Concurrent Investment Advisors LLC Purchases Shares of 14,881 ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Concurrent Investment Advisors LLC bought a new position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 14,881 shares of the biopharmaceutical company's stock, valued at approximately $247,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Exchange Traded Concepts LLC purchased a new position in shares of ACADIA Pharmaceuticals in the 1st quarter worth approximately $29,000. Virtus Fund Advisers LLC purchased a new position in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $39,000. GF Fund Management CO. LTD. purchased a new position in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $64,000. GAMMA Investing LLC raised its holdings in shares of ACADIA Pharmaceuticals by 627.3% in the 1st quarter. GAMMA Investing LLC now owns 3,513 shares of the biopharmaceutical company's stock worth $58,000 after purchasing an additional 3,030 shares during the period. Finally, Globeflex Capital L P bought a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $168,000. Hedge funds and other institutional investors own 96.71% of the company's stock.

Insider Buying and Selling

In related news, Director Laura Brege sold 14,446 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $21.78, for a total value of $314,633.88. Following the completion of the transaction, the director directly owned 15,095 shares in the company, valued at approximately $328,769.10. The trade was a 48.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark C. Schneyer sold 3,498 shares of the company's stock in a transaction on Friday, May 2nd. The stock was 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 $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. Over the last ninety days, insiders sold 25,271 shares of company stock worth $525,079. Corporate insiders own 26.50% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. UBS Group lowered their price target on shares of ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Robert W. Baird lifted their price target on shares of ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. JPMorgan Chase & Co. lifted their price target on shares of ACADIA Pharmaceuticals from $26.00 to $30.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Mizuho lifted their price target on shares of ACADIA Pharmaceuticals from $20.00 to $23.00 and gave the stock a "neutral" rating in a report on Monday, May 19th. Finally, Morgan Stanley set a $24.00 price target on shares of ACADIA Pharmaceuticals and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ACADIA Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $27.88.

ACADIA Pharmaceuticals Trading Down 4.9%

Shares of ACAD traded down $1.08 during trading hours on Friday, reaching $20.98. 2,078,938 shares of the company's stock traded hands, compared to its average volume of 1,981,584. The stock has a market cap of $3.51 billion, a PE ratio of 15.31, a price-to-earnings-growth ratio of 4.52 and a beta of 0.64. The firm's 50 day simple moving average is $20.93 and its 200-day simple moving average is $18.51. 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 issued its quarterly 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. ACADIA Pharmaceuticals had a return on equity of 17.46% and a net margin of 22.97%. The firm had revenue of $244.32 million during the quarter, compared to the consensus estimate of $239.32 million. During the same quarter last year, the company posted $0.10 EPS. The company's revenue for the quarter was up 18.7% on a year-over-year basis. As a group, analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

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.