Great Lakes Advisors LLC purchased a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 151,341 shares of the biopharmaceutical company's stock, valued at approximately $3,829,000. Great Lakes Advisors LLC owned approximately 0.09% of ACADIA Pharmaceuticals as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC grew its holdings in shares of ACADIA Pharmaceuticals by 67.5% during the 4th quarter. Farther Finance Advisors LLC now owns 958 shares of the biopharmaceutical company's stock worth $26,000 after purchasing an additional 386 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of ACADIA Pharmaceuticals in the fourth quarter valued at $26,000. Transamerica Financial Advisors LLC lifted 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 purchasing an additional 1,005 shares during the period. Federated Hermes Inc. lifted its position in 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 purchasing an additional 1,185 shares during the period. Finally, Leonteq Securities AG bought a new position in ACADIA Pharmaceuticals in the fourth quarter worth $52,000. Institutional investors own 96.71% of the company's stock.
Insider Transactions at ACADIA Pharmaceuticals
In related news, 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 completion of the sale, the executive vice president directly owned 67,828 shares of the company's stock, valued at $1,981,934.16. This trade represents a 17.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Elizabeth H.Z. Thompson sold 16,558 shares of ACADIA Pharmaceuticals stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $26.13, for a total value of $432,660.54. Following the completion of the transaction, the executive vice president owned 18,994 shares of the company's stock, valued at approximately $496,313.22. The trade was a 46.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 42,100 shares of company stock valued at $1,134,287 in the last three months. 26.20% of the stock is owned by corporate insiders.
ACADIA Pharmaceuticals Stock Performance
Shares of NASDAQ:ACAD opened at $29.04 on Friday. The company's fifty day moving average is $25.79 and its 200-day moving average is $23.44. ACADIA Pharmaceuticals Inc. has a 52 week low of $19.69 and a 52 week high of $30.96. The company has a market capitalization of $5.00 billion, a PE ratio of 13.08, a P/E/G ratio of 23.79 and a beta of 0.81.
ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.11. The firm had revenue of $308.00 million during the quarter, compared to the consensus estimate of $296.55 million. ACADIA Pharmaceuticals had a net margin of 33.42% and a return on equity of 9.03%. The firm's quarterly revenue was up 16.4% on a year-over-year basis. During the same period last year, the firm posted $0.16 EPS. On average, analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.59 EPS for the current year.
Analysts Set New Price Targets
ACAD has been the topic of several analyst reports. Citizens Jmp boosted their price target on shares of ACADIA Pharmaceuticals from $35.00 to $36.00 and gave the company a "market outperform" rating in a report on Wednesday, August 5th. Canaccord Genuity Group raised their price objective on shares of ACADIA Pharmaceuticals from $32.00 to $36.00 and gave the stock a "buy" rating in a report on Monday, June 29th. Morgan Stanley set a $27.00 target price on shares of ACADIA Pharmaceuticals in a research report on Monday, August 10th. Bank of America reissued a "buy" rating and issued a $14.50 target price on shares of ACADIA Pharmaceuticals in a research note on Wednesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $37.00 price target on shares of ACADIA Pharmaceuticals in a research report on Monday, June 29th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.19.
View Our Latest Report on ACAD
ACADIA Pharmaceuticals Company Profile
(
Free Report)
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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