Neo Ivy Capital Management Purchases 54,022 Shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)

Neo Ivy Capital Management raised its position in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 1,551.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,504 shares of the biopharmaceutical company's stock after acquiring an additional 54,022 shares during the period. Neo Ivy Capital Management's holdings in ACADIA Pharmaceuticals were worth $1,055,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ACAD. Vanguard Group Inc. boosted its holdings in ACADIA Pharmaceuticals by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 13,947,640 shares of the biopharmaceutical company's stock valued at $255,939,000 after purchasing an additional 104,444 shares during the last quarter. First Trust Advisors LP increased its stake in ACADIA Pharmaceuticals by 27.0% during the 4th quarter. First Trust Advisors LP now owns 2,700,125 shares of the biopharmaceutical company's stock worth $49,547,000 after buying an additional 574,251 shares during the period. Point72 Asset Management L.P. purchased a new stake in ACADIA Pharmaceuticals during the 4th quarter worth approximately $40,935,000. Norges Bank purchased a new stake in ACADIA Pharmaceuticals during the 4th quarter worth approximately $25,555,000. Finally, Two Sigma Advisers LP increased its stake in ACADIA Pharmaceuticals by 160.8% during the 4th quarter. Two Sigma Advisers LP now owns 1,263,200 shares of the biopharmaceutical company's stock worth $23,180,000 after buying an additional 778,900 shares during the period. 96.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Elizabeth A. Garofalo sold 4,919 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $18.23, for a total transaction of $89,673.37. Following the completion of the sale, the director now directly owns 17,595 shares in the company, valued at approximately $320,756.85. This trade represents a 21.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark C. Schneyer sold 2,708 shares of ACADIA Pharmaceuticals stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $14.82, for a total transaction of $40,132.56. Following the completion of the transaction, the executive vice president now directly owns 59,456 shares in the company, valued at approximately $881,137.92. This represents a 4.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,746 shares of company stock valued at $428,221 over the last 90 days. 28.30% of the stock is currently owned by company insiders.

ACADIA Pharmaceuticals Stock Performance

Shares of ACADIA Pharmaceuticals stock traded up $0.51 during trading on Thursday, hitting $22.53. 380,444 shares of the stock were exchanged, compared to its average volume of 1,929,521. The stock's fifty day moving average is $16.68 and its 200 day moving average is $17.42. The stock has a market cap of $3.77 billion, a PE ratio of 28.86 and a beta of 0.47. ACADIA Pharmaceuticals Inc. has a 12 month low of $13.40 and a 12 month high of $25.23.

ACADIA Pharmaceuticals (NASDAQ:ACAD - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The biopharmaceutical company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. The business had revenue of $244.32 million during the quarter, compared to analyst estimates of $239.32 million. ACADIA Pharmaceuticals had a net margin of 13.83% and a return on equity of 25.83%. The company's quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 earnings per share. Sell-side analysts anticipate that ACADIA Pharmaceuticals Inc. will post 0.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. 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. Royal Bank of Canada restated an "outperform" rating and issued a $26.00 target price on shares of ACADIA Pharmaceuticals in a research note on Monday, May 19th. HC Wainwright raised their target price on shares of ACADIA Pharmaceuticals from $27.00 to $32.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Wall Street Zen upgraded shares of ACADIA Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. Finally, Mizuho raised their target price on shares of ACADIA Pharmaceuticals from $20.00 to $23.00 and gave the stock a "neutral" rating in a research note on Monday, May 19th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $26.83.

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.