ACADIA Pharmaceuticals Inc. $ACAD Shares Bought by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management boosted its ACADIA Pharmaceuticals stake by 30.4% in the fourth quarter, ending with 621,049 shares worth about $16.6 million.
• Institutional interest remains strong, with several other hedge funds and asset managers also increasing positions; 96.71% of ACAD shares are owned by institutional investors.
• Analysts are mixed but generally positive: ACAD has a Moderate Buy consensus rating, though the company recently missed earnings and revenue estimates for the quarter.

Jupiter Asset Management Ltd. lifted its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 30.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 621,049 shares of the biopharmaceutical company's stock after buying an additional 144,732 shares during the period. Jupiter Asset Management Ltd. owned approximately 0.37% of ACADIA Pharmaceuticals worth $16,588,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ACAD. Royal Bank of Canada lifted its stake in shares of ACADIA Pharmaceuticals by 74.4% during the first quarter. Royal Bank of Canada now owns 80,528 shares of the biopharmaceutical company's stock worth $1,338,000 after buying an additional 34,352 shares during the period. AQR Capital Management LLC raised its holdings in shares of ACADIA Pharmaceuticals by 3.8% during the first quarter. AQR Capital Management LLC now owns 67,672 shares of the biopharmaceutical company's stock worth $1,124,000 after purchasing an additional 2,492 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of ACADIA Pharmaceuticals by 7.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 89,952 shares of the biopharmaceutical company's stock worth $1,498,000 after purchasing an additional 6,303 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of ACADIA Pharmaceuticals during the first quarter worth $186,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of ACADIA Pharmaceuticals by 14.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 251,056 shares of the biopharmaceutical company's stock worth $4,170,000 after purchasing an additional 31,931 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ACAD shares. Mizuho raised shares of ACADIA Pharmaceuticals from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $29.00 to $35.00 in a report on Monday, February 23rd. Royal Bank Of Canada reduced their target price on shares of ACADIA Pharmaceuticals from $31.00 to $30.00 and set an "outperform" rating for the company in a report on Thursday, February 26th. Weiss Ratings cut shares of ACADIA Pharmaceuticals from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, May 1st. Citizens Jmp raised their target price on shares of ACADIA Pharmaceuticals from $34.00 to $35.00 and gave the stock a "market outperform" rating in a report on Thursday, February 26th. Finally, JPMorgan Chase & Co. raised their target price on shares of ACADIA Pharmaceuticals from $31.00 to $34.00 and gave the stock an "overweight" rating in a report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $31.63.

ACADIA Pharmaceuticals Stock Performance

ACAD opened at $21.66 on Friday. ACADIA Pharmaceuticals Inc. has a fifty-two week low of $19.69 and a fifty-two week high of $28.35. The company has a fifty day moving average of $21.74 and a two-hundred day moving average of $23.81. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 9.85, a PEG ratio of 26.19 and a beta of 0.86.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.02). ACADIA Pharmaceuticals had a net margin of 34.30% and a return on equity of 9.61%. The firm had revenue of $268.10 million during the quarter, compared to analysts' expectations of $280.25 million. During the same period in the previous year, the firm posted $0.11 EPS. The firm's quarterly revenue was up 9.7% on a year-over-year basis. On average, equities research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.39 earnings per share for the current year.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 3,506 shares of ACADIA Pharmaceuticals stock in a transaction on Monday, May 4th. The shares were sold at an average price of $21.79, for a total value of $76,395.74. Following the completion of the transaction, the executive vice president owned 66,145 shares of the company's stock, valued at approximately $1,441,299.55. The trade was a 5.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James Kihara sold 5,401 shares of the business's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $21.18, for a total transaction of $114,393.18. Following the sale, the insider directly owned 24,509 shares of the company's stock, valued at $519,100.62. This represents a 18.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,978 shares of company stock valued at $302,819 in the last ninety days. 26.20% of the stock is owned by corporate insiders.

ACADIA Pharmaceuticals Profile

ACADIA Pharmaceuticals Inc is a biopharmaceutical company focused on the development and commercialization of innovative therapies for central nervous system (CNS) disorders. Established in 1993 and headquartered in San Diego, California, ACADIA's research centers concentrate on conditions with significant unmet medical needs, including Parkinson's disease psychosis, Alzheimer's disease psychosis, and schizophrenia. The company utilizes a range of scientific platforms, including selective receptor modulation and precision-targeted compounds, to advance its portfolio of small-molecule therapeutics.

The company's flagship product, NUPLAZID® (pimavanserin), received U.S.

Want to see what other hedge funds are holding ACAD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.