ACADIA Pharmaceuticals Inc. $ACAD Stake Boosted by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its holdings in ACADIA Pharmaceuticals by 1,055.8% during the 1st quarter, owning approximately 1,632,749 shares valued at $27.12 million.
• Insider transactions include Director Laura Brege selling 14,446 shares and EVP Mark C. Schneyer selling 22,000 shares, representing significant decreases in their ownership stakes.
• Analysts have recently revised their price targets, with BMO Capital Markets raising ACADIA's target from $24.00 to $28.00 and a consensus rating of "Moderate Buy" among various analysts.

American Century Companies Inc. grew its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 1,055.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,632,749 shares of the biopharmaceutical company's stock after buying an additional 1,491,484 shares during the period. American Century Companies Inc. owned 0.98% of ACADIA Pharmaceuticals worth $27,120,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ACAD. Exchange Traded Concepts LLC purchased a new position in shares of ACADIA Pharmaceuticals during the first quarter valued at approximately $29,000. Picton Mahoney Asset Management purchased a new position in shares of ACADIA Pharmaceuticals during the first quarter valued at approximately $32,000. Federated Hermes Inc. boosted its holdings in shares of ACADIA Pharmaceuticals by 231.5% during the first quarter. Federated Hermes Inc. now owns 2,317 shares of the biopharmaceutical company's stock worth $38,000 after purchasing an additional 1,618 shares during the last quarter. Virtus Fund Advisers LLC acquired a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth $39,000. Finally, GAMMA Investing LLC boosted its holdings in shares of ACADIA Pharmaceuticals by 627.3% during the first quarter. GAMMA Investing LLC now owns 3,513 shares of the biopharmaceutical company's stock worth $58,000 after purchasing an additional 3,030 shares during the last quarter. Hedge funds and other institutional investors own 96.71% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Mizuho raised their price objective on ACADIA Pharmaceuticals from $23.00 to $24.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft upgraded ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating and raised their price objective for the stock from $20.00 to $35.00 in a report on Wednesday, May 21st. Morgan Stanley set a $24.00 price objective on ACADIA Pharmaceuticals and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. Needham & Company LLC restated a "buy" rating and set a $30.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, June 26th. Finally, Royal Bank Of Canada raised their price objective on ACADIA Pharmaceuticals from $39.00 to $40.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.88.

Insider Activity

In related news, Director Laura Brege sold 14,446 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $21.78, for a total value of $314,633.88. Following the completion of the sale, the director directly owned 15,095 shares of the company's stock, valued at $328,769.10. The trade was a 48.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark C. Schneyer sold 22,000 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 40,130 shares of the company's stock, valued at $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. 26.50% of the stock is currently owned by insiders.

ACADIA Pharmaceuticals Trading Down 1.1%

NASDAQ ACAD traded down $0.29 during mid-day trading on Thursday, reaching $26.28. 248,287 shares of the company's stock traded hands, compared to its average volume of 2,166,288. ACADIA Pharmaceuticals Inc. has a 1-year low of $13.40 and a 1-year high of $26.65. The company has a fifty day simple moving average of $23.22 and a 200-day simple moving average of $19.85. The company has a market cap of $4.43 billion, a price-to-earnings ratio of 19.76, a P/E/G ratio of 6.55 and a beta of 0.70.

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