Graham Capital Management L.P. Grows Stock Position in ACADIA Pharmaceuticals Inc. $ACAD

Key Points

• Graham Capital Management L.P. increased its stake in ACADIA Pharmaceuticals by 59.7%, now owning 98,686 shares valued at approximately $1.64 million.
• ACADIA Pharmaceuticals reported earnings of $0.16 per share for the last quarter, exceeding analyst expectations, with revenue of $264.57 million.
• Analysts have generally positive ratings for ACADIA, with a current average target price of $28.88 and a breakdown of ratings that includes one strong buy and ten buy ratings.

Graham Capital Management L.P. raised its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 59.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,686 shares of the biopharmaceutical company's stock after acquiring an additional 36,909 shares during the quarter. Graham Capital Management L.P. owned approximately 0.06% of ACADIA Pharmaceuticals worth $1,639,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of ACADIA Pharmaceuticals by 645.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 310,332 shares of the biopharmaceutical company's stock valued at $5,065,000 after acquiring an additional 268,714 shares during the last quarter. GAMMA Investing LLC grew its position in shares of ACADIA Pharmaceuticals by 627.3% in the first quarter. GAMMA Investing LLC now owns 3,513 shares of the biopharmaceutical company's stock valued at $58,000 after purchasing an additional 3,030 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new stake in shares of ACADIA Pharmaceuticals in the first quarter valued at approximately $247,000. Amalgamated Bank grew its position in shares of ACADIA Pharmaceuticals by 757.7% in the first quarter. Amalgamated Bank now owns 35,002 shares of the biopharmaceutical company's stock valued at $581,000 after purchasing an additional 30,921 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of ACADIA Pharmaceuticals by 28.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,086,840 shares of the biopharmaceutical company's stock valued at $19,932,000 after purchasing an additional 243,082 shares in the last quarter. Institutional investors and hedge funds own 96.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ACAD shares. Robert W. Baird upped their price target on ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. JMP Securities upped their price target on ACADIA Pharmaceuticals from $37.00 to $38.00 and gave the company a "market outperform" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. upped their price target on ACADIA Pharmaceuticals from $30.00 to $34.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Wall Street Zen lowered ACADIA Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Friday. Finally, UBS Group increased their price objective on ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus price target of $28.88.

Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, Director Elizabeth A. Garofalo sold 1,600 shares of ACADIA Pharmaceuticals stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $25.98, for a total value of $41,568.00. Following the completion of the transaction, the director directly owned 25,382 shares in the company, valued at approximately $659,424.36. This trade represents a 5.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark C. Schneyer sold 22,000 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, August 18th. The shares were sold at an average price of $25.18, for a total value of $553,960.00. Following the completion of the transaction, the executive vice president owned 40,130 shares of the company's stock, valued at approximately $1,010,473.40. This trade represents a 35.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 28.30% of the company's stock.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD traded up $0.17 during midday trading on Monday, hitting $25.43. 290,781 shares of the stock were exchanged, compared to its average volume of 2,148,413. ACADIA Pharmaceuticals Inc. has a 52-week low of $13.40 and a 52-week high of $26.65. The stock has a fifty day simple moving average of $23.68 and a 200 day simple moving average of $20.16. The firm has a market cap of $4.29 billion, a P/E ratio of 19.13, a P/E/G ratio of 6.40 and a beta of 0.75.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. ACADIA Pharmaceuticals had a return on equity of 14.69% and a net margin of 21.80%.The business had revenue of $264.57 million during the quarter, compared to analyst estimates of $263.07 million. During the same period last year, the business posted $0.20 earnings per share. The company's quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal 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.