Empowered Funds LLC Makes New Investment in ACADIA Pharmaceuticals Inc. $ACAD

Key Points

• Empowered Funds LLC acquired 48,982 shares of ACADIA Pharmaceuticals worth approximately $1.09 million, while institutional investors collectively own 96.71% of the company.
• Analysts remain generally optimistic, with a consensus “Moderate Buy” rating and average price target of $33.69; 14 analysts rate the stock a Buy versus three Holds.
• ACADIA exceeded quarterly expectations, reporting $0.18 in EPS versus $0.07 forecast and $308 million in revenue, up 16.4% year over year. However, insiders sold 42,100 shares worth about $1.13 million over the past 90 days.

Empowered Funds LLC bought a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 48,982 shares of the biopharmaceutical company's stock, valued at approximately $1,090,000.

Several other large investors have also bought and sold shares of the company. Farther Finance Advisors LLC increased its holdings in shares of ACADIA Pharmaceuticals by 67.5% in the fourth quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company's stock valued at $26,000 after buying an additional 386 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at about $26,000. Transamerica Financial Advisors LLC increased its stake in ACADIA Pharmaceuticals by 304.5% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company's stock valued at $36,000 after buying an additional 1,005 shares during the period. Federated Hermes Inc. increased its stake in shares of ACADIA Pharmaceuticals by 277.5% in the fourth quarter. Federated Hermes Inc. now owns 1,612 shares of the biopharmaceutical company's stock worth $43,000 after acquiring an additional 1,185 shares during the last quarter. Finally, Leonteq Securities AG acquired a new position in shares of ACADIA Pharmaceuticals in the fourth quarter worth $52,000. Institutional investors own 96.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ACAD. Stifel Nicolaus increased their price target on shares of ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the stock a "hold" rating in a research note on Tuesday, July 21st. HC Wainwright reissued a "buy" rating on shares of ACADIA Pharmaceuticals in a report on Thursday, August 6th. Canaccord Genuity Group raised their target price on ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the stock a "buy" rating in a research report on Monday, June 29th. Citizens Jmp raised their price objective on shares of ACADIA Pharmaceuticals from $35.00 to $36.00 and gave the stock a "market outperform" rating in a report on Wednesday, August 5th. Finally, Morgan Stanley set a $27.00 price target on shares of ACADIA Pharmaceuticals in a report on Monday, August 10th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $33.69.

Insider Activity

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 completion of the sale, the executive vice president owned 18,994 shares of the company's stock, valued at $496,313.22. This represents a 46.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark C. Schneyer sold 14,292 shares of the firm's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $29.22, for a total transaction of $417,612.24. Following the sale, the executive vice president owned 67,828 shares in the company, valued at approximately $1,981,934.16. The trade was a 17.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 42,100 shares of company stock worth $1,134,287 in the last 90 days. Corporate insiders own 26.20% of the company's stock.

ACADIA Pharmaceuticals Stock Performance

Shares of ACADIA Pharmaceuticals stock opened at $28.24 on Monday. ACADIA Pharmaceuticals Inc. has a 52 week low of $19.69 and a 52 week high of $29.85. The stock has a market capitalization of $4.87 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 22.24 and a beta of 0.81. The firm has a fifty day moving average of $25.14 and a two-hundred day moving average of $23.33.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced 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 business had revenue of $308.00 million during the quarter, compared to analysts' expectations of $296.55 million. ACADIA Pharmaceuticals had a return on equity of 9.03% and a net margin of 33.42%.The firm's quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.16 earnings per share. As a group, research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.59 EPS for the current fiscal year.

ACADIA Pharmaceuticals 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.

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