Alpine Global Management LLC Makes New Investment in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Alpine Global Management LLC acquired a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) during the fourth quarter, according to its most recent 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.

A number of other hedge funds and other institutional investors have also modified their holdings of ACAD. Barclays PLC raised its holdings in shares of ACADIA Pharmaceuticals by 126.2% in the 3rd quarter. Barclays PLC now owns 277,565 shares of the biopharmaceutical company's stock valued at $4,269,000 after purchasing an additional 154,854 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of ACADIA Pharmaceuticals by 380.3% in the 4th quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company's stock valued at $45,576,000 after purchasing an additional 1,966,607 shares in the last quarter. KBC Group NV raised its holdings in shares of ACADIA Pharmaceuticals by 67.0% in the 4th quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company's stock valued at $93,000 after purchasing an additional 2,044 shares in the last quarter. R Squared Ltd acquired a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at $47,000. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of ACADIA Pharmaceuticals by 10.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 35,281 shares of the biopharmaceutical company's stock valued at $647,000 after purchasing an additional 3,378 shares in the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ACAD shares. UBS Group cut their price target on shares of ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. 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 note on Monday, May 19th. BMO Capital Markets lifted their price target on shares of ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. HC Wainwright lifted their price target on shares of ACADIA Pharmaceuticals from $27.00 to $32.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $28.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, February 27th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, ACADIA Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $26.83.

Insider Activity

In other news, Director Elizabeth A. Garofalo sold 4,919 shares of ACADIA Pharmaceuticals stock in a transaction dated 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 owns 17,595 shares of the company's stock, valued at $320,756.85. The trade was a 21.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark C. Schneyer sold 2,000 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $25.00, for a total transaction of $50,000.00. Following the sale, the executive vice president now directly owns 62,130 shares in the company, valued at approximately $1,553,250. This represents a 3.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,746 shares of company stock valued at $428,221 over the last quarter. Corporate insiders own 26.50% of the company's stock.

ACADIA Pharmaceuticals Stock Performance

ACADIA Pharmaceuticals stock traded up $0.21 during midday trading on Tuesday, hitting $22.19. 2,026,963 shares of the company's stock were exchanged, compared to its average volume of 2,373,323. ACADIA Pharmaceuticals Inc. has a 12-month low of $13.40 and a 12-month high of $25.23. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 28.45 and a beta of 0.47. The firm's 50 day simple moving average is $16.47 and its 200 day simple moving average is $17.36.

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

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.