Kodai Capital Management LP Acquires New Holdings in ACADIA Pharmaceuticals Inc. $ACAD

Key Points

• Kodai Capital Management LP acquired a new stake in ACADIA Pharmaceuticals, purchasing 53,497 shares valued at approximately $889,000 in the 1st quarter.
• Institutional ownership of ACADIA Pharmaceuticals remains high, with 96.71% of the stock owned by institutional investors and hedge funds.
• Analysts have shown a generally positive outlook on ACADIA Pharmaceuticals, with a consensus rating of "Moderate Buy" and a target price of $28.88.

Kodai Capital Management LP purchased a new position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 53,497 shares of the biopharmaceutical company's stock, valued at approximately $889,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of ACAD. Exchange Traded Concepts LLC acquired a new stake in ACADIA Pharmaceuticals in the 1st quarter worth $29,000. Picton Mahoney Asset Management acquired a new stake in ACADIA Pharmaceuticals in the 1st quarter worth $32,000. Federated Hermes Inc. grew its position in ACADIA Pharmaceuticals by 231.5% in the 1st quarter. Federated Hermes Inc. now owns 2,317 shares of the biopharmaceutical company's stock worth $38,000 after purchasing an additional 1,618 shares during the last quarter. Virtus Fund Advisers LLC acquired a new stake in ACADIA Pharmaceuticals in the 4th quarter worth $39,000. Finally, Quantbot Technologies LP acquired a new stake in ACADIA Pharmaceuticals in the 1st quarter worth $52,000. 96.71% of the stock is currently owned by institutional investors and hedge funds.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ ACAD traded down $0.24 during trading on Monday, reaching $25.99. The company had a trading volume of 1,322,541 shares, compared to its average volume of 2,025,328. ACADIA Pharmaceuticals Inc. has a 52 week low of $13.40 and a 52 week high of $26.65. The stock has a market cap of $4.38 billion, a PE ratio of 19.54, a PEG ratio of 6.62 and a beta of 0.75. The business's 50 day moving average price is $23.42 and its 200-day moving average price is $20.00.

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

Analyst Ratings Changes

ACAD has been the topic of several research analyst reports. Royal Bank Of Canada raised their price target on shares of ACADIA Pharmaceuticals from $39.00 to $40.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft upgraded shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating and lifted their target price for the company from $20.00 to $35.00 in a research report on Wednesday, May 21st. HC Wainwright reissued a "buy" rating and set a $32.00 price target on shares of ACADIA Pharmaceuticals in a report on Thursday, June 26th. Morgan Stanley set a $24.00 price target on shares of ACADIA Pharmaceuticals and gave the company an "equal weight" rating in a report on Tuesday, May 20th. Finally, Mizuho lifted their price target on shares of ACADIA Pharmaceuticals from $23.00 to $24.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $28.88.

Insider Transactions at ACADIA Pharmaceuticals

In related news, Director Laura Brege sold 14,446 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $21.78, for a total transaction of $314,633.88. Following the completion of the sale, the director directly owned 15,095 shares of the company's stock, valued at $328,769.10. The trade was a 48.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Mark C. Schneyer sold 22,000 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $25.18, for a total transaction of $553,960.00. Following the sale, the executive vice president directly owned 40,130 shares of the company's stock, valued at approximately $1,010,473.40. This trade represents a 35.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 28.30% 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.