ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Shares Bought by Amalgamated Bank

Amalgamated Bank increased its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 757.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,002 shares of the biopharmaceutical company's stock after purchasing an additional 30,921 shares during the period. Amalgamated Bank's holdings in ACADIA Pharmaceuticals were worth $581,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ACAD. Exchange Traded Concepts LLC bought a new stake in ACADIA Pharmaceuticals during the 1st quarter valued at about $29,000. Virtus Fund Advisers LLC bought a new stake in ACADIA Pharmaceuticals during the 4th quarter valued at about $39,000. GAMMA Investing LLC lifted its holdings in ACADIA Pharmaceuticals by 627.3% during the 1st quarter. GAMMA Investing LLC now owns 3,513 shares of the biopharmaceutical company's stock valued at $58,000 after buying an additional 3,030 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in ACADIA Pharmaceuticals during the 4th quarter valued at about $64,000. Finally, Globeflex Capital L P bought a new stake in ACADIA Pharmaceuticals during the 4th quarter valued at about $168,000. 96.71% of the stock is owned by hedge funds and other institutional investors.

ACADIA Pharmaceuticals Trading Down 4.9%

Shares of ACAD stock traded down $1.08 during trading hours on Friday, hitting $20.98. The company's stock had a trading volume of 2,078,938 shares, compared to its average volume of 1,981,035. The company has a 50 day moving average of $20.81 and a 200 day moving average of $18.47. The stock has a market cap of $3.51 billion, a PE ratio of 15.31, a price-to-earnings-growth ratio of 4.65 and a beta of 0.64. 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 quarterly earnings data on Wednesday, May 7th. The biopharmaceutical company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. The business had revenue of $244.32 million for the quarter, compared to the consensus estimate of $239.32 million. ACADIA Pharmaceuticals had a net margin of 22.97% and a return on equity of 17.46%. The business's revenue for the quarter 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, analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on ACAD. Needham & Company LLC reiterated a "buy" rating and set a $30.00 price objective on shares of ACADIA Pharmaceuticals in a report on Thursday, June 26th. UBS Group decreased their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating for the company in a report on Monday, April 28th. Bank of America lifted their price objective on shares of ACADIA Pharmaceuticals from $18.00 to $23.00 and gave the company a "hold" rating in a report on Thursday, June 5th. Cantor Fitzgerald upgraded shares of ACADIA Pharmaceuticals to a "strong-buy" rating in a report on Thursday, June 5th. Finally, Robert W. Baird boosted their price target on shares of ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $27.88.

Insider Activity at ACADIA Pharmaceuticals

In related news, insider James Kihara sold 4,000 shares of the business'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 completion of the transaction, the insider directly owned 20,395 shares in the company, valued at $458,887.50. The trade was a 16.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mark C. Schneyer sold 3,498 shares of the business's stock in a transaction on 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 of the company's stock, valued at approximately $916,485.80. This represents a 5.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,271 shares of company stock worth $525,079 in the last three months. Company insiders own 26.50% of the company's stock.

ACADIA Pharmaceuticals 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.