,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ACAD. Assenagon Asset Management S.A. acquired a new stake in shares of ACADIA Pharmaceuticals during the 1st quarter worth about $60,845,000. Point72 Asset Management L.P. purchased a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth approximately $40,935,000. Norges Bank acquired a new position in ACADIA Pharmaceuticals during the fourth quarter worth $25,555,000. Renaissance Technologies LLC grew its holdings in ACADIA Pharmaceuticals by 204.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,226,533 shares of the biopharmaceutical company's stock valued at $22,507,000 after purchasing an additional 823,333 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of ACADIA Pharmaceuticals by 160.8% in the fourth 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. Hedge funds and other institutional investors own 96.71% of the company's stock.

ACADIA Pharmaceuticals Stock Up 0.4%

ACAD traded up $0.10 during trading on Wednesday, hitting $23.74. The company's stock had a trading volume of 844,697 shares, compared to its average volume of 2,176,531. The firm has a market cap of $3.97 billion, a PE ratio of 17.32, a P/E/G ratio of 6.69 and a beta of 0.70. ACADIA Pharmaceuticals Inc. has a one year low of $13.40 and a one year high of $25.23. The business's 50 day simple moving average is $22.25 and its 200-day simple moving average is $19.14.

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 analysts' consensus estimates of $0.10 by $0.01. ACADIA Pharmaceuticals had a net margin of 22.97% and a return on equity of 17.46%. The firm had revenue of $244.32 million during the quarter, compared to analysts' expectations of $239.32 million. During the same period in the previous year, the company earned $0.10 EPS. The firm's revenue for the quarter was up 18.7% compared to the same quarter last year. Equities research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ACAD shares. Morgan Stanley set a $24.00 price objective on ACADIA Pharmaceuticals and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. Bank of America raised their price target on shares of ACADIA Pharmaceuticals from $18.00 to $23.00 and gave the stock a "hold" rating in a research report on Thursday, June 5th. HC Wainwright reissued a "buy" rating and issued a $32.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft raised ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating and raised their price target for the stock from $20.00 to $35.00 in a report on Wednesday, May 21st. Finally, BMO Capital Markets lifted their target price on ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $28.13.

Insider Transactions at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 2,000 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $25.00, for a total transaction of $50,000.00. Following the sale, the executive vice president owned 62,130 shares of the company's stock, valued at approximately $1,553,250. The trade was a 3.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider James Kihara sold 4,000 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $22.50, for a total transaction of $90,000.00. Following the completion of the sale, the insider directly owned 20,395 shares in the company, valued at $458,887.50. This trade represents a 16.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,446 shares of company stock valued at $454,634 in the last 90 days. Insiders own 28.30% of the company's stock.

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.