Bank of New York Mellon Corp Raises Stock Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Bank of New York Mellon Corp grew its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 96.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 804,390 shares of the biopharmaceutical company's stock after acquiring an additional 394,640 shares during the quarter. Bank of New York Mellon Corp owned about 0.48% of ACADIA Pharmaceuticals worth $13,361,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ACAD. Assenagon Asset Management S.A. acquired a new stake in shares of ACADIA Pharmaceuticals in the first quarter valued at approximately $60,845,000. Point72 Asset Management L.P. acquired a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $40,935,000. Norges Bank acquired a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at approximately $25,555,000. Renaissance Technologies LLC increased its holdings in shares of ACADIA Pharmaceuticals by 204.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,226,533 shares of the biopharmaceutical company's stock valued at $22,507,000 after purchasing an additional 823,333 shares during the period. Finally, Two Sigma Advisers LP increased its holdings in shares of ACADIA Pharmaceuticals by 160.8% in the fourth quarter. Two Sigma Advisers LP now owns 1,263,200 shares of the biopharmaceutical company's stock valued at $23,180,000 after purchasing an additional 778,900 shares during the period. 96.71% of the stock is owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Stock Down 0.9%

ACAD stock traded down $0.22 on Thursday, reaching $23.05. 1,502,860 shares of the company's stock were exchanged, compared to its average volume of 1,741,109. The stock has a fifty day moving average of $22.02 and a 200-day moving average of $18.80. The firm has a market cap of $3.86 billion, a PE ratio of 16.82, a P/E/G ratio of 5.01 and a beta of 0.64. ACADIA Pharmaceuticals Inc. has a twelve month low of $13.40 and a twelve month high of $25.23.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last posted its earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. The company had revenue of $244.32 million for the quarter, compared to the consensus estimate of $239.32 million. ACADIA Pharmaceuticals had a return on equity of 17.46% and a net margin of 22.97%. ACADIA Pharmaceuticals's quarterly revenue was up 18.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 earnings per share. On average, equities research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, insider James Kihara sold 4,000 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $22.50, for a total transaction of $90,000.00. Following the sale, the insider directly owned 20,395 shares in the company, valued at approximately $458,887.50. The trade was a 16.40% 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, EVP Mark C. Schneyer sold 2,000 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $25.00, for a total value of $50,000.00. Following the sale, the executive vice president owned 62,130 shares in the company, valued at approximately $1,553,250. The trade was a 3.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,271 shares of company stock worth $525,079. 26.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ACAD shares. Deutsche Bank Aktiengesellschaft raised ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating and boosted their target price for the company from $20.00 to $35.00 in a report on Wednesday, May 21st. Bank of America boosted 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. Oppenheimer reissued a "market perform" rating and issued a $22.00 target price (up previously from $19.00) on shares of ACADIA Pharmaceuticals in a report on Thursday, June 26th. Royal Bank Of Canada boosted their target price on ACADIA Pharmaceuticals from $26.00 to $38.00 and gave the company an "outperform" rating in a report on Monday, June 23rd. Finally, JPMorgan Chase & Co. boosted their target price on ACADIA Pharmaceuticals from $30.00 to $34.00 and gave the company an "overweight" rating in a report on Thursday. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, ACADIA Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $28.13.

About ACADIA Pharmaceuticals

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.