Kingstone Capital Partners Texas LLC Buys New Shares in ACADIA Pharmaceuticals Inc. $ACAD

Key Points

• Kingstone Capital Partners Texas LLC purchased 15,600 shares of ACADIA Pharmaceuticals, valued at approximately $336,000, in the second quarter.
• Analyst ratings are generally positive, with UBS Group raising the price target for ACADIA Pharmaceuticals from $36.00 to $39.00 and giving it a "buy" rating.
• ACADIA Pharmaceuticals reported a revenue of $264.57 million for the last quarter, surpassing analyst expectations of $263.07 million.

Kingstone Capital Partners Texas LLC bought a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 15,600 shares of the biopharmaceutical company's stock, valued at approximately $336,000.

Several other hedge funds also recently added to or reduced their stakes in ACAD. Wealth Enhancement Advisory Services LLC acquired a new stake in ACADIA Pharmaceuticals in the 2nd quarter worth approximately $511,000. Pallas Capital Advisors LLC acquired a new position in shares of ACADIA Pharmaceuticals during the second quarter worth about $273,000. Wesbanco Bank Inc. boosted its position in shares of ACADIA Pharmaceuticals by 51.0% in the 2nd quarter. Wesbanco Bank Inc. now owns 78,200 shares of the biopharmaceutical company's stock worth $1,687,000 after buying an additional 26,400 shares in the last quarter. Voya Investment Management LLC boosted its stake in ACADIA Pharmaceuticals by 70.3% in the 1st quarter. Voya Investment Management LLC now owns 61,585 shares of the biopharmaceutical company's stock worth $1,023,000 after buying an additional 25,418 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in ACADIA Pharmaceuticals by 100.9% in the 1st quarter. Rhumbline Advisers now owns 352,716 shares of the biopharmaceutical company's stock worth $5,859,000 after acquiring an additional 177,188 shares during the period. 96.71% of the stock is currently owned by institutional investors.

ACADIA Pharmaceuticals Stock Up 0.5%

Shares of ACADIA Pharmaceuticals stock traded up $0.11 on Monday, reaching $24.53. 1,738,704 shares of the stock were exchanged, compared to its average volume of 1,918,114. The business has a 50 day moving average price of $24.36 and a two-hundred day moving average price of $20.60. ACADIA Pharmaceuticals Inc. has a twelve month low of $13.40 and a twelve month high of $26.65. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 6.19 and a beta of 0.75.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. The company had revenue of $264.57 million for 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 firm's revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.20 earnings per share. Research analysts forecast that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ACAD. Bank of America raised their price objective on ACADIA Pharmaceuticals from $18.00 to $23.00 and gave the stock a "hold" rating in a research note on Thursday, June 5th. Cantor Fitzgerald upgraded ACADIA Pharmaceuticals to a "strong-buy" rating in a report on Thursday, June 5th. Cowen reissued a "buy" rating on shares of ACADIA Pharmaceuticals in a report on Thursday, September 11th. TD Cowen boosted their price target on shares of ACADIA Pharmaceuticals from $35.00 to $39.00 and gave the stock a "buy" rating in a research report on Thursday, September 11th. Finally, Wall Street Zen downgraded ACADIA Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, ACADIA Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.65.

Insider Transactions at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 3,498 shares of the business's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $23.65, for a total transaction of $82,727.70. Following the completion of the sale, the executive vice president owned 43,447 shares of the company's stock, valued at approximately $1,027,521.55. The trade was a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the sale, the director directly owned 25,382 shares of the company's stock, valued at approximately $659,424.36. This represents a 5.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,098 shares of company stock valued at $678,256. Insiders own 28.30% of the company's stock.

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.