ACADIA Pharmaceuticals Inc. $ACAD Shares Purchased by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors increased its ACADIA Pharmaceuticals position by 8.0% in the first quarter, purchasing 234,186 shares to own 3.16 million shares worth approximately $70.2 million. Institutional investors and hedge funds collectively own 96.71% of the company.
• Analyst sentiment remains positive, with 13 Buy ratings, four Holds and one Sell; ACADIA has a “Moderate Buy” consensus rating and an average price target of $32.31.
• Insiders sold 26,797 shares worth $652,474 over the past 90 days. ACAD shares recently opened at $25.87, while the company’s latest quarterly results missed estimates on both earnings and revenue despite 9.7% year-over-year revenue growth.

Dimensional Fund Advisors LP lifted its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 8.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,155,160 shares of the biopharmaceutical company's stock after purchasing an additional 234,186 shares during the quarter. Dimensional Fund Advisors LP owned about 1.84% of ACADIA Pharmaceuticals worth $70,222,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ACAD. Farther Finance Advisors LLC boosted its holdings in ACADIA Pharmaceuticals by 67.5% in the 4th quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 386 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at approximately $26,000. Transamerica Financial Advisors LLC increased its holdings in shares of ACADIA Pharmaceuticals by 304.5% during the 4th quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company's stock worth $36,000 after buying an additional 1,005 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of ACADIA Pharmaceuticals by 277.5% during the 4th quarter. Federated Hermes Inc. now owns 1,612 shares of the biopharmaceutical company's stock worth $43,000 after buying an additional 1,185 shares during the last quarter. Finally, Leonteq Securities AG purchased a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter valued at approximately $52,000. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on ACAD shares. HC Wainwright cut ACADIA Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Tuesday, June 30th. Bank of America reissued a "buy" rating and set a $14.50 target price on shares of ACADIA Pharmaceuticals in a research note on Wednesday. Canaccord Genuity Group lifted their target price on ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the company a "buy" rating in a research report on Monday, June 29th. Stifel Nicolaus lifted their target price on ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the company a "hold" rating in a research report on Tuesday, July 21st. Finally, Citigroup upped their price target on ACADIA Pharmaceuticals from $32.00 to $35.00 and gave the company a "buy" rating in a research note on Monday, June 29th. Thirteen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, ACADIA Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $32.31.

Insider Activity

In related news, insider James Kihara sold 5,401 shares of the firm'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 completion of the transaction, the insider directly owned 24,509 shares in the company, valued at $519,100.62. This trade represents a 18.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Elizabeth H.Z. Thompson sold 16,558 shares of the firm's stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $26.13, for a total value of $432,660.54. Following the transaction, the executive vice president owned 18,994 shares of the company's stock, valued at $496,313.22. This trade represents a 46.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 26,797 shares of company stock valued at $652,474. 26.20% of the stock is currently owned by corporate insiders.

ACADIA Pharmaceuticals Price Performance

Shares of ACAD opened at $25.87 on Friday. ACADIA Pharmaceuticals Inc. has a 1-year low of $19.69 and a 1-year high of $28.35. The firm has a 50-day simple moving average of $23.74 and a two-hundred day simple moving average of $23.23. The stock has a market cap of $4.43 billion, a PE ratio of 11.76, a P/E/G ratio of 18.41 and a beta of 0.80.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share (EPS) 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 earned $0.11 EPS. The firm's revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, sell-side analysts expect that ACADIA Pharmaceuticals Inc. will post 0.39 earnings per share for the current fiscal year.

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.

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