ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) Stake Increased by Phocas Financial Corp.

Phocas Financial Corp. grew its stake in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD - Free Report) by 79.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 107,811 shares of the biopharmaceutical company's stock after purchasing an additional 47,596 shares during the quarter. Phocas Financial Corp. owned 0.06% of ACADIA Pharmaceuticals worth $1,978,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ACAD. Virtus Fund Advisers LLC purchased a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth about $39,000. R Squared Ltd purchased a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth about $47,000. GF Fund Management CO. LTD. purchased a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth about $64,000. KBC Group NV increased its position in shares of ACADIA Pharmaceuticals by 67.0% during the fourth quarter. KBC Group NV now owns 5,093 shares of the biopharmaceutical company's stock worth $93,000 after acquiring an additional 2,044 shares during the last quarter. Finally, Globeflex Capital L P purchased a new stake in shares of ACADIA Pharmaceuticals during the fourth quarter worth about $168,000. Institutional investors and hedge funds own 96.71% of the company's stock.

ACADIA Pharmaceuticals Stock Down 3.1%

Shares of NASDAQ:ACAD traded down $0.69 during trading on Friday, hitting $21.60. 1,446,509 shares of the company traded hands, compared to its average volume of 1,939,166. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of 27.69 and a beta of 0.47. The business's fifty day moving average is $16.87 and its 200-day moving average is $17.48. ACADIA Pharmaceuticals Inc. has a one year low of $13.40 and a one year high of $25.23.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ACAD. Oppenheimer reaffirmed a "market perform" rating on shares of ACADIA Pharmaceuticals in a research report on Friday, May 16th. Robert W. Baird lifted their target price on ACADIA Pharmaceuticals from $28.00 to $31.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. UBS Group lowered their price objective on ACADIA Pharmaceuticals from $25.00 to $22.00 and set a "buy" rating for the company in a report on Monday, April 28th. Mizuho boosted their price objective on ACADIA Pharmaceuticals from $20.00 to $23.00 and gave the company a "neutral" rating in a report on Monday, May 19th. Finally, Morgan Stanley set a $24.00 price objective on ACADIA Pharmaceuticals and gave the company an "equal weight" rating in a report on Tuesday, May 20th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, ACADIA Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $26.83.

Insider Activity

In other ACADIA Pharmaceuticals news, Director Elizabeth A. Garofalo sold 4,919 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $18.23, for a total transaction of $89,673.37. Following the completion of the transaction, the director now directly owns 17,595 shares of the company's stock, valued at approximately $320,756.85. This trade represents a 21.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark C. Schneyer sold 2,000 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $25.00, for a total value of $50,000.00. Following the transaction, the executive vice president now directly owns 62,130 shares of the company's stock, valued at approximately $1,553,250. The trade was a 3.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,746 shares of company stock valued at $428,221. 28.30% of the stock is currently owned by 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.