JT Stratford LLC Takes $278,000 Position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

JT Stratford LLC bought a new position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 15,170 shares of the biopharmaceutical company's stock, valued at approximately $278,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of ACADIA Pharmaceuticals by 15.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 219,125 shares of the biopharmaceutical company's stock valued at $4,021,000 after purchasing an additional 29,386 shares in the last quarter. Woodline Partners LP purchased a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter worth about $491,000. Virtus Fund Advisers LLC purchased a new position in ACADIA Pharmaceuticals during the fourth quarter valued at approximately $39,000. Virtus Investment Advisers Inc. purchased a new position in ACADIA Pharmaceuticals in the 4th quarter worth approximately $722,000. Finally, Two Sigma Advisers LP boosted its stake in shares of 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 valued at $23,180,000 after purchasing an additional 778,900 shares during the period. Institutional investors own 96.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ACAD shares. Oppenheimer reiterated a "market perform" rating on shares of ACADIA Pharmaceuticals in a research report on Friday, May 16th. Royal Bank of Canada restated an "outperform" rating and set a $26.00 target price on shares of ACADIA Pharmaceuticals in a report on Monday, May 19th. HC Wainwright boosted their price objective on shares of ACADIA Pharmaceuticals from $27.00 to $32.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Needham & Company LLC upped their price target on ACADIA Pharmaceuticals from $27.00 to $30.00 and gave the company a "buy" rating in a report on Monday, May 19th. Finally, BMO Capital Markets boosted their price target on ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, ACADIA Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $26.83.

Insider Activity at ACADIA Pharmaceuticals

In related news, Director Elizabeth A. Garofalo sold 4,919 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total value of $89,673.37. Following the transaction, the director now directly owns 17,595 shares of the company's stock, valued at $320,756.85. This trade represents a 21.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark C. Schneyer sold 2,000 shares of ACADIA Pharmaceuticals stock in a transaction on Friday, May 16th. The shares were sold at an average price of $25.00, for a total transaction of $50,000.00. Following the completion of the transaction, the executive vice president now directly owns 62,130 shares in the company, valued at $1,553,250. The trade was a 3.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,746 shares of company stock valued at $428,221 in the last ninety days. Company insiders own 28.30% of the company's stock.

ACADIA Pharmaceuticals Trading Down 0.5%

Shares of ACADIA Pharmaceuticals stock traded down $0.12 during trading on Wednesday, hitting $22.07. 423,281 shares of the stock traded hands, compared to its average volume of 1,928,180. ACADIA Pharmaceuticals Inc. has a 52-week low of $13.40 and a 52-week high of $25.23. The stock's fifty day simple moving average is $16.57 and its 200 day simple moving average is $17.39. The firm has a market cap of $3.69 billion, a P/E ratio of 28.28 and a beta of 0.47.

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

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.