Mackenzie Financial Corp Raises Stock Holdings in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Mackenzie Financial Corp boosted its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 180.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,065 shares of the biopharmaceutical company's stock after purchasing an additional 32,833 shares during the period. Mackenzie Financial Corp's holdings in ACADIA Pharmaceuticals were worth $937,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Virtus Fund Advisers LLC acquired a new stake in ACADIA Pharmaceuticals during the 4th quarter worth approximately $39,000. R Squared Ltd acquired a new position in shares of ACADIA Pharmaceuticals during the fourth quarter worth $47,000. GF Fund Management CO. LTD. bought a new stake in shares of ACADIA Pharmaceuticals in the fourth quarter worth $64,000. KBC Group NV increased its holdings in ACADIA Pharmaceuticals by 67.0% in the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company's stock valued at $93,000 after purchasing an additional 2,044 shares during the period. Finally, Globeflex Capital L P bought a new position in ACADIA Pharmaceuticals during the 4th quarter worth $168,000. 96.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ACAD has been the topic of a number of analyst reports. BMO Capital Markets upped their price target on ACADIA Pharmaceuticals from $24.00 to $28.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Robert W. Baird increased their target price on shares of ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Cantor Fitzgerald restated an "overweight" rating and issued a $28.00 price target on shares of ACADIA Pharmaceuticals in a research report on Thursday, February 27th. Morgan Stanley set a $24.00 target price on shares of ACADIA Pharmaceuticals and gave the stock an "equal weight" rating in a research note on Tuesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating and boosted their target price for the company from $20.00 to $35.00 in a report on Wednesday, May 21st. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, ACADIA Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $26.54.

ACADIA Pharmaceuticals Stock Performance

Shares of ACADIA Pharmaceuticals stock traded down $0.43 on Thursday, hitting $21.34. The company had a trading volume of 1,499,758 shares, compared to its average volume of 1,936,704. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 27.36 and a beta of 0.47. The stock has a 50 day moving average of $17.24 and a 200-day moving average of $17.60. ACADIA Pharmaceuticals Inc. has a 1 year low of $13.40 and a 1 year high of $25.23.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its 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. ACADIA Pharmaceuticals had a return on equity of 25.83% and a net margin of 13.83%. The company had revenue of $244.32 million for the quarter, compared to analysts' expectations of $239.32 million. During the same period in the previous year, the business posted $0.10 EPS. The business's revenue for the quarter was up 18.7% compared to the same quarter last year. Equities analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

Insider Transactions at ACADIA Pharmaceuticals

In related news, insider James Kihara sold 4,000 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $22.50, for a total value of $90,000.00. Following the sale, the insider now owns 20,395 shares in the company, valued at approximately $458,887.50. This trade represents a 16.40% decrease in their ownership of the stock. The sale 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 the company's stock in a transaction on Friday, May 16th. The stock was 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 owns 62,130 shares of the company's stock, valued at $1,553,250. This trade represents a 3.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,827 shares of company stock valued at $338,548 over the last three months. Company 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.