Meeder Asset Management Inc. Invests $448,000 in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Key Points

• Meeder Asset Management Inc. invested approximately $448,000 in ACADIA Pharmaceuticals, acquiring 26,960 shares during the first quarter, highlighting growing interest from institutional investors.
• ACADIA Pharmaceuticals reported a net margin of 22.97% and an 18.7% year-over-year increase in revenue, with earnings exceeding analyst estimates.
• Analysts maintain a consensus "Moderate Buy" rating for ACADIA Pharmaceuticals, with targets ranging from $22 to $38 per share, reflecting varying levels of market optimism.

Meeder Asset Management Inc. bought a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 26,960 shares of the biopharmaceutical company's stock, valued at approximately $448,000.

A number of other hedge funds have also made changes to their positions in ACAD. Exchange Traded Concepts LLC acquired a new stake in ACADIA Pharmaceuticals in the first quarter worth about $29,000. Picton Mahoney Asset Management acquired a new stake in shares of ACADIA Pharmaceuticals in the 1st quarter valued at about $32,000. Virtus Fund Advisers LLC acquired a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth about $39,000. GAMMA Investing LLC boosted its stake in shares of ACADIA Pharmaceuticals by 627.3% during the 1st quarter. GAMMA Investing LLC now owns 3,513 shares of the biopharmaceutical company's stock worth $58,000 after buying an additional 3,030 shares during the last quarter. Finally, GF Fund Management CO. LTD. acquired a new position in shares of ACADIA Pharmaceuticals during the 4th quarter worth about $64,000. Institutional investors and hedge funds own 96.71% of the company's stock.

ACADIA Pharmaceuticals Stock Up 4.0%

ACAD stock traded up $0.90 during mid-day trading on Wednesday, hitting $23.53. The company had a trading volume of 1,840,143 shares, compared to its average volume of 1,611,068. ACADIA Pharmaceuticals Inc. has a 12-month low of $13.40 and a 12-month high of $25.23. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 17.18, a P/E/G ratio of 4.93 and a beta of 0.64. The company has a 50-day moving average price of $22.10 and a 200 day moving average price of $18.95.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last announced its earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. The business had revenue of $244.32 million for the quarter, compared to the consensus estimate of $239.32 million. ACADIA Pharmaceuticals had a net margin of 22.97% and a return on equity of 17.46%. The business's revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 earnings per share. As a group, analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ACAD shares. Cantor Fitzgerald raised shares of ACADIA Pharmaceuticals to a "strong-buy" rating in a research report on Thursday, June 5th. JPMorgan Chase & Co. upped their price target on shares of ACADIA Pharmaceuticals from $30.00 to $34.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Royal Bank Of Canada upped their price objective on ACADIA Pharmaceuticals from $26.00 to $38.00 and gave the stock an "outperform" rating in a research report on Monday, June 23rd. UBS Group reduced their price objective on ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $30.00 price target on shares of ACADIA Pharmaceuticals in a research note on Thursday, June 26th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $28.13.

Insider Buying and Selling

In other news, Director Laura Brege sold 14,446 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $21.78, for a total transaction of $314,633.88. Following the sale, the director directly owned 15,095 shares in the company, valued at $328,769.10. This trade represents a 48.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark C. Schneyer sold 3,498 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $14.60, for a total transaction of $51,070.80. Following the sale, the executive vice president directly owned 62,773 shares of the company's stock, valued at $916,485.80. The trade was a 5.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,271 shares of company stock worth $525,079 in the last ninety days. 26.50% of the stock is owned by insiders.

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.