Alpine Global Management LLC Purchases Shares of 55,566 ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Alpine Global Management LLC acquired a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 55,566 shares of the biopharmaceutical company's stock, valued at approximately $1,020,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ACAD. Virtus Fund Advisers LLC acquired a new position in ACADIA Pharmaceuticals in the fourth quarter worth $39,000. R Squared Ltd acquired a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at about $47,000. KBC Group NV raised its stake in shares of ACADIA Pharmaceuticals by 67.0% in the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company's stock worth $93,000 after acquiring an additional 2,044 shares during the last quarter. Globeflex Capital L P acquired a new position in shares of ACADIA Pharmaceuticals during the fourth quarter worth approximately $168,000. Finally, Xponance Inc. bought a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter valued at approximately $186,000. Institutional investors own 96.71% of the company's stock.

Insider Activity at ACADIA Pharmaceuticals

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on ACAD shares. Mizuho lifted their price target on shares of ACADIA Pharmaceuticals from $20.00 to $23.00 and gave the stock a "neutral" rating in a research report on Monday, May 19th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $26.00 price target on shares of ACADIA Pharmaceuticals in a research report on Monday, May 19th. Deutsche Bank Aktiengesellschaft upgraded ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating and raised their price objective for the company from $20.00 to $35.00 in a report on Wednesday, May 21st. Morgan Stanley set a $24.00 price target on shares of ACADIA Pharmaceuticals and gave the stock an "equal weight" rating in a research report on Tuesday, May 20th. Finally, UBS Group reduced their target price on ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $26.83.

ACADIA Pharmaceuticals Trading Down 0.6%

Shares of ACAD traded down $0.14 on Wednesday, reaching $22.05. 465,951 shares of the company's stock traded hands, compared to its average volume of 1,928,400. The stock's 50 day simple moving average is $16.57 and its two-hundred day simple moving average is $17.39. The stock has a market cap of $3.69 billion, a PE ratio of 28.24 and a beta of 0.47. ACADIA Pharmaceuticals Inc. has a 52-week low of $13.40 and a 52-week high of $25.23.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. The business 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 business's revenue for the quarter was up 18.7% on a year-over-year basis. During the same period last year, the business posted $0.10 earnings per share. Analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current 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.