First Trust Advisors LP Increases Stock Holdings in ACADIA Pharmaceuticals Inc. $ACAD

Key Points

• First Trust Advisors LP increased its stake in ACADIA Pharmaceuticals by 47.3% in the first quarter, buying more than 1.07 million shares and bringing its holdings to 3.34 million shares valued at about $74.4 million.
• ACADIA reported mixed quarterly results, with earnings of $0.02 per share missing analyst expectations and revenue of $268.1 million coming in below estimates, though revenue still rose 9.7% year over year.
• Analyst sentiment remains generally positive: several firms raised price targets, and the stock currently carries a “Moderate Buy” consensus with an average target price of $33.17.

First Trust Advisors LP boosted its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 47.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,343,868 shares of the biopharmaceutical company's stock after buying an additional 1,073,834 shares during the quarter. First Trust Advisors LP owned approximately 1.95% of ACADIA Pharmaceuticals worth $74,435,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its position in ACADIA Pharmaceuticals by 67.5% in the fourth quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company's stock worth $26,000 after purchasing an additional 386 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at about $26,000. Transamerica Financial Advisors LLC grew its position in ACADIA Pharmaceuticals by 304.5% in the fourth quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company's stock worth $36,000 after acquiring an additional 1,005 shares in the last quarter. Federated Hermes Inc. raised its position in ACADIA Pharmaceuticals by 277.5% during the fourth quarter. Federated Hermes Inc. now owns 1,612 shares of the biopharmaceutical company's stock valued at $43,000 after purchasing an additional 1,185 shares during the period. Finally, Leonteq Securities AG purchased a new stake in ACADIA Pharmaceuticals during the fourth quarter valued at approximately $52,000. Institutional investors own 96.71% of the company's stock.

ACADIA Pharmaceuticals Price Performance

ACADIA Pharmaceuticals stock opened at $24.84 on Friday. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 17.22 and a beta of 0.80. The firm has a 50-day moving average of $23.23 and a two-hundred day moving average of $23.25. ACADIA Pharmaceuticals Inc. has a 1 year low of $19.69 and a 1 year high of $28.35.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last issued its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.02). ACADIA Pharmaceuticals had a return on equity of 9.61% and a net margin of 34.30%.The company had revenue of $268.10 million for the quarter, compared to analysts' expectations of $280.25 million. During the same period last year, the business posted $0.11 earnings per share. The business's revenue was up 9.7% compared to the same quarter last year. Research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.39 earnings per share for the current year.

Insiders Place Their Bets

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 3,506 shares of the company's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $21.79, for a total value of $76,395.74. Following the completion of the sale, the executive vice president directly owned 66,145 shares in the company, valued at approximately $1,441,299.55. This represents a 5.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James Kihara sold 5,401 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $21.18, for a total value of $114,393.18. Following the transaction, the insider directly owned 24,509 shares in the company, valued at $519,100.62. The trade was a 18.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 10,239 shares of company stock valued at $219,813. 26.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ACAD has been the subject of a number of recent research reports. Citigroup lifted their target price on ACADIA Pharmaceuticals from $32.00 to $35.00 and gave the stock a "buy" rating in a report on Monday, June 29th. HC Wainwright downgraded ACADIA Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Tuesday, June 30th. Stifel Nicolaus lifted their price objective 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. Royal Bank Of Canada boosted their price objective on shares of ACADIA Pharmaceuticals from $29.00 to $36.00 and gave the company an "outperform" rating in a research report on Tuesday, July 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $37.00 price objective on shares of ACADIA Pharmaceuticals in a research report on Monday, June 29th. Thirteen equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $33.17.

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.

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