Amalgamated Bank Increases Stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Amalgamated Bank raised its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 757.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 35,002 shares of the biopharmaceutical company's stock after buying an additional 30,921 shares during the quarter. Amalgamated Bank's holdings in ACADIA Pharmaceuticals were worth $581,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in ACADIA Pharmaceuticals by 645.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 310,332 shares of the biopharmaceutical company's stock valued at $5,065,000 after buying an additional 268,714 shares during the period. Illinois Municipal Retirement Fund acquired a new position in ACADIA Pharmaceuticals in the 1st quarter valued at $1,198,000. Oppenheimer Asset Management Inc. grew its stake in shares of ACADIA Pharmaceuticals by 10.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 35,864 shares of the biopharmaceutical company's stock worth $596,000 after purchasing an additional 3,535 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of ACADIA Pharmaceuticals during the 1st quarter worth $1,133,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of ACADIA Pharmaceuticals during the 1st quarter worth $29,000. 96.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ACAD shares. HC Wainwright reaffirmed a "buy" rating and set a $32.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, June 26th. Mizuho upped their price target on shares of ACADIA Pharmaceuticals from $20.00 to $23.00 and gave the stock a "neutral" rating in a research note on Monday, May 19th. Oppenheimer reaffirmed a "market perform" rating and set a $22.00 price target (up from $19.00) on shares of ACADIA Pharmaceuticals in a research note on Thursday, June 26th. Morgan Stanley set a $24.00 price target on shares of ACADIA Pharmaceuticals and gave the stock an "equal weight" rating in a research note on Tuesday, May 20th. Finally, Wall Street Zen raised shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.88.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, insider James Kihara sold 4,000 shares of the company's stock in a transaction dated 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 directly owned 20,395 shares in the company, valued at approximately $458,887.50. This represents a 16.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark C. Schneyer sold 3,498 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $14.60, for a total transaction of $51,070.80. Following the completion of the transaction, the executive vice president owned 62,773 shares in the company, valued at approximately $916,485.80. This trade represents a 5.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,271 shares of company stock worth $525,079. Corporate insiders own 28.30% of the company's stock.

ACADIA Pharmaceuticals Price Performance

NASDAQ:ACAD traded up $0.91 on Monday, reaching $21.89. The stock had a trading volume of 1,625,060 shares, compared to its average volume of 1,980,159. The company has a market cap of $3.66 billion, a price-to-earnings ratio of 15.98, a P/E/G ratio of 4.52 and a beta of 0.64. The firm's fifty day moving average is $20.93 and its two-hundred day moving average is $18.52. ACADIA Pharmaceuticals Inc. has a 12-month low of $13.40 and a 12-month high of $25.23.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. The company had revenue of $244.32 million for the quarter, compared to analyst estimates of $239.32 million. ACADIA Pharmaceuticals had a net margin of 22.97% and a return on equity of 17.46%. The firm's quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 EPS. As a group, research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

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.