Invesco Ltd. Has $12.15 Million Holdings in ACADIA Pharmaceuticals Inc. $ACAD

Key Points

• Invesco Ltd. increased its stake in ACADIA Pharmaceuticals Inc. by 42.8%, owning 731,576 shares worth approximately $12.15 million as of its latest SEC filing.
• Research firms have diversified their ratings on ACADIA, with Deutsche Bank upgrading it from "hold" to "buy" and setting a new price target of $35.00.
• ACADIA Pharmaceuticals reported a revenue of $264.57 million for the last quarter, exceeding analyst estimates, and posted $0.16 earnings per share, also above forecasts.

Invesco Ltd. boosted its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 42.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 731,576 shares of the biopharmaceutical company's stock after purchasing an additional 219,256 shares during the period. Invesco Ltd. owned about 0.44% of ACADIA Pharmaceuticals worth $12,151,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Assenagon Asset Management S.A. acquired a new stake in ACADIA Pharmaceuticals in the 1st quarter worth about $60,845,000. Point72 Asset Management L.P. acquired a new stake in ACADIA Pharmaceuticals in the 4th quarter worth about $40,935,000. Vanguard Group Inc. grew its stake in ACADIA Pharmaceuticals by 9.0% during the first quarter. Vanguard Group Inc. now owns 15,203,234 shares of the biopharmaceutical company's stock worth $252,526,000 after buying an additional 1,255,594 shares in the last quarter. Two Sigma Advisers LP grew its stake in ACADIA Pharmaceuticals by 160.8% during the fourth quarter. Two Sigma Advisers LP now owns 1,263,200 shares of the biopharmaceutical company's stock worth $23,180,000 after buying an additional 778,900 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in ACADIA Pharmaceuticals during the fourth quarter worth about $11,643,000. Institutional investors and hedge funds own 96.71% of the company's stock.

ACADIA Pharmaceuticals Stock Performance

Shares of ACAD stock traded down $0.24 on Friday, hitting $25.99. The company had a trading volume of 1,322,541 shares, compared to its average volume of 2,047,005. The firm has a market cap of $4.38 billion, a P/E ratio of 19.54, a P/E/G ratio of 6.68 and a beta of 0.70. The stock's 50-day moving average is $23.35 and its two-hundred day moving average is $19.96. ACADIA Pharmaceuticals Inc. has a twelve month low of $13.40 and a twelve month high of $26.65.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. The company had revenue of $264.57 million during the quarter, compared to analysts' expectations of $263.07 million. ACADIA Pharmaceuticals had a return on equity of 14.69% and a net margin of 21.80%.The business's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.20 earnings per share. Equities research analysts predict that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current year.

Insider Transactions at ACADIA Pharmaceuticals

In other news, EVP Mark C. Schneyer sold 22,000 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $25.18, for a total value of $553,960.00. Following the completion of the sale, the executive vice president directly owned 40,130 shares in the company, valued at $1,010,473.40. This trade represents a 35.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Laura Brege sold 14,446 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $21.78, for a total value of $314,633.88. Following the completion of the sale, the director owned 15,095 shares of the company's stock, valued at approximately $328,769.10. This represents a 48.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ACAD shares. Wall Street Zen upgraded shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. The Goldman Sachs Group boosted their target price on ACADIA Pharmaceuticals from $15.00 to $17.00 and gave the stock a "sell" rating in a research note on Thursday, August 7th. BMO Capital Markets boosted their target price on ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. Oppenheimer reissued a "market perform" rating and set a $22.00 target price (up previously from $19.00) on shares of ACADIA Pharmaceuticals in a research note on Thursday, June 26th. Finally, Deutsche Bank Aktiengesellschaft raised ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating and boosted their target price for the stock 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 issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.88.

ACADIA Pharmaceuticals Company 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.