CTC Alternative Strategies Ltd. Takes Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

CTC Alternative Strategies Ltd. purchased a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 55,133 shares of the biopharmaceutical company's stock, valued at approximately $1,012,000. ACADIA Pharmaceuticals makes up 1.2% of CTC Alternative Strategies Ltd.'s portfolio, making the stock its 13th biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Virtus Fund Advisers LLC bought a new position in ACADIA Pharmaceuticals during the fourth quarter worth $39,000. R Squared Ltd acquired a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth $47,000. KBC Group NV lifted its holdings in shares of ACADIA Pharmaceuticals by 67.0% during the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company's stock worth $93,000 after buying an additional 2,044 shares in the last quarter. Globeflex Capital L P acquired a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth $168,000. Finally, Xponance Inc. acquired a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth $186,000. 96.71% of the stock is owned by institutional investors.

ACADIA Pharmaceuticals Price Performance

Shares of ACADIA Pharmaceuticals stock traded up $0.36 during trading hours on Thursday, hitting $22.38. 458,050 shares of the company's stock traded hands, compared to its average volume of 1,929,956. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of 28.72 and a beta of 0.47. ACADIA Pharmaceuticals Inc. has a 12-month low of $13.40 and a 12-month high of $25.23. The company has a fifty day simple moving average of $16.68 and a 200-day simple moving average of $17.42.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. The company had revenue of $244.32 million during the quarter, compared to the consensus estimate of $239.32 million. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The firm's quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 EPS. On average, analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

Insider Activity

In related news, EVP Mark C. Schneyer sold 2,708 shares of the company's stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $14.82, for a total value of $40,132.56. Following the sale, the executive vice president now directly owns 59,456 shares of the company's stock, valued at $881,137.92. This represents a 4.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Elizabeth A. Garofalo sold 4,919 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total value of $89,673.37. Following the completion of the sale, the director now directly owns 17,595 shares in the company, valued at $320,756.85. This trade represents a 21.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,746 shares of company stock worth $428,221. 28.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ACAD has been the subject of a number of research reports. Cantor Fitzgerald reissued an "overweight" rating and set a $28.00 target price on shares of ACADIA Pharmaceuticals in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft raised ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating and lifted their target price for the stock from $20.00 to $35.00 in a report on Wednesday, May 21st. Royal Bank of Canada reissued an "outperform" rating and set a $26.00 target price on shares of ACADIA Pharmaceuticals in a report on Monday, May 19th. Robert W. Baird lifted their target price on ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Finally, HC Wainwright lifted their target price on ACADIA Pharmaceuticals from $27.00 to $32.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $26.83.

ACADIA Pharmaceuticals Company 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.