48,794 Shares in ACADIA Pharmaceuticals Inc. $ACAD Purchased by State of Wyoming

Key Points

• State of Wyoming purchased 48,794 ACADIA Pharmaceuticals shares during the second quarter, valued at approximately $1.23 million. Institutional investors collectively own 96.71% of the company.
• Analysts remain broadly positive, with 14 Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $33.69.
• ACADIA exceeded quarterly expectations, reporting $0.18 earnings per share versus $0.07 expected and $308 million in revenue, up 16.4% year over year. Shares opened at $28.24, near their 52-week high of $29.85, while insiders have sold 42,100 shares worth about $1.13 million over the past quarter.

State of Wyoming bought a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 48,794 shares of the biopharmaceutical company's stock, valued at approximately $1,234,000.

Other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in shares of ACADIA Pharmaceuticals by 67.5% in the 4th quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 386 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in ACADIA Pharmaceuticals during the fourth quarter worth about $26,000. Transamerica Financial Advisors LLC increased its position in shares of ACADIA Pharmaceuticals by 304.5% during the fourth quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company's stock valued at $36,000 after acquiring an additional 1,005 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of ACADIA Pharmaceuticals by 277.5% in the 4th quarter. Federated Hermes Inc. now owns 1,612 shares of the biopharmaceutical company's stock worth $43,000 after acquiring an additional 1,185 shares during the last quarter. Finally, Leonteq Securities AG purchased a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth approximately $52,000. Hedge funds and other institutional investors own 96.71% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on ACAD shares. BMO Capital Markets boosted their target price on ACADIA Pharmaceuticals from $34.00 to $36.00 and gave the company an "outperform" rating in a research report on Tuesday, July 21st. Citigroup increased their target price on ACADIA Pharmaceuticals from $35.00 to $39.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $37.00 target price on shares of ACADIA Pharmaceuticals in a research report on Monday, June 29th. Royal Bank Of Canada lifted their price objective on shares of ACADIA Pharmaceuticals from $36.00 to $37.00 and gave the company an "outperform" rating in a report on Wednesday, August 5th. Finally, Canaccord Genuity Group increased their target price on shares of ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the stock a "buy" rating in a report on Monday, June 29th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $33.69.

ACADIA Pharmaceuticals Stock Down 0.5%

Shares of NASDAQ:ACAD opened at $28.24 on Friday. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $19.69 and a fifty-two week high of $29.85. The firm's 50 day moving average price is $25.14 and its 200 day moving average price is $23.35. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 22.24 and a beta of 0.81.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.07 by $0.11. ACADIA Pharmaceuticals had a net margin of 33.42% and a return on equity of 9.03%. The company had revenue of $308.00 million during the quarter, compared to analysts' expectations of $296.55 million. During the same quarter in the previous year, the business posted $0.16 EPS. The firm's revenue was up 16.4% on a year-over-year basis. On average, equities analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.59 EPS for the current year.

Insider Activity at ACADIA Pharmaceuticals

In other news, EVP Mark C. Schneyer sold 14,292 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $29.22, for a total value of $417,612.24. Following the transaction, the executive vice president owned 67,828 shares in the company, valued at approximately $1,981,934.16. This represents a 17.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James Kihara sold 5,401 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $21.18, for a total value of $114,393.18. Following the sale, the insider owned 24,509 shares of the company's stock, valued at approximately $519,100.62. The trade was a 18.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 42,100 shares of company stock valued at $1,134,287 over the last quarter. 26.20% of the stock is owned by insiders.

ACADIA Pharmaceuticals Company Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA's research centers concentrate on conditions with significant unmet medical needs, including Parkinson's disease psychosis, Alzheimer's disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company's flagship product, NUPLAZID® (pimavanserin), received U.S.

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