American Century Companies Inc. Has $27.12 Million Position in ACADIA Pharmaceuticals Inc. $ACAD

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. boosted its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 1,055.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,632,749 shares of the biopharmaceutical company's stock after purchasing an additional 1,491,484 shares during the quarter. American Century Companies Inc. owned about 0.98% of ACADIA Pharmaceuticals worth $27,120,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Fox Run Management L.L.C. lifted its holdings in shares of ACADIA Pharmaceuticals by 25.6% during the first quarter. Fox Run Management L.L.C. now owns 31,938 shares of the biopharmaceutical company's stock worth $530,000 after buying an additional 6,516 shares during the last quarter. E Fund Management Co. Ltd. lifted its holdings in shares of ACADIA Pharmaceuticals by 76.1% during the first quarter. E Fund Management Co. Ltd. now owns 18,718 shares of the biopharmaceutical company's stock worth $311,000 after buying an additional 8,090 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of ACADIA Pharmaceuticals by 22.0% during the first quarter. Russell Investments Group Ltd. now owns 241,323 shares of the biopharmaceutical company's stock worth $4,008,000 after buying an additional 43,523 shares during the last quarter. HighTower Advisors LLC acquired a new position in shares of ACADIA Pharmaceuticals during the first quarter worth approximately $445,000. Finally, Public Sector Pension Investment Board acquired a new position in shares of ACADIA Pharmaceuticals during the first quarter worth approximately $6,485,000. Institutional investors own 96.71% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on ACAD. The Goldman Sachs Group upped their price target on ACADIA Pharmaceuticals from $15.00 to $17.00 and gave the stock a "sell" rating in a report on Thursday, August 7th. JMP Securities upped their price target on ACADIA Pharmaceuticals from $37.00 to $38.00 and gave the stock a "market outperform" rating in a report on Thursday, August 7th. Morgan Stanley set a $24.00 price target on ACADIA Pharmaceuticals and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. BMO Capital Markets upped their price target on ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Finally, Oppenheimer restated a "market perform" rating and issued a $22.00 target price (up from $19.00) on shares of ACADIA Pharmaceuticals in a research note on Thursday, June 26th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $28.88.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ ACAD traded down $0.42 during mid-day trading on Monday, hitting $25.32. The company's stock had a trading volume of 2,042,257 shares, compared to its average volume of 1,963,269. ACADIA Pharmaceuticals Inc. has a one year low of $13.40 and a one year high of $25.95. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of 19.04, a price-to-earnings-growth ratio of 6.55 and a beta of 0.70. The company's fifty day simple moving average is $23.09 and its 200-day simple moving average is $19.77.

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

Insider Activity at ACADIA Pharmaceuticals

In related news, EVP Mark C. Schneyer sold 22,000 shares of the business'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 transaction of $553,960.00. Following the completion of the transaction, the executive vice president owned 40,130 shares in the company, valued at approximately $1,010,473.40. The trade was a 35.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Laura Brege sold 14,446 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $21.78, for a total transaction of $314,633.88. Following the completion of the sale, the director owned 15,095 shares in the company, valued at approximately $328,769.10. This trade represents a 48.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. 28.30% of the stock is owned by company insiders.

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.