ACADIA Pharmaceuticals Inc. $ACAD Shares Purchased by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in ACADIA Pharmaceuticals by 73.7%, owning nearly 1.98 million shares valued at approximately $32.8 million according to its latest SEC filing.
• Institutional investors hold a significant majority of ACADIA's stock, with over 96.71% owned by various large investors, including Assenagon Asset Management and Vanguard Group.
• ACADIA Pharmaceuticals posted earnings of $0.16 per share for the last quarter, surpassing analysts' expectations, while revenue increased by 9.4% year-over-year.

Jacobs Levy Equity Management Inc. raised its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 73.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,977,432 shares of the biopharmaceutical company's stock after buying an additional 838,728 shares during the period. Jacobs Levy Equity Management Inc. owned about 1.18% of ACADIA Pharmaceuticals worth $32,845,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. increased its holdings in ACADIA Pharmaceuticals by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 4,260 shares of the biopharmaceutical company's stock valued at $71,000 after buying an additional 766 shares in the last quarter. Xponance Inc. increased its holdings in ACADIA Pharmaceuticals by 14.1% in the first quarter. Xponance Inc. now owns 11,585 shares of the biopharmaceutical company's stock valued at $192,000 after buying an additional 1,434 shares in the last quarter. Federated Hermes Inc. increased its holdings in ACADIA Pharmaceuticals by 231.5% in the first quarter. Federated Hermes Inc. now owns 2,317 shares of the biopharmaceutical company's stock valued at $38,000 after buying an additional 1,618 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in ACADIA Pharmaceuticals in the first quarter valued at $29,000. Finally, Picton Mahoney Asset Management purchased a new position in ACADIA Pharmaceuticals in the first quarter valued at $32,000. Hedge funds and other institutional investors own 96.71% of the company's stock.

ACADIA Pharmaceuticals Stock Up 1.1%

NASDAQ:ACAD traded up $0.26 on Thursday, hitting $24.06. The stock had a trading volume of 509,573 shares, compared to its average volume of 2,153,050. The stock has a market cap of $4.06 billion, a price-to-earnings ratio of 18.10, a PEG ratio of 6.29 and a beta of 0.75. The company has a fifty day moving average price of $23.88 and a two-hundred day moving average price of $20.26. ACADIA Pharmaceuticals Inc. has a 1-year low of $13.40 and a 1-year high of $26.65.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last posted its 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 for the quarter, compared to analyst estimates of $263.07 million. ACADIA Pharmaceuticals had a net margin of 21.80% and a return on equity of 14.69%. ACADIA Pharmaceuticals's revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.20 EPS. As a group, analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Cantor Fitzgerald raised shares of ACADIA Pharmaceuticals to a "strong-buy" rating in a research note on Thursday, June 5th. HC Wainwright reissued a "buy" rating and set a $32.00 target price on shares of ACADIA Pharmaceuticals in a research note on Thursday, June 26th. BMO Capital Markets boosted their target price on shares of ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. Royal Bank Of Canada boosted their target price on shares of ACADIA Pharmaceuticals from $39.00 to $40.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, Wall Street Zen cut shares of ACADIA Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.65.

Insider Activity

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 1,600 shares of the business's 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 in the company, valued at $659,424.36. The trade was a 5.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark C. Schneyer sold 22,000 shares of the business's stock in a transaction dated Monday, August 18th. The shares were 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 in the company, valued at $1,010,473.40. The trade was a 35.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 26.50% of the company's stock.

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.