Stonepine Capital Management LLC Has $4.04 Million Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Stonepine Capital Management LLC grew its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 11.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 220,000 shares of the biopharmaceutical company's stock after buying an additional 23,105 shares during the period. ACADIA Pharmaceuticals accounts for about 3.3% of Stonepine Capital Management LLC's investment portfolio, making the stock its 7th largest position. Stonepine Capital Management LLC owned about 0.13% of ACADIA Pharmaceuticals worth $4,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of ACADIA Pharmaceuticals by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 13,947,640 shares of the biopharmaceutical company's stock valued at $255,939,000 after buying an additional 104,444 shares during the last quarter. First Trust Advisors LP increased its position in ACADIA Pharmaceuticals by 27.0% in the fourth quarter. First Trust Advisors LP now owns 2,700,125 shares of the biopharmaceutical company's stock worth $49,547,000 after purchasing an additional 574,251 shares during the last quarter. SG Americas Securities LLC increased its position in ACADIA Pharmaceuticals by 380.3% in the fourth quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company's stock worth $45,576,000 after purchasing an additional 1,966,607 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in ACADIA Pharmaceuticals in the fourth quarter worth $40,935,000. Finally, Norges Bank bought a new stake in ACADIA Pharmaceuticals in the fourth quarter worth $25,555,000. Institutional investors own 96.71% of the company's stock.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ:ACAD traded up $0.16 on Wednesday, hitting $21.85. 2,621,808 shares of the company's stock were exchanged, compared to its average volume of 1,937,056. ACADIA Pharmaceuticals Inc. has a 12 month low of $13.40 and a 12 month high of $25.23. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 28.01 and a beta of 0.47. The business's 50 day simple moving average is $16.11 and its two-hundred day simple moving average is $17.19.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The business had revenue of $244.32 million during the quarter, compared to the consensus estimate of $239.32 million. During the same period last year, the company earned $0.10 earnings per share. The business's revenue for the quarter was up 18.7% compared to the same quarter last year. Equities analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ACAD shares. UBS Group reduced their price target on shares of ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of ACADIA Pharmaceuticals from $20.00 to $35.00 and gave the stock a "buy" rating in a research report on Wednesday. BMO Capital Markets boosted their price target on shares of ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the stock an "outperform" rating in a research report on Monday. Mizuho raised their price target on ACADIA Pharmaceuticals from $20.00 to $23.00 and gave the stock a "neutral" rating in a research report on Monday. Finally, Morgan Stanley raised their price target on ACADIA Pharmaceuticals from $20.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $26.83.

Insider Transactions at ACADIA Pharmaceuticals

In other news, EVP Mark C. Schneyer sold 2,000 shares of ACADIA Pharmaceuticals stock in a transaction on Friday, May 16th. The stock was sold at an average price of $25.00, for a total transaction of $50,000.00. Following the completion of the sale, the executive vice president now directly owns 62,130 shares in the company, valued at approximately $1,553,250. This trade represents a 3.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James Kihara sold 4,000 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $22.50, for a total value of $90,000.00. Following the transaction, the insider now owns 20,395 shares in the company, valued at approximately $458,887.50. This represents a 16.40% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,994 shares of company stock worth $453,131. 26.50% of the stock is currently owned by 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.