Emerald Investment Advisers LLC Acquires Shares of 131,752 ACADIA Pharmaceuticals Inc. $ACAD

Key Points

• Emerald Investment Advisers acquired 131,752 ACADIA Pharmaceuticals shares worth approximately $3.33 million, while institutional investors collectively own 96.71% of the company.
• ACADIA reported quarterly EPS of $0.18, beating estimates of $0.07, and revenue of $308 million, up 16.4% year over year and above expectations.
• Shares opened at $29.50, near their 52-week high of $30.96. Wall Street maintains a “Moderate Buy” consensus, with an average price target of $34.19, although insiders sold 42,100 shares worth $1.13 million over the past 90 days.

Emerald Investment Advisers LLC bought a new position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 131,752 shares of the biopharmaceutical company's stock, valued at approximately $3,333,000. Emerald Investment Advisers LLC owned 0.08% of ACADIA Pharmaceuticals at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC raised its holdings in shares of ACADIA Pharmaceuticals by 67.5% during the fourth quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company's stock valued at $26,000 after acquiring an additional 386 shares during the period. GAMMA Investing LLC grew its position in ACADIA Pharmaceuticals by 15.6% during the 2nd quarter. GAMMA Investing LLC now owns 2,985 shares of the biopharmaceutical company's stock worth $76,000 after purchasing an additional 402 shares in the last quarter. Cetera Investment Advisers grew its position in ACADIA Pharmaceuticals by 2.7% during the 4th quarter. Cetera Investment Advisers now owns 16,355 shares of the biopharmaceutical company's stock worth $437,000 after purchasing an additional 436 shares in the last quarter. J.W. Cole Advisors Inc. raised its stake in ACADIA Pharmaceuticals by 2.5% during the 4th quarter. J.W. Cole Advisors Inc. now owns 20,632 shares of the biopharmaceutical company's stock valued at $551,000 after purchasing an additional 501 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its stake in ACADIA Pharmaceuticals by 2.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 28,666 shares of the biopharmaceutical company's stock valued at $766,000 after purchasing an additional 566 shares during the period. 96.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Elizabeth H.Z. Thompson sold 16,558 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $26.13, for a total transaction of $432,660.54. Following the transaction, the executive vice president owned 18,994 shares in the company, valued at $496,313.22. This represents a 46.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark C. Schneyer sold 14,292 shares of the firm's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $29.22, for a total transaction of $417,612.24. Following the transaction, the executive vice president owned 67,828 shares in the company, valued at $1,981,934.16. This represents a 17.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 42,100 shares of company stock valued at $1,134,287 over the last ninety days. Corporate insiders own 26.20% of the company's stock.

ACADIA Pharmaceuticals Price Performance

Shares of ACADIA Pharmaceuticals stock opened at $29.50 on Friday. The firm has a market cap of $5.08 billion, a price-to-earnings ratio of 13.29, a P/E/G ratio of 23.23 and a beta of 0.81. The stock has a 50-day simple moving average of $25.96 and a 200-day simple moving average of $23.48. ACADIA Pharmaceuticals Inc. has a 52-week low of $19.69 and a 52-week high of $30.96.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.07 by $0.11. The firm had revenue of $308.00 million for the quarter, compared to the consensus estimate of $296.55 million. ACADIA Pharmaceuticals had a return on equity of 9.03% and a net margin of 33.42%.The firm's revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.16 earnings per share. As a group, equities research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ACAD has been the subject of several recent analyst reports. Bank of America reaffirmed a "buy" rating and issued a $14.50 target price on shares of ACADIA Pharmaceuticals in a research report on Wednesday, July 29th. UBS Group increased their price objective on ACADIA Pharmaceuticals from $45.00 to $49.00 and gave the stock a "buy" rating in a research note on Monday, August 17th. Weiss Ratings upgraded ACADIA Pharmaceuticals from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, August 12th. Citigroup lifted their target price on ACADIA Pharmaceuticals from $35.00 to $39.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Finally, BMO Capital Markets upped their target price on ACADIA Pharmaceuticals from $34.00 to $36.00 and gave the company an "outperform" rating in a report on Tuesday, July 21st. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.19.

ACADIA Pharmaceuticals Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source