Arrowstreet Capital Limited Partnership increased its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 4.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,569,491 shares of the biopharmaceutical company's stock after purchasing an additional 66,874 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.92% of ACADIA Pharmaceuticals worth $34,937,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp increased its stake in ACADIA Pharmaceuticals by 9.0% in the fourth quarter. State Street Corp now owns 7,910,733 shares of the biopharmaceutical company's stock valued at $211,296,000 after acquiring an additional 655,257 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of ACADIA Pharmaceuticals by 47.3% during the 1st quarter. First Trust Advisors LP now owns 3,343,868 shares of the biopharmaceutical company's stock worth $74,435,000 after buying an additional 1,073,834 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of ACADIA Pharmaceuticals by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 3,239,451 shares of the biopharmaceutical company's stock worth $86,539,000 after buying an additional 106,807 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in ACADIA Pharmaceuticals by 8.0% in the first quarter. Dimensional Fund Advisors LP now owns 3,155,160 shares of the biopharmaceutical company's stock valued at $70,222,000 after buying an additional 234,186 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in ACADIA Pharmaceuticals by 19.8% in the third quarter. Marshall Wace LLP now owns 2,358,881 shares of the biopharmaceutical company's stock valued at $50,339,000 after buying an additional 389,170 shares in the last quarter. 96.71% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at ACADIA Pharmaceuticals
In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 3,506 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $21.79, for a total transaction of $76,395.74. Following the completion of the transaction, the executive vice president owned 66,145 shares in the company, valued at approximately $1,441,299.55. This trade represents a 5.03% decrease in their position. 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 5,401 shares of the stock in a transaction on 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 owned 24,509 shares of the company's stock, valued at approximately $519,100.62. This trade represents a 18.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 10,239 shares of company stock valued at $219,813. Company insiders own 26.20% of the company's stock.
ACADIA Pharmaceuticals Trading Up 2.4%
Shares of ACAD opened at $26.01 on Wednesday. The company has a market capitalization of $4.45 billion, a PE ratio of 11.82, a PEG ratio of 17.60 and a beta of 0.80. ACADIA Pharmaceuticals Inc. has a 12 month low of $19.69 and a 12 month high of $28.35. The stock's 50-day moving average price is $23.43 and its two-hundred day moving average price is $23.21.
ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 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 company had revenue of $268.10 million during the quarter, compared to the consensus estimate of $280.25 million. During the same quarter last year, the firm posted $0.11 EPS. The company's quarterly revenue was up 9.7% on a year-over-year basis. Equities research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.39 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on ACAD. Weiss Ratings cut shares of ACADIA Pharmaceuticals from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, May 1st. BMO Capital Markets lifted their price target on shares of ACADIA Pharmaceuticals from $34.00 to $36.00 and gave the company an "outperform" rating in a report on Tuesday, July 21st. Royal Bank Of Canada upped their price objective on shares of ACADIA Pharmaceuticals from $29.00 to $36.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 7th. Bank of America increased their price objective on shares of ACADIA Pharmaceuticals from $29.00 to $30.00 and gave the company a "buy" rating in a research note on Tuesday, June 30th. Finally, Stifel Nicolaus raised their target price on shares of ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the company a "hold" rating in a research report on Tuesday, July 21st. Thirteen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $33.17.
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About ACADIA Pharmaceuticals
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Free Report)
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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