Hennion & Walsh Asset Management Inc. Boosts Stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Hennion & Walsh Asset Management Inc. boosted its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 26.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 131,061 shares of the biopharmaceutical company's stock after purchasing an additional 27,736 shares during the period. Hennion & Walsh Asset Management Inc. owned 0.08% of ACADIA Pharmaceuticals worth $2,177,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of ACAD. Virtus Fund Advisers LLC acquired a new stake in shares of ACADIA Pharmaceuticals in the 4th quarter valued at approximately $39,000. GF Fund Management CO. LTD. bought a new stake in ACADIA Pharmaceuticals during the fourth quarter worth $64,000. KBC Group NV lifted its stake in ACADIA Pharmaceuticals by 67.0% in the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company's stock valued at $93,000 after acquiring an additional 2,044 shares during the last quarter. Globeflex Capital L P bought a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at about $168,000. Finally, Xponance Inc. bought a new position in shares of ACADIA Pharmaceuticals in the 4th quarter valued at about $186,000. 96.71% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider James Kihara sold 4,000 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $22.50, for a total transaction of $90,000.00. Following the transaction, the insider now directly owns 20,395 shares of the company's stock, valued at approximately $458,887.50. The trade was a 16.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Laura Brege sold 14,446 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $21.78, for a total transaction of $314,633.88. Following the completion of the transaction, the director now owns 15,095 shares of the company's stock, valued at $328,769.10. This trade represents a 48.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,273 shares of company stock valued at $653,182. Insiders own 26.50% of the company's stock.

ACADIA Pharmaceuticals Trading Up 3.0%

Shares of NASDAQ ACAD traded up $0.64 during midday trading on Friday, hitting $21.98. 1,280,062 shares of the company's stock were exchanged, compared to its average volume of 1,934,088. The business's fifty day moving average price is $17.24 and its two-hundred day moving average price is $17.60. The company has a market cap of $3.68 billion, a price-to-earnings ratio of 28.18 and a beta of 0.47. ACADIA Pharmaceuticals Inc. has a 12-month low of $13.40 and a 12-month high of $25.23.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald raised shares of ACADIA Pharmaceuticals to a "strong-buy" rating in a report on Thursday. BMO Capital Markets upped 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. Oppenheimer reiterated a "market perform" rating on shares of ACADIA Pharmaceuticals in a research note on Friday, May 16th. HC Wainwright increased their price target on ACADIA Pharmaceuticals from $27.00 to $32.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $26.00 price target on shares of ACADIA Pharmaceuticals in a report on Monday, May 19th. 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's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $26.79.

About ACADIA Pharmaceuticals

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.