Great Lakes Advisors LLC Acquires 72,667 Shares of ACADIA Pharmaceuticals Inc. $ACAD

Key Points

• Great Lakes Advisors LLC increased its stake in ACADIA Pharmaceuticals by 13.5%, acquiring an additional 72,667 shares to hold a total of 612,680 shares valued at about $10.18 million.
• Multiple large investors including Vanguard Group and Jacobs Levy Equity Management have recently adjusted their holdings, with institutional investors owning approximately 96.71% of ACADIA's stock.
• The company reported $264.57 million in revenue and $0.16 EPS for the last quarter, exceeding analyst expectations for both metrics.

Great Lakes Advisors LLC increased its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 13.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 612,680 shares of the biopharmaceutical company's stock after purchasing an additional 72,667 shares during the period. Great Lakes Advisors LLC owned approximately 0.37% of ACADIA Pharmaceuticals worth $10,177,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of ACADIA Pharmaceuticals by 9.0% in the 1st quarter. Vanguard Group Inc. now owns 15,203,234 shares of the biopharmaceutical company's stock worth $252,526,000 after purchasing an additional 1,255,594 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of ACADIA Pharmaceuticals in the 1st quarter worth $60,845,000. Fred Alger Management LLC lifted its holdings in shares of ACADIA Pharmaceuticals by 2.0% in the 1st quarter. Fred Alger Management LLC now owns 2,769,828 shares of the biopharmaceutical company's stock worth $46,007,000 after purchasing an additional 54,899 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of ACADIA Pharmaceuticals in the 4th quarter worth $40,935,000. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of ACADIA Pharmaceuticals by 73.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,977,432 shares of the biopharmaceutical company's stock worth $32,845,000 after purchasing an additional 838,728 shares in the last quarter. 96.71% of the stock is currently owned by institutional investors.

ACADIA Pharmaceuticals Price Performance

NASDAQ ACAD opened at $25.39 on Tuesday. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 6.40 and a beta of 0.75. ACADIA Pharmaceuticals Inc. has a one year low of $13.40 and a one year high of $26.65. The business's fifty day moving average is $23.76 and its 200-day moving average is $20.20.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. ACADIA Pharmaceuticals had a return on equity of 14.69% and a net margin of 21.80%.The company had revenue of $264.57 million during the quarter, compared to analyst estimates of $263.07 million. During the same quarter last year, the firm posted $0.20 EPS. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. 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 equities analysts recently issued reports on ACAD shares. Royal Bank Of Canada increased their target price on ACADIA Pharmaceuticals from $39.00 to $40.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. 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 note on Monday, May 19th. Morgan Stanley set a $24.00 price objective on ACADIA Pharmaceuticals and gave the company an "equal weight" rating in a research note on Tuesday, May 20th. JMP Securities raised their price objective on ACADIA Pharmaceuticals from $37.00 to $38.00 and gave the company a "market outperform" rating in a research note on Thursday, August 7th. Finally, Deutsche Bank Aktiengesellschaft upgraded ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating and raised their price objective for the company from $20.00 to $35.00 in a research note on Wednesday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $28.88.

Insider Activity

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 22,000 shares of ACADIA Pharmaceuticals stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $25.18, for a total transaction of $553,960.00. Following the completion of the transaction, the executive vice president owned 40,130 shares of the company's stock, valued at $1,010,473.40. The trade was a 35.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Elizabeth A. Garofalo sold 1,600 shares of ACADIA Pharmaceuticals stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $25.98, for a total value of $41,568.00. Following the transaction, the director directly owned 25,382 shares of the company's stock, valued at $659,424.36. The trade was a 5.93% decrease in their position. The disclosure for this sale can be found here. Company insiders own 28.30% 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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