51,410 Shares in ACADIA Pharmaceuticals Inc. $ACAD Bought by Jupiter Topco LLC

Key Points

• Jupiter Topco LLC purchased 51,410 ACADIA Pharmaceuticals shares during the second quarter, valued at approximately $1.3 million. Institutional investors collectively own 96.71% of the company.
• ACADIA reported quarterly EPS of $0.18, beating estimates of $0.07, while revenue rose 16.4% year over year to $308 million. Shares recently opened at $28.02, within a 52-week range of $19.69 to $30.96.
• Analyst sentiment remains positive, with 14 Buy ratings and four Holds producing a “Moderate Buy” consensus and an average price target of $34.36. Company insiders, however, sold 36,699 shares worth about $1.02 million over the past three months.

Jupiter Topco LLC bought a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 51,410 shares of the biopharmaceutical company's stock, valued at approximately $1,301,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of ACAD. Royal Bank of Canada boosted its holdings in ACADIA Pharmaceuticals by 74.4% in the 1st quarter. Royal Bank of Canada now owns 80,528 shares of the biopharmaceutical company's stock valued at $1,338,000 after purchasing an additional 34,352 shares in the last quarter. AQR Capital Management LLC grew its holdings in ACADIA Pharmaceuticals by 3.8% in the first quarter. AQR Capital Management LLC now owns 67,672 shares of the biopharmaceutical company's stock valued at $1,124,000 after purchasing an additional 2,492 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in ACADIA Pharmaceuticals by 7.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 89,952 shares of the biopharmaceutical company's stock valued at $1,498,000 after purchasing an additional 6,303 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of ACADIA Pharmaceuticals in the first quarter valued at $186,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of ACADIA Pharmaceuticals by 14.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 251,056 shares of the biopharmaceutical company's stock valued at $4,170,000 after purchasing an additional 31,931 shares in the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD stock opened at $28.02 on Friday. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 20.77 and a beta of 0.86. The firm's 50-day moving average is $27.30 and its 200-day moving average is $23.88. ACADIA Pharmaceuticals Inc. has a 52-week low of $19.69 and a 52-week high of $30.96.

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, beating analysts' consensus estimates of $0.07 by $0.11. ACADIA Pharmaceuticals had a return on equity of 9.03% and a net margin of 33.42%.The business had revenue of $308.00 million during the quarter, compared to the consensus estimate of $296.55 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. ACADIA Pharmaceuticals's revenue for the quarter was up 16.4% compared to the same quarter last year. Sell-side analysts predict that ACADIA Pharmaceuticals Inc. will post 0.63 EPS for the current fiscal year.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Mark Schneyer sold 14,292 shares of the business's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $29.22, for a total transaction of $417,612.24. Following the completion of the sale, the executive vice president directly owned 67,828 shares of the company's stock, valued at approximately $1,981,934.16. The trade was a 17.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Elizabeth Thompson sold 16,558 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $26.13, for a total value of $432,660.54. Following the sale, the executive vice president directly owned 18,994 shares of the company's stock, valued at $496,313.22. The trade was a 46.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 36,699 shares of company stock valued at $1,019,894. 26.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on ACAD shares. Stifel Nicolaus increased their price target on shares of ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the stock a "hold" rating in a research note on Tuesday, July 21st. HC Wainwright reissued a "buy" rating on shares of ACADIA Pharmaceuticals in a report on Thursday, August 6th. Bank of America reiterated a "buy" rating and set a $14.50 price target on shares of ACADIA Pharmaceuticals in a research report on Wednesday, July 29th. Citizens Jmp raised their target price on shares of ACADIA Pharmaceuticals from $35.00 to $36.00 and gave the stock a "market outperform" rating in a report on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of ACADIA Pharmaceuticals from $37.00 to $38.00 and gave the company a "buy" rating in a research report on Tuesday, August 25th. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $34.36.

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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