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

JT Stratford LLC purchased a new stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 15,170 shares of the biopharmaceutical company's stock, valued at approximately $278,000.

Several other hedge funds also recently made changes to their positions in ACAD. Vanguard Group Inc. lifted its position in ACADIA Pharmaceuticals by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 13,947,640 shares of the biopharmaceutical company's stock valued at $255,939,000 after buying an additional 104,444 shares during the period. First Trust Advisors LP grew its position in shares of ACADIA Pharmaceuticals by 27.0% in the 4th quarter. First Trust Advisors LP now owns 2,700,125 shares of the biopharmaceutical company's stock worth $49,547,000 after buying an additional 574,251 shares during the period. SG Americas Securities LLC increased its stake in shares of ACADIA Pharmaceuticals by 380.3% in the 4th quarter. SG Americas Securities LLC now owns 2,483,731 shares of the biopharmaceutical company's stock worth $45,576,000 after acquiring an additional 1,966,607 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in ACADIA Pharmaceuticals during the 4th quarter valued at about $40,935,000. Finally, Norges Bank bought a new stake in ACADIA Pharmaceuticals during the fourth quarter worth about $25,555,000. 96.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other news, insider James Kihara sold 4,000 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $22.50, for a total value of $90,000.00. Following the transaction, the insider now owns 20,395 shares in the company, valued at $458,887.50. This represents a 16.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Elizabeth A. Garofalo sold 4,919 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total transaction of $89,673.37. Following the completion of the transaction, the director now directly owns 17,595 shares in the company, valued at approximately $320,756.85. The trade was a 21.85% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,994 shares of company stock worth $453,131. Insiders own 26.50% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Needham & Company LLC lifted their target price on shares of ACADIA Pharmaceuticals from $27.00 to $30.00 and gave the company a "buy" rating in a report on Monday. UBS Group reduced their price objective on ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating for the company in a research report on Monday, April 28th. 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 report on Monday. Deutsche Bank Aktiengesellschaft raised ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating and increased their target price for the stock from $20.00 to $35.00 in a research note on Wednesday. Finally, Robert W. Baird lifted their price target on ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the stock an "outperform" rating in a research report on Monday. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, ACADIA Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $26.83.

ACADIA Pharmaceuticals Stock Performance

NASDAQ ACAD opened at $21.55 on Friday. ACADIA Pharmaceuticals Inc. has a one year low of $13.40 and a one year high of $25.23. The stock has a 50-day moving average of $16.29 and a 200 day moving average of $17.27. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of 27.63 and a beta of 0.47.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. The firm had revenue of $244.32 million during 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%. The business's revenue for the quarter was up 18.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.10 earnings per share. On average, equities analysts predict that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current fiscal year.

ACADIA Pharmaceuticals 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.

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