ACADIA Pharmaceuticals Inc. $ACAD Shares Acquired by Rhumbline Advisers

Key Points

• Rhumbline Advisers boosted its holdings in ACADIA Pharmaceuticals by 100.9%, owning 352,716 shares valued at approximately $5.86 million as of the latest SEC filing.
• ACADIA Pharmaceuticals reported $0.16 EPS for the latest quarter, surpassing analysts' expectations of $0.14, and generated $264.57 million in revenue, reflecting a 9.4% increase year-over-year.
• Analyst ratings for ACADIA Pharmaceuticals show a consensus of "Moderate Buy" with a target price of $29.65, indicating positive market sentiment about the stock's performance.

Rhumbline Advisers increased its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 100.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 352,716 shares of the biopharmaceutical company's stock after acquiring an additional 177,188 shares during the quarter. Rhumbline Advisers owned approximately 0.21% of ACADIA Pharmaceuticals worth $5,859,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of ACADIA Pharmaceuticals by 9.0% during the 1st quarter. Vanguard Group Inc. now owns 15,203,234 shares of the biopharmaceutical company's stock valued at $252,526,000 after acquiring an additional 1,255,594 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of ACADIA Pharmaceuticals during the 1st quarter valued at about $60,845,000. Fred Alger Management LLC grew its holdings in shares of ACADIA Pharmaceuticals by 2.0% during the 1st quarter. Fred Alger Management LLC now owns 2,769,828 shares of the biopharmaceutical company's stock worth $46,007,000 after purchasing an additional 54,899 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth $40,935,000. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of ACADIA Pharmaceuticals by 73.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,977,432 shares of the biopharmaceutical company's stock worth $32,845,000 after purchasing an additional 838,728 shares during the period. Institutional investors and hedge funds own 96.71% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on ACAD shares. Oppenheimer reissued a "market perform" rating and set a $22.00 target price (up previously from $19.00) on shares of ACADIA Pharmaceuticals in a research note on Thursday, June 26th. JPMorgan Chase & Co. increased their target price on ACADIA Pharmaceuticals from $30.00 to $34.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Deutsche Bank Aktiengesellschaft raised ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating and increased their target price for the stock from $20.00 to $35.00 in a research note on Wednesday, May 21st. Mizuho increased their target price on ACADIA Pharmaceuticals from $23.00 to $24.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $32.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, June 26th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $29.65.

ACADIA Pharmaceuticals Stock Performance

ACAD opened at $23.61 on Friday. ACADIA Pharmaceuticals Inc. has a one year low of $13.40 and a one year high of $26.65. The company has a market cap of $3.98 billion, a P/E ratio of 17.75, a PEG ratio of 6.13 and a beta of 0.75. The business's 50-day simple moving average is $23.99 and its 200-day simple moving average is $20.32.

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

Insider Buying and Selling

In related news, EVP Mark C. Schneyer sold 22,000 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $25.18, for a total transaction of $553,960.00. Following the transaction, the executive vice president owned 40,130 shares in the company, valued at $1,010,473.40. This trade represents a 35.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Elizabeth A. Garofalo sold 1,600 shares of the firm's stock in a transaction that occurred 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 transaction, the director owned 25,382 shares in the company, valued at $659,424.36. This represents a 5.93% decrease in their position. The disclosure for this sale can be found here. Company insiders own 26.50% of the company's stock.

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.

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