GAMMA Investing LLC Increases Stock Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

GAMMA Investing LLC raised its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 11,981.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,351 shares of the biopharmaceutical company's stock after purchasing an additional 57,868 shares during the quarter. GAMMA Investing LLC's holdings in ACADIA Pharmaceuticals were worth $969,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Virtus Fund Advisers LLC bought a new stake in shares of ACADIA Pharmaceuticals during the 4th quarter valued at about $39,000. GF Fund Management CO. LTD. purchased a new position in shares of ACADIA Pharmaceuticals during the fourth quarter valued at about $64,000. Globeflex Capital L P purchased a new position in shares of ACADIA Pharmaceuticals during the fourth quarter valued at about $168,000. Xponance Inc. purchased a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth approximately $186,000. Finally, Vinva Investment Management Ltd bought a new position in shares of ACADIA Pharmaceuticals in the 4th quarter worth approximately $187,000. 96.71% of the stock is currently owned by institutional investors.

ACADIA Pharmaceuticals Price Performance

Shares of NASDAQ:ACAD opened at $22.14 on Tuesday. ACADIA Pharmaceuticals Inc. has a 1 year low of $13.40 and a 1 year high of $25.23. The business has a 50 day simple moving average of $18.19 and a two-hundred day simple moving average of $17.90. The firm has a market capitalization of $3.71 billion, a PE ratio of 28.38 and a beta of 0.65.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The business had revenue of $244.32 million during the quarter, compared to analyst estimates of $239.32 million. During the same quarter in the previous year, the business earned $0.10 earnings per share. The company's revenue for the quarter was up 18.7% compared to the same quarter last year. Equities research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ACAD. BMO Capital Markets raised their price objective on ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Robert W. Baird lifted their target price on ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. JPMorgan Chase & Co. raised their price target on ACADIA Pharmaceuticals from $26.00 to $30.00 and gave the company an "overweight" rating in a report on Friday, June 6th. Oppenheimer reaffirmed a "market perform" rating on shares of ACADIA Pharmaceuticals in a report on Friday, May 16th. Finally, UBS Group reduced their target price on ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ACADIA Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target of $26.79.

Insider Buying and Selling at ACADIA Pharmaceuticals

In related news, EVP Mark C. Schneyer sold 3,498 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $14.60, for a total value of $51,070.80. Following the completion of the sale, the executive vice president now owns 62,773 shares in the company, valued at approximately $916,485.80. The trade was a 5.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $22.50, for a total value of $90,000.00. Following the completion of the sale, the insider now owns 20,395 shares of the company's stock, valued at $458,887.50. The trade was a 16.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,273 shares of company stock worth $653,182 over the last 90 days. Company insiders own 26.50% of the company's stock.

ACADIA Pharmaceuticals 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.

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