Concurrent Investment Advisors LLC Purchases New Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

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

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in ACADIA Pharmaceuticals by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 13,947,640 shares of the biopharmaceutical company's stock valued at $255,939,000 after buying an additional 104,444 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of ACADIA Pharmaceuticals during the 1st quarter valued at $60,845,000. First Trust Advisors LP grew its position in shares of ACADIA Pharmaceuticals by 27.0% during the 4th quarter. First Trust Advisors LP now owns 2,700,125 shares of the biopharmaceutical company's stock valued at $49,547,000 after acquiring an additional 574,251 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter worth $40,935,000. Finally, Norges Bank bought a new position in ACADIA Pharmaceuticals in the 4th quarter worth $25,555,000. Hedge funds and other institutional investors own 96.71% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ACAD. Oppenheimer reissued a "market perform" rating and set a $22.00 price target (up previously from $19.00) on shares of ACADIA Pharmaceuticals in a report on Thursday, June 26th. Bank of America increased their target price on shares of ACADIA Pharmaceuticals from $18.00 to $23.00 and gave the stock a "hold" rating in a report on Thursday, June 5th. Mizuho raised their target price on shares of ACADIA Pharmaceuticals from $20.00 to $23.00 and gave the stock a "neutral" rating in a research note on Monday, May 19th. Robert W. Baird upped their price target on shares of ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. Finally, UBS Group reduced their price objective on shares of ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $27.88.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, Director Laura Brege sold 14,446 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $21.78, for a total transaction of $314,633.88. Following the sale, the director directly owned 15,095 shares in the company, valued at approximately $328,769.10. This represents a 48.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Kihara sold 4,000 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $22.50, for a total value of $90,000.00. Following the sale, the insider directly owned 20,395 shares in the company, valued at $458,887.50. The trade was a 16.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,271 shares of company stock worth $525,079 over the last 90 days. 28.30% of the stock is owned by insiders.

ACADIA Pharmaceuticals Price Performance

Shares of ACADIA Pharmaceuticals stock traded up $0.54 during trading on Wednesday, reaching $22.55. 2,089,066 shares of the stock traded hands, compared to its average volume of 2,255,721. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of 16.46, a P/E/G ratio of 4.72 and a beta of 0.64. ACADIA Pharmaceuticals Inc. has a 52-week low of $13.40 and a 52-week high of $25.23. The business has a fifty day simple moving average of $21.21 and a two-hundred day simple moving average of $18.57.

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

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.