Hsbc Holdings PLC Takes $984,000 Position in ACADIA Pharmaceuticals Inc. $ACAD

Key Points

• HSBC Holdings purchased 38,862 shares of ACADIA Pharmaceuticals in the second quarter, valued at approximately $984,000. Institutional investors collectively own 96.71% of the company.
• Analyst sentiment remains favorable, with 14 Buy ratings and four Holds producing a “Moderate Buy” consensus and an average price target of $34.36.
• ACADIA exceeded quarterly expectations, reporting $0.18 in EPS versus a $0.07 estimate and $308 million in revenue, up 16.4% year over year. However, company insiders sold 36,699 shares worth about $1.02 million over the past 90 days.

Hsbc Holdings PLC purchased a new stake in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 38,862 shares of the biopharmaceutical company's stock, valued at approximately $984,000.

A number of other large investors have also added to or reduced their stakes in ACAD. Farther Finance Advisors LLC raised its holdings in ACADIA Pharmaceuticals by 67.5% in 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. GAMMA Investing LLC lifted its position in shares of ACADIA Pharmaceuticals by 15.6% during the 2nd quarter. GAMMA Investing LLC now owns 2,985 shares of the biopharmaceutical company's stock valued at $76,000 after acquiring an additional 402 shares during the period. Cetera Investment Advisers grew its holdings in shares of ACADIA Pharmaceuticals by 2.7% during the 4th quarter. Cetera Investment Advisers now owns 16,355 shares of the biopharmaceutical company's stock worth $437,000 after purchasing an additional 436 shares in the last quarter. J.W. Cole Advisors Inc. grew its holdings in shares of ACADIA Pharmaceuticals by 2.5% during the 4th quarter. J.W. Cole Advisors Inc. now owns 20,632 shares of the biopharmaceutical company's stock worth $551,000 after purchasing an additional 501 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in shares of ACADIA Pharmaceuticals by 2.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 28,666 shares of the biopharmaceutical company's stock worth $766,000 after purchasing an additional 566 shares during the period. Institutional investors and hedge funds own 96.71% of the company's stock.

Analyst Ratings Changes

ACAD has been the subject of several recent analyst reports. Morgan Stanley upped their price objective on shares of ACADIA Pharmaceuticals from $27.00 to $28.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 25th. Weiss Ratings raised shares of ACADIA Pharmaceuticals from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, August 12th. Royal Bank Of Canada boosted their target price on shares of ACADIA Pharmaceuticals from $36.00 to $37.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. Wall Street Zen raised shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, Stifel Nicolaus increased their price target on shares of ACADIA Pharmaceuticals from $24.00 to $25.00 and gave the stock a "hold" rating in a research report on Tuesday, July 21st. Fourteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, ACADIA Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $34.36.

ACADIA Pharmaceuticals Stock Down 0.1%

NASDAQ:ACAD opened at $28.89 on Wednesday. The stock's 50-day simple moving average is $27.05 and its 200 day simple moving average is $23.76. The firm has a market capitalization of $4.98 billion, a PE ratio of 13.01, a price-to-earnings-growth ratio of 21.56 and a beta of 0.81. ACADIA Pharmaceuticals Inc. has a twelve month low of $19.69 and a twelve month high of $30.96.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.07 by $0.11. The firm had revenue of $308.00 million for the quarter, compared to analysts' expectations of $296.55 million. ACADIA Pharmaceuticals had a return on equity of 9.03% and a net margin of 33.42%.The business's revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.16 earnings per share. On average, analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Mark C. Schneyer sold 14,292 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $29.22, for a total transaction of $417,612.24. Following the sale, the executive vice president directly owned 67,828 shares of the company's stock, valued at approximately $1,981,934.16. The trade was a 17.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through 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 the company's stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $26.13, for a total transaction of $432,660.54. Following the transaction, the executive vice president owned 18,994 shares of the company's stock, valued at approximately $496,313.22. This represents a 46.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 36,699 shares of company stock worth $1,019,894. 26.20% of the stock is currently owned by corporate insiders.

About ACADIA Pharmaceuticals

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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