Baird Financial Group Inc. Invests $1.51 Million in ACADIA Pharmaceuticals Inc. $ACAD

Key Points

• Baird Financial Group Inc. has invested approximately $1.51 million in ACADIA Pharmaceuticals, acquiring around 90,864 shares during the first quarter.
• ACADIA Pharmaceuticals reported a quarterly earnings per share (EPS) of $0.16, exceeding analysts' expectations, with revenues of $264.57 million for the quarter, reflecting a 9.4% increase year-over-year.
• Recent insider sales included EVP Mark C. Schneyer, who sold 22,000 shares for approximately $554,000, resulting in a decrease in their ownership by 35.41%.

Baird Financial Group Inc. purchased a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 90,864 shares of the biopharmaceutical company's stock, valued at approximately $1,509,000. Baird Financial Group Inc. owned about 0.05% of ACADIA Pharmaceuticals at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ACAD. Allspring Global Investments Holdings LLC boosted its holdings in ACADIA Pharmaceuticals by 645.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 310,332 shares of the biopharmaceutical company's stock valued at $5,065,000 after acquiring an additional 268,714 shares during the last quarter. GAMMA Investing LLC boosted its holdings in ACADIA Pharmaceuticals by 627.3% in the first quarter. GAMMA Investing LLC now owns 3,513 shares of the biopharmaceutical company's stock valued at $58,000 after acquiring an additional 3,030 shares during the last quarter. Concurrent Investment Advisors LLC bought a new stake in ACADIA Pharmaceuticals in the first quarter valued at approximately $247,000. Amalgamated Bank boosted its holdings in ACADIA Pharmaceuticals by 757.7% in the first quarter. Amalgamated Bank now owns 35,002 shares of the biopharmaceutical company's stock valued at $581,000 after acquiring an additional 30,921 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in ACADIA Pharmaceuticals by 15.8% in the fourth quarter. Ameriprise Financial Inc. now owns 884,870 shares of the biopharmaceutical company's stock valued at $16,237,000 after acquiring an additional 120,996 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors.

ACADIA Pharmaceuticals Stock Performance

ACADIA Pharmaceuticals stock opened at $25.26 on Monday. The stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of 18.99, a PEG ratio of 6.40 and a beta of 0.75. ACADIA Pharmaceuticals Inc. has a 52-week low of $13.40 and a 52-week high of $26.65. The stock's 50 day moving average price is $23.68 and its two-hundred day moving average price is $20.16.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. The firm had revenue of $264.57 million for the quarter, compared to analysts' expectations of $263.07 million. ACADIA Pharmaceuticals had a return on equity of 14.69% and a net margin of 21.80%.The company's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.20 EPS. On average, equities research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current year.

Insider Buying and Selling

In other news, EVP Mark C. Schneyer sold 22,000 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $25.18, for a total transaction of $553,960.00. Following the transaction, the executive vice president directly owned 40,130 shares of the company's stock, valued at $1,010,473.40. This represents a 35.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Elizabeth A. Garofalo sold 1,600 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $25.98, for a total value of $41,568.00. Following the transaction, the director directly owned 25,382 shares in the company, valued at $659,424.36. The trade was a 5.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 28.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. Morgan Stanley set a $24.00 target price on ACADIA Pharmaceuticals and gave the company an "equal weight" rating in a report on Tuesday, May 20th. Royal Bank Of Canada upped their target price on ACADIA Pharmaceuticals from $39.00 to $40.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. The Goldman Sachs Group upped their target price on ACADIA Pharmaceuticals from $15.00 to $17.00 and gave the company a "sell" rating in a report on Thursday, August 7th. Citigroup reiterated an "outperform" rating on shares of ACADIA Pharmaceuticals in a report on Thursday, August 7th. Finally, Bank of America upped their target price on ACADIA Pharmaceuticals from $18.00 to $23.00 and gave the company a "hold" rating in a report on Thursday, June 5th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus price target of $28.88.

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.

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