Frazier Life Sciences Management L.P. Buys 683,361 Shares of ACADIA Pharmaceuticals Inc. $ACAD

Key Points

• Frazier Life Sciences increased its ACADIA Pharmaceuticals stake by 111.3% in the fourth quarter, adding 683,361 shares to reach 1,297,198 shares worth about $34.65 million.
• Analysts remain mixed but generally constructive on the stock, with a consensus “Moderate Buy” and an average price target of $31.63. Recent moves included both upgraded and lowered targets, reflecting some uncertainty.
• ACADIA reported Q1 earnings of $0.02 per share, missing estimates, while revenue of $268.1 million also came in below expectations. The stock was trading around $21.09, near its 1-year low of $19.69.

Frazier Life Sciences Management L.P. raised its position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 111.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,297,198 shares of the biopharmaceutical company's stock after acquiring an additional 683,361 shares during the quarter. ACADIA Pharmaceuticals makes up approximately 0.9% of Frazier Life Sciences Management L.P.'s holdings, making the stock its 23rd largest position. Frazier Life Sciences Management L.P. owned 0.77% of ACADIA Pharmaceuticals worth $34,648,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Farther Finance Advisors LLC boosted its position in ACADIA Pharmaceuticals by 67.5% during the 4th 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 in the last quarter. Meeder Asset Management Inc. bought a new stake in ACADIA Pharmaceuticals during the 4th quarter valued at approximately $26,000. Smartleaf Asset Management LLC boosted its position in ACADIA Pharmaceuticals by 107.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,712 shares of the biopharmaceutical company's stock valued at $36,000 after acquiring an additional 885 shares in the last quarter. Transamerica Financial Advisors LLC boosted its position in ACADIA Pharmaceuticals by 304.5% during the 4th quarter. Transamerica Financial Advisors LLC now owns 1,335 shares of the biopharmaceutical company's stock valued at $36,000 after acquiring an additional 1,005 shares in the last quarter. Finally, Federated Hermes Inc. boosted its position in ACADIA Pharmaceuticals by 277.5% during the 4th quarter. Federated Hermes Inc. now owns 1,612 shares of the biopharmaceutical company's stock valued at $43,000 after acquiring an additional 1,185 shares in the last quarter. 96.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Stifel Nicolaus cut their price objective on ACADIA Pharmaceuticals from $25.00 to $24.00 and set a "hold" rating on the stock in a research report on Thursday, February 26th. Citizens Jmp upped their target price on shares of ACADIA Pharmaceuticals from $34.00 to $35.00 and gave the stock a "market outperform" rating in a research report on Thursday, February 26th. Weiss Ratings downgraded shares of ACADIA Pharmaceuticals from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, May 1st. Royal Bank Of Canada reduced their target price on shares of ACADIA Pharmaceuticals from $31.00 to $30.00 and set an "outperform" rating on the stock in a research report on Thursday, February 26th. Finally, Mizuho raised shares of ACADIA Pharmaceuticals from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $29.00 to $35.00 in a research report on Monday, February 23rd. Eleven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $31.63.

Insider Transactions at ACADIA Pharmaceuticals

In related news, insider James Kihara sold 5,401 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $21.18, for a total value of $114,393.18. Following the transaction, the insider owned 24,509 shares in the company, valued at $519,100.62. The trade was a 18.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark C. Schneyer sold 3,506 shares of the company's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $21.79, for a total transaction of $76,395.74. Following the completion of the transaction, the executive vice president owned 66,145 shares in the company, valued at approximately $1,441,299.55. The trade was a 5.03% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 13,978 shares of company stock worth $302,819. 26.20% of the stock is currently owned by company insiders.

ACADIA Pharmaceuticals Price Performance

NASDAQ:ACAD opened at $21.09 on Friday. The firm's 50-day moving average price is $21.76 and its 200-day moving average price is $23.67. The company has a market capitalization of $3.61 billion, a PE ratio of 9.59, a P/E/G ratio of 26.48 and a beta of 0.83. 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 released its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.02). The business had revenue of $268.10 million during the quarter, compared to analysts' expectations of $280.25 million. ACADIA Pharmaceuticals had a return on equity of 9.61% and a net margin of 34.30%.The firm's quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.11 earnings per share. Equities analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.37 EPS for the current fiscal year.

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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