National Wealth Management Group LLC Makes New $328,000 Investment in ACADIA Pharmaceuticals Inc. $ACAD

Key Points

• National Wealth Management Group LLC has acquired 19,746 shares of ACADIA Pharmaceuticals, valued at approximately $328,000, marking a new investment in the firm's stock.
• ACADIA Pharmaceuticals has seen high interest from institutional investors, with 96.71% of its shares now owned by these entities, including significant increases from funds like Dimensional Fund Advisors and Schonfeld Strategic Advisors.
• Analysts have varying ratings for ACADIA Pharmaceuticals, with a consensus rating of "Moderate Buy" and a price target averaging around $28.88, reflecting optimism about the company's future performance.

National Wealth Management Group LLC acquired a new position in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 19,746 shares of the biopharmaceutical company's stock, valued at approximately $328,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in ACADIA Pharmaceuticals by 9.0% in the 1st quarter. Vanguard Group Inc. now owns 15,203,234 shares of the biopharmaceutical company's stock valued at $252,526,000 after acquiring an additional 1,255,594 shares during the period. Assenagon Asset Management S.A. acquired a new stake in ACADIA Pharmaceuticals in the 1st quarter valued at $60,845,000. Point72 Asset Management L.P. acquired a new stake in ACADIA Pharmaceuticals in the 4th quarter valued at $40,935,000. Jacobs Levy Equity Management Inc. grew its stake in ACADIA Pharmaceuticals by 73.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,977,432 shares of the biopharmaceutical company's stock valued at $32,845,000 after acquiring an additional 838,728 shares during the period. Finally, American Century Companies Inc. grew its stake in ACADIA Pharmaceuticals by 1,055.8% in the 1st quarter. American Century Companies Inc. now owns 1,632,749 shares of the biopharmaceutical company's stock valued at $27,120,000 after acquiring an additional 1,491,484 shares during the period. Institutional investors and hedge funds own 96.71% of the company's stock.

ACADIA Pharmaceuticals Stock Performance

Shares of NASDAQ ACAD traded down $0.93 during trading on Wednesday, hitting $23.91. 1,010,126 shares of the company were exchanged, compared to its average volume of 2,155,647. ACADIA Pharmaceuticals Inc. has a 12-month low of $13.40 and a 12-month high of $26.65. The company has a fifty day moving average price of $23.82 and a 200-day moving average price of $20.23. The firm has a market capitalization of $4.03 billion, a PE ratio of 17.97, a P/E/G ratio of 6.43 and a beta of 0.75.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating and lifted their price target for the company from $20.00 to $35.00 in a research note on Wednesday, May 21st. Oppenheimer reissued a "market perform" rating and issued a $22.00 price target (up previously from $19.00) on shares of ACADIA Pharmaceuticals in a research note on Thursday, June 26th. The Goldman Sachs Group lifted their price target on shares of ACADIA Pharmaceuticals from $15.00 to $17.00 and gave the company a "sell" rating in a research note on Thursday, August 7th. UBS Group lifted their price target on shares of ACADIA Pharmaceuticals from $36.00 to $39.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Mizuho raised their price objective on ACADIA Pharmaceuticals from $23.00 to $24.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued 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 company currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.06.

Insider Transactions at ACADIA Pharmaceuticals

In related news, Director Elizabeth A. Garofalo sold 1,600 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $25.98, for a total transaction 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 trade represents a 5.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark C. Schneyer sold 22,000 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $25.18, for a total value of $553,960.00. Following the sale, the executive vice president directly owned 40,130 shares of the company's stock, valued at $1,010,473.40. The trade was a 35.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. 28.30% of the stock is currently owned by company insiders.

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.